TUI Plans to Take On Local Online Booking Players With $1 Billion Revenue Goal
Photo Credit: The TUI Blue Grand Azur hotel in Marmaris, Turkey. The company is still keen to grow into new markets. TUI Group
Skift Take
TUI's global plans are ambitious and bring it into direct competition with strong local online players, but as the CEO said, it only needs a relatively small number of customers to fulfill its needs.
While it might not be having the easiest time in its core European markets at the moment, TUI has still got its eyes on global expansion.
The travel giant flagged Wednesday the possibility of entering new markets in 2017 and the plans are still on track.
To execute its strategy, TUI will behave differently. In its current core markets — the United Kingdom, Germany, and others — it has 21 million customers, who purchase a pre-packaged vacation product and fly to their destination on TUI aircraft.
In the new markets, TUI will ape online travel agencies, selling dynamic packages with the aim of getting to one million customers and $1.1 billion (€1 billion) in revenue by 2022. Markets TUI is targeting include China, Brazil, and India, all o
