TUI Group reported third-quarter 2022 results, noting improvements for its three cruise brands, TUI Cruises, Hapag-Lloyd Cruises, and Marella Cruises, with its entire fleet back in service.
Mein Schiff fleet occupancy increased to 70% from 41% last year; Hapag-Lloyd Cruises reported 57 percent fleet-wide occupancy, and Marella Cruises reported 70%. TUI Cruises’ average daily rates increased to 188 euros from 125 euros a year ago. According to the company, the average rate has returned to pre-pandemic levels.
Marella Cruises increased its average daily rate to 160 euros from 128 euros a year ago. Hapag-Lloyd also reported a nice increase, reporting 616 euros per day per passenger, up from 443 a year ago.
“Cruises are continuing to recover into Q4, with occupancies steadily increasing at higher rates.” “Short-term bookings continue to account for a sizable portion of total bookings,” the company stated in its earnings press release.