Europe’s largest travel group confirmed it is "in discussions" with shipyards with a view to ordering ships that will be built from 2031 onwards.
It estimates each new-build will generate earnings before interest and taxation between €130m and €150m per annum per ship and highlighted how its three cruise brands, Mein Schiff, Hapag-Lloyd Cruises and Marella, hold strong market positions in Germany and UK, respectively.
As part of a capital markets day update on Tuesday (25 March), the group said: "In cruises we aim to grow our product offering through new ship deliveries based on a continued strong trading environment and market growth predictions, particularly in Europe.
"Against the background of an ageing Marella Cruises fleet, we are currently exploring future growth options on how to position our highly profitable UK market leading business in a steadily growing market.
"We are in discussions with shipyards and we are currently considering ordering two vessels based on a design customised for the UK market."
In the trading update, Tui reaffirmed its full year guidance of a 7-10% increase in profits this year, precipitated by a 5-10% increase in revenue. Tui made almost €1.3 billion before tax in 2024.
Tui expects to add 15 own-brand hotels this year and more than 25 next year. Tui also has plans for its airline; it said it was “targeting new revenue streams through expansion of seat-only and increasing our reach via B2B partnerships”.
Tui Group chief executive Sebastian Ebel said: “Tui continues to grow. Our integrated business model is the basis for a stronger global presence. The goal is to strengthen the synergies between the various business areas, offer customers more products and significantly increase the number of customer contacts throughout the year.
“Our customer base of more than 33 million provides the basis for growth. The course has been set.”
Tui said market growth in the tourism sector was expected to outpace global GDP growth rates in the near future. To fund future expansion, Tui’s €1.65 billion credit facility has been increased to around €1.9 billion.
