Tui chief targets €1bn extra turnover and one million new customers

Tui chief targets €1bn extra turnover and one million new customers

A future vision of digitalisation and growth in new markets has been outlined by the boss of Tui Group.

Chief executive Fritz Joussen is targeting additional turnover worth €1 billion and reach one million new customers within the next five years.

The ‘Tui 2022’ strategy was outlined at the travel giant’s 58th annual meeting in Hanover.

The group aims to generate growth by tapping new source markets such as Spain, Portugal, Brazil and China, which are already part of its holiday destinations portfolio.

The new plan aims to “consistently expand these destinations as source markets too”.

Tui said: “This will primarily be achieved on the basis of a digital, standardised, globally scalable software architecture as well as global expansion of the strong Tui master brand.”

Joussen said: “Tui is becoming more digital, Tui is becoming even more international.

“Markets such as Asia and South America are regions with rapidly growing middle classes, who are gaining new opportunities to travel and discover the world thanks to growing prosperity.

“We are aiming to push expansion of our brand ahead in these markets.”

The move came as shareholders confirmed a dividend of €0.63 per share for the 2015-16 financial year.

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