Greece at Capacity for Easter warns TUI chief

Heraklion resilient destination

Tui expects to sell out in Greece this summer and warned Easter generally will see scarce availability. 

Tui Group chief executive Fritz Joussen said Greece was selling very well, due mainly to repeat bookings.

“Greece is over-indexing by a factor of two,” he said. “Last year it was very popular and there seems to be a repeat. Greek islands, I would say, will be full and I also expect strong prices.”

However, Joussen said there was a trend towards long-haul and increased spending due to larger household savings accumulated during the pandemic.

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He added Easter would see supply issues: “When you look at some of the destinations, some are fully booked. In some of our hotels, it’s almost impossible.”

The UK had a “very strong” bookings pipeline,” he said. “It’s the only country where cumulative bookings are already ahead of the pre-crisis levels. As we speak, it is coming to 100% of pre-crisis levels.” 

In comparison, Germany, he said, was 20% below pre-pandemic sales levels. 

Tui Group’s summer 2022 sales overall are down 28% on pre-pandemic levels, but with a capacity near previous levels and prices up 22% as consumers trade up to long-haul and more expensive holidays.

Joussen said the 22% price spike was “almost all in the mix, with “much more” long-haul than short.

“I have never seen such a price development,” he said. “It’s enormous volumes at very high prices. If that stays, it will be a brilliant summer.”

He predicted summer sales would be late. “It will be scarce; prices will remain very solid.”