TUI

This article deals with the tourism group TUI, for other meanings see Tui .

TUI AG
legal form	Corporation
ISIN	DE000TUAG000
founding	Preussag AG (October 9, 1923–2002) / 1. December 1968
Seat	Berlin and Hanover , Germany
management	Friedrich Joussen ( Chairman of the Management Board ) Dieter Zetsche ( Chairman of the Supervisory Board )
Number of employees	71,437
sales	18.9 billion euros (FY 2018/19)
Branch	Tourism, leisure and shipping
Website	www.tuigroup.com
As of September 30, 2019

The TUI AG (originally for Touristik Union International ) is a listed tourism group with registered double seat in Berlin and Hannover , Group administration in Hanover. TUI is the largest tourism company in Europe with travel agencies , incoming agencies , hotels , airlines , cruise ships and tour operators .

numbers

The TUI Group's 2019 annual report provides the following key data:

• 27 million customers
• 71,473 employees
• 150 aircraft
• 354 hotels with 262,644 beds under ownership, JV, management, lease or franchise agreements. In addition, as of September 30, 2019, 57 hotels were operated by third-party hoteliers as part of the international TUI concept brands, so that the total number including hotels from third-party providers came to 411.
• 18 cruise ships with TUI Cruises , Hapag-Lloyd Kreuzfahrten and Marella Cruises

With a turnover of 18.9 billion euros, the TUI Group achieved an operating result (adjusted EBITA ) of 768 million euros in the 2019 financial year (October 1, 2018 to September 30, 2019) .

history

Group headquarters of TUI AG in Hanover

TUI logo (1970s / 80s)

TUI logo (1980s / 90s)

The following important information is missing from this section:

History after 2015 or current development is missing.

Help Wikipedia by researching and pasting it .

On December 1, 1968, the Touristik Union International GmbH & Co. KG company was founded by TOUROPA (see Carl Degener ), Scharnow-Reisen (see Willy Scharnow ), Hummel-Reise and Dr.-Tigges-Reisen . In 1970 airtours international and TransEuropa became part of TUI; Founding of the Robinson Club (together with Steigenberger ). From 1972 TUI participated in various hotel chains (including Iberotel in 1972, RIU from 1977, Grecotels in 1981). From 1978 the special train TUI-FerienExpress was used.

In 1990, the organizer names were standardized to TUI Schöne Ferien . TUI Nederland and TUI Austria were founded in 1995, and TUI Suisse in 1996. In 1997 45% of the TUI shares were owned by Hapag-Lloyd AG, 30% by WestLB and 25% by Deutsche Bahn AG via Deutsche Reisebüro GmbH (including DER Tour ) . In 1998 the company was taken over by Preussag AG / Hapag-Lloyd and incorporated into the Hapag Touristik Union (HTU). TUI's other tourism holdings in 1998 included: 1-2-Fly , Air Conti Flugreisen , Airtours International and Gebeco with 51.1%.

In 2000 the HTU was renamed TUI Group . In 2001 the TUI Group was transferred to Preussag and became a 100 percent subsidiary of the same. In 2002 Preussag AG renamed TUI AG . This marked the beginning of the large-scale restructuring that led the company away from a conglomerate and into a pure tourism and logistics group. The WestLB sold in 2004 its 31.4 percent stake in TUI AG. First, Westdeutsche Landesbank sold its stake to Deutsche Bank , which passed part of its stake directly on to several Spanish investors ( Riu family , Matutes group , Sparkasse Caja de Ahorros del Mediterraneo ).

Headquarters of TUI Deutschland GmbH in Hanover

In 2005, TUI sold its rail logistics business, which is part of the wholly owned subsidiary VTG AG , to Compagnie Européenne de Wagons . The logistics activities that are bundled under the umbrella of Hapag-Lloyd AG were concentrated in 2005 on the profitable growth field of shipping. With the takeover of the Canadian container shipping company CP Ships , the group of companies is now one of the five largest container shipping companies in the world. In 2006 TUI AG sold its business travel division TQ3 Travel Solutions to the Dutch company BCD Holdings NV and sold its indirect 100 percent stake in the US steel trading business of PNA Group Inc. to the financial investor Platinum Equity .

In March 2007, the group management announced that it wanted to merge part of the tourism business with the British company First Choice Holidays by integrating it into TUI Travel , which is to be jointly founded . In this way, with a turnover of around 18 billion euros per year, the largest tourism group in the world was created. TUI AG holds around 54% of this company. The new TUI Travel is based in Great Britain. The hotels, cruise ships and the stake in Hapag-Lloyd will remain with TUI in Hanover.

From 1990 to 2008, TUI was listed in the DAX and then until the end of March 2015 in the MDAX on the Frankfurt Stock Exchange and in the Lower Saxony Nisax20 share index . It has been listed on the FTSE 100 since 2014 .

According to an agreement made in September 2009, TUI Travel acquired 8,437,393 new shares to be issued in Air Berlin at a price of EUR 3.97 per share. This corresponds to a stake in Air Berlin of 9.9%.

In June 2014 TUI announced that it would merge with the British tourism company TUI Travel , which is listed on the London Stock Exchange, in the form of a share swap . TUI Travel shareholders received 0.399 TUI shares per share held. TUI Travel was created in 2007 by merging the TUI tourism division with First Choice Holidays . The company, which was newly created by the merger from 2014, kept its headquarters in Hanover as planned and is only listed on the London Stock Exchange. The company retained its German legal form. Since the company was no longer listed on the Frankfurt Stock Exchange , the company's share was removed from the MDAX . The CEO of TUI Travel, Peter Long, is to lead TUI as chairman of the board until 2016 ^{[out of date]} together with Friedrich Joussen. Daimler boss Dieter Zetsche, in turn, was elected to the supervisory board in February 2018 and took over from Klaus Mangold as chairman of the supervisory board in May 2019 . The merger was completed in 2015. TUI shares were listed on the London Stock Exchange on December 17, 2014 and were also included in the FTSE 100 index ; the listing on the regulated market of the Frankfurt Stock Exchange was given up on March 31, 2015.

In June 2015 TUI sold its 50% stake in the Greek hotel chain Grecotel to the co-owner family with the N. Daskalantonakis Group. TUI is said to have raised 40 to 50 million through the deal. TUI has been involved in the hotel chain since 1981, which has 23 hotel complexes. TUI is currently planning 120 concept stores across Europe to replace traditional travel agencies.

During the economic crisis of 2020 as a result of the COVID-19 pandemic , the company received an aid loan of 1.8 billion euros on request. The company's tourism operations had to be shut down almost completely. On May 13, 2020, it was announced that the company would have to cut around 8,000 jobs worldwide due to its revenue losses as a result of the lockdown policy .

Restructuring

Even before the merger was announced, opinions differed on the corporate restructuring of the former Preussag to become TUI. In its 2006 Black Book Exchange, the Protection Association of Investors described the renovation as "one of the greatest value destruction campaigns in German corporate history". The takeover of CP Ships was "completely overpriced" and the profitability of the entire group had deteriorated. The debts have risen "immeasurably". A study by economists at the Universities of Mannheim and Rotterdam calculated a loss for investors of up to eight billion euros as a result of the corporate restructuring, because "you have invested in an industry that you did not understand" and "paid too much for companies, whose value could not be increased ".

In March 2008, TUI announced that it would be separating from Hapag-Lloyd container shipping business in order to concentrate entirely on the core business of tourism in the future. In October 2008, the sale to the Albert Ballin consortium , consisting of KM Kühne , the city of Hamburg ( HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement ) and a number of Hamburg investors, was announced. The company (excluding Hapag-Lloyd Kreuzfahrten , 100% TUI Group remained) was valued at 4.45 billion euros before net liabilities. The Hamburg consortium paid 1.4 billion euros in cash for two thirds of the company's shares. TUI took over 700 million euros for the remaining third. TUI has the right to offer its share to the Albert Ballin consortium until 2012 ^{[out of date]} . The Hamburg consortium already had a right of first refusal from 2010.

Stock exchange and shareholders

The company's shares are listed on the Frankfurt Stock Exchange , the London Stock Exchange and the Hanover Stock Exchange and are included in the FTSE 100 share index, for example .

Shareholder structure (as of June 2019)

Shareholders	proportion of
Institutional investors	59.7%
Unifirm Limited	24.998%
Private investors	11.8%
RIU SA (Riu Güell family)	3.56%

In spring 2007 the Norwegian shipping company and financial investor John Fredriksen took a 15.01% stake in TUI. At the TUI general meeting in May 2008, Fredriksen called for the group to be split up and for TUI boss Michael Frenzel to be dismissed . At the general meeting on May 13, 2009, Fredriksen demanded that the chairman of the supervisory board, Jürgen Krumnow, be voted out in order to then move into the supervisory board himself. However, these attempts were unsuccessful. On February 28, 2014, Monteray Enterprises Ltd. (John Fredriksen) announced that their share of the voting rights in TUI fell below the threshold of 3% on February 24, 2014.

At the beginning of 2008, the Russian oligarch Alexei Mordaschow joined TUI. By July 2008 it had increased its stake to 15.03% and in March 2012 to 25.29%. This makes him the largest single shareholder.

Group structure

The following parts of this section seem since December 17, 2014 is out of date to be : An overview of the Group structure is outdated, since the TUI Travel PLC was dissolved, sh. Current Group Divisions
Please help to research and add the missing information .

Business areas

TUI Hotels & Resorts	Cruises	TUI Airlines	sales	TUI Destination Services
Core brands: TUI Blue Robinson Club TUI Magic Life RIU Hotel concepts: TUI Sensimar TUI Sensatori TUI Family Life Other: 11 other hotels and hotel holdings	Shipping companies: TUI Cruises Hapag-Lloyd Cruises Marella Cruises	Airlines: TUIfly TUI Airways TUIfly Nordic TUI Airlines Belgium TUI Airlines Nederland Corsair International	Tour operators, divided into the markets: North Central west	Incoming agencies in the countries that are important to TUI AG in terms of tourism .

TUI Hotels & Resorts

In the 2019 financial year, the Hotels & Resorts segment comprised a total of 354 hotels with 262,644 beds. With 328 hotels, the majority belong to the four- or five-star hotels. 46% were operated under management contracts, 41% were owned by the respective hotel company, 12% were leased and 1% of the facilities were managed under franchise agreements. In addition, as of September 30, 2019, 57 hotels were operated by third-party hoteliers as part of the international TUI concept brands, so that the total number, including hotels from third-party providers, came to 411.

Cruises

Mein Schiff 4 from TUI Cruises

A total of 17 cruise ships belong to TUI AG through the subsidiaries TUI Cruises , Hapag-Lloyd Cruises and Marella Cruises :

• TUI Cruises is a joint venture with Royal Caribbean Cruises . The fleet currently includes seven ships named Mein Schiff 1 to 6 and Mein Schiff Herz.
• The Hapag-Lloyd Cruises is responsible in the German-speaking countries for luxury and expedition cruises. It is a wholly owned subsidiary of TUI AG. The cruise ships MS Europa and MS Europa 2 are available for the luxury cruises and the expedition ships are the MS Bremen and the HANSEATIC nature , which set sail for the first time on May 5, 2019. The HANSEATIC inspiration followed in October 2019 and the HANSEATIC spirit followed in 2021 .
• In the UK market, Marella Cruises offers five-ship cruises.

TUI Airlines

TUI is the owner of several airlines. These were previously combined under the TUIfly umbrella brand . Since the two TUI subsidiaries Hapag-Lloyd Flug (Hapagfly) and Hapag-Lloyd Express (HLX) merged into a new airline with the same brand name TUIfly in January 2007 , TUI has now grouped its airlines under the term TUI Airlines . They are administered by TUI Airline Management . In addition to the German airline TUIfly TUI operates in France , the Corsair , in Belgium , the TUI Airlines Belgium and the Netherlands , the TUI Airlines Nederland , to arrive in the UK , TUI Airways , Sweden TUIfly Nordic and Russia Kogalymavia (Metrojet).

sales and marketing

Tour operator in TUI

TUI has several travel companies and brands in Central Europe, in Germany TUI Deutschland GmbH , 1-2-Fly , Airtours , Gebeco , L'TUR , OFT-Reisen, Atraveo , Boomerang Reisen , Dr. Tigges via Gebeco , Touropa and others. In Austria these are Gulet Touristik , TUI Austria and Terra Reisen . There are also TUI Poland in Poland (with the TUI and Scan Holiday brands ) and TUI Suisse in Switzerland with the TUI and Airtours brands . The Vögele Reisen brand, which is mainly active in direct sales, was sold retroactively to Twerenbold Reisen by TUI Suisse as of January 1, 2013, but TUI Suisse was still responsible for the trips up to the end of October 2013.

The holiday home provider Wolters Reisen is to be sold to the Frankfurt e-Domizil by the end of February 2020 ^{[out of date]} , subject to the approval of the authorities .

In Northern Europe, TUI is represented in Denmark with Sportsrejser , StarTour and TEMA , in Finland with Finnmatkat and TEMA and in Great Britain with Specialists Holidays Group , Thomson and TUI UK . In Norway it operates Sportreiser , StarTour and TEMA , and in Sweden Fritidsresor , Sportresor , TEMA and TUI Nordic .

In Western Europe, TUI operates in France: Nouvelles Frontières , TUI France , JV and Touraventure , in Belgium Jetair and TUI Belgium , and in the Netherlands Arke , De Boer & Wendel , Discovery , Group & Incentive Travel , Holland International , Isropa Reizen , KRAS Reizen , Panta Reizen , TUI Nederland and Zeetours Cruises .

There are also TUI China and TUI Mostravel Russia .

Activities in Russia and Ukraine

The TUI Travel and the S-Group Travel Holding of the Russian shareholder Mordashov stated on 16 April 2009, the establishment of a joint venture in Russia with investments of 30 million euros for the construction of tourism activities in Russia and Ukraine. The tour operators VKO Group and Mostravel in Russia and Voyage Kiev in Ukraine, which have over 160 travel agencies and over half a million customers, are to be taken over. As a result, the umbrella brand was introduced in Russia and Ukraine in March 2010.

Division into regions

TUI Central Region

• Germany: TUI Leisure Travel (TUI ReiseCenter, FIRST Travel Agency, Hapag-Lloyd Travel Agency, Discount Travel, World of TUI Reise-ErlebnisCenter Berlin), TUI Travel Star (50 percent stake and 50 percent RT-Reisen GmbH), Touristik Express
• Austria: TUI The Travel Agency
• Poland: TUI CentrumPodrózy, Scan Holiday
• Switzerland: Brands of TUI Suisse Retail Ltd: TUI, airtours Travel Boutique
• Slovenia: TUI Sonček
• Russia: TUI Турагентство
• Ukraine: TUI Турагенція

TUI North Region

• Denmark: TUI (formerly StarTour)
• Finland: Oy Finnmatkat
• Great Britain: Thomson Holidays, Austravel, Caller-Pegasus Travel Service
• Norway: StarTour Stjernereiser
• Sweden: Fritidsresor Sverige

TUI Region West

• France: Nouvelles Frontières, Havas Voyages
• Belgium: Nouvelles Frontières Belgique, Sunjets, TUI Travel Center
• Netherlands: World of TUI Reisbureau, KRAS Reisbureau

TUI Destination Services

Incoming agencies

• Egypt: Travco Group
• Bulgaria: TUI Bulgaria
• China: TUI China Travel
• Dominican Republic: Hotelbeds
• France: Nouvelles Frontières
• Greece: TUI Hellas Travel
• Israel: Holiday Travel
• Italy: Serenade Tours (art cities), Acampora (southern Italy)
• Kenya: Pollman's Tours and Safaris
• Croatia: Gulliver Travel
• Lebanon: Aeolos Leban
• Malta: Aelos Malta
• Morocco: Holidays Services
• Mauritius: Summertimes
• Mexico: Hotelbeds
• Namibia: ATC Namibia
• Austria: TUI Incoming Austria
• Oman: Travco Oman
• Poland: Jointex
• Portugal: TUI Portugal
• Romania: Danubius Travel
• Russia: Svoy TT
• Spain: TUI España Turismo
• Sri Lanka: Aitken Spence Travels
• South Africa: ATC African Travel
• Tanzania: Ranger Safaris
• Tunisia: Tunisie Voyages
• Turkey: Tantur Turizm (TUI Türkiye)
• United Arab Emirates: Travco Dubai
• Cyprus: Aeolos Travel

See also

• TUI 4U Consolidator

Web links

Commons : TUI  - collection of images, videos and audio files

• Official website
• Early documents and newspaper articles on Preussag AG in the 20th century press kit of the ZBW - Leibniz Information Center for Economics .

Individual evidence

1. ↑ ^{a b c d} Annual Report 2018/19. (pdf) In: www.tuigroup.com. Retrieved December 23, 2019 . 
2. ↑ netzeitung.de Tui puts rivals at a distance again with merger ( Memento from March 27, 2009 in the Internet Archive )
3. ↑ Dieter Zetsche can become supervisory board chairman at TUI . handelsblatt.com. February 12, 2019. Retrieved February 25, 2019.
4. ↑ Ex-Daimler boss Zetsche leads the supervisory board at Tui. In: Handelsblatt. May 23, 2019, accessed January 17, 2020 . 
5. ↑ Hans-Jürgen Klesse: Tui AG wants to swallow Tui Travel. In: Wirtschaftswoche. June 27, 2014, accessed June 27, 2014 . 
6. ↑ Peter Maushagen: merger of the travel giant TUI - reaches for TUI Travel. Reuters Germany, June 27, 2014, accessed June 27, 2014 . 
7. ↑ TUI AG wants to swallow TUI Travel whole - Duo Joussen / Long should lead. In: Focus Online. June 27, 2014, accessed June 27, 2014 . 
8. ↑ TUI Group. In: tuigroup.com. December 17, 2014, accessed December 24, 2014 . 
9. ↑ ^{a b} Tourism Industry - Current News, Figures & Facts (as of July 2015) , accessed on July 20, 2015.
10. ↑ n-tv NEWS: Tui sells its shares in Grecotel. July 3, 2015, accessed December 23, 2019 . 
11. ↑ Martin Barwitzki: KfW aid loan may not be enough for Tui. In: finance-magazin.de. June 23, 2020, accessed June 24, 2020 . 
12. ↑ Anja Holtschneider, Jens Koenen: Tui mostly suspends operations and wants to apply for state aid. In: Handelsblatt.com. March 16, 2020, accessed June 24, 2020 . 
13. ↑ 8,000 jobs will be lost at Tui. In: idowa.de. May 13, 2020, accessed June 24, 2020 . 
14. ^ ^{A b c} Black Book Exchange: The greatest sinners - Tui: Unwise . In: Manager Magazin , February 5, 2007. Retrieved November 25, 2015.
15. ↑ US companies want to get started in Cuba. In: handelsblatt.com . December 24, 2014, accessed March 30, 2016 . 
16. ↑ TUI Group listed in the Open Market on the Frankfurt Stock Exchange from April 1st . IR-News, TUI Group, April 1, 2015, accessed on December 27, 2015.
17. ^ Power struggle in the general assembly at TUI. (No longer available online.) In: rp-online.de. May 7, 2008, formerly in the original ; Retrieved December 24, 2014 .  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.    
18. ↑ Fredriksen wants to remove TUI supervisory board. In: handelsblatt.com . April 9, 2009, accessed December 24, 2014 . 
19. ^ TUI AG - Notification of voting rights. In: tui-group.com. December 22, 2014, accessed December 24, 2014 . 
20. ↑ Tui is to become a pure tourism company. (No longer available online.) In: rp-online.de. March 16, 2008, formerly in the original ; Retrieved December 24, 2014 .  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.    
21. ↑ The struggle for Tui continues. (No longer available online.) In: rp-online.de. July 21, 2008, formerly in the original ; Retrieved December 24, 2014 .  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.    
22. ↑ cruises. TUI Group, archived from the original on May 12, 2017 ; accessed on March 26, 2018 . 
23. ↑ Tui sells holiday home provider Wolters Reisen. In: htr.ch . December 23, 2019, accessed January 30, 2020 . 
24. ↑ "TUI attacks the Russian travel market" pr-inside.com