TUI Group
A Germany-based international tourism group combining package holidays, airlines, hotels, resorts, cruises, destination services and travel retail.
Last updated October 14, 2026
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Overview
TUI Group is a German multinational tourism company headquartered in Hanover. It operates across much of the holiday value chain, combining tour operating and travel distribution with airlines, hotels and resorts, cruise brands, destination management and excursions. The group is one of Europe's largest leisure-travel businesses and is structured around the idea of selling and delivering an integrated holiday rather than acting solely as an airline, hotel company or travel agency. The group's corporate roots reach back to Preußische Bergwerks- und Hütten-Aktiengesellschaft, incorporated in 1923 as an industrial and mining enterprise. Its modern tourism identity developed much later. A significant early relationship was formed in the 1950s between the German travel business Dr Tigges and the Riu family, whose hotel company hosted German holidaymakers in Mallorca. TUI's name derives from Touristik Union International, a tourism organization established in 1968. During the 1990s, Preussag shifted away from its industrial heritage, acquired Hapag-Lloyd and consolidated tourism interests. The company changed its name to TUI AG in 2002. A major strategic turning point came in 2007, when TUI's travel division merged with First Choice to create TUI Travel plc. TUI AG retained a majority interest in the combined company. The transaction broadened the group across tour operations, aviation, retail distribution and destination services. In December 2014, TUI AG and TUI Travel completed a full merger, creating the present integrated TUI Group and establishing a dual listing on the Frankfurt and London stock exchanges at that time. TUI's accommodation portfolio includes branded and partner hotels and resorts, with concepts such as RIU, Robinson, TUI Blue and TUI Magic Life. Its cruise activities are conducted through TUI Cruises, a joint venture with Royal Caribbean Group, Hapag-Lloyd Cruises and Marella Cruises, which primarily serves the British market. The airline division operates several European carriers under TUI fly and TUI Airways identities. The group also sells package holidays, hotel stays, flights, excursions and activities through digital platforms, retail agencies and destination businesses. Musement, acquired in 2018, became part of the TUI Musement activity and supports the sale of tours and experiences. The company faced an exceptional crisis during the COVID-19 pandemic, when international travel restrictions sharply reduced bookings and operating revenue. TUI received German state support and later pursued capital measures and balance-sheet restructuring. In 2023 it raised approximately €1.8 billion through a discounted share issue to help repay stabilization assistance and reduce its KfW credit line. The group's largest shareholder, Alexey Mordashov, was sanctioned by the European Union in 2022, and his ability to participate in subsequent capital measures was restricted. TUI continues to position itself as an integrated, internationally scaled holiday provider, with a mix of mass-market and premium products. Its competitive proposition rests on control of distribution, aircraft capacity, hotel concepts, cruise inventory and destination operations. The group remains publicly listed in Germany; in 2024 it decided to leave the London Stock Exchange while retaining its Frankfurt and Hanover listings.
History
TUI Group's legal and corporate ancestry begins with Preußische Bergwerks- und Hütten-Aktiengesellschaft, established in Germany in 1923. The original enterprise belonged to the mining, metals and energy economy and later became associated with VEBA. Tourism was not initially its core activity. The group's later transformation reflected a broad German corporate restructuring in which industrial assets were sold and service businesses acquired. The tourism lineage that ultimately fed into TUI developed after the Second World War. In 1953, the German travel agency Dr Tigges began working with the Riu family, whose hotel business had established a presence in Mallorca. Organized German holidays at the Hotel Riu San Francisco helped create a durable relationship between German tour distribution and Mediterranean resort accommodation. TUI itself was founded in 1968 as Touristik Union International, bringing tourism interests into a more recognizable organizational framework. In the 1990s, Preussag made tourism and transportation central to its strategy. It acquired Hapag-Lloyd in 1997 after selling Salzgitter and obtained full control of the TUI tourism group by 1999. It also became involved in Thomas Cook and subsequently acquired Thomson Travel in 2000. Regulatory requirements forced the disposal of its majority interest in Thomas Cook. In 2002, Preussag adopted the TUI AG name, signaling the completion of its move from industrial conglomerate toward tourism and services. The company then separated its logistics interests from its tourism platform. Hapag-Lloyd's shipping operations were progressively sold to outside investors in 2009 and 2012, allowing TUI to concentrate on holidays. At the same time, the group expanded its tour operations, airline capacity, hotels, retail network and destination activities. In 2007 TUI announced the merger of its travel division with First Choice. Following regulatory approval and the sale of Budget Travel in Ireland, TUI Travel plc began operating in September 2007, with TUI AG holding 55 percent. TUI Travel became the vehicle for a wide international portfolio of tour operators and holiday brands. Shareholder activity also influenced the company during this period. John Fredriksen sought strategic changes and a possible separation of the group, while Alexey Mordashov built a substantial holding and became an important shareholder. TUI eventually pursued the opposite direction from a break-up: in 2014 TUI AG and TUI Travel merged fully. The transaction completed on 17 December 2014 and created the present integrated group, initially traded in both Frankfurt and London. The post-merger company expanded its experience and destination offering. Musement, an Italian online platform for tours and activities, was acquired in 2018 after earlier expansion through the purchase of Triposo. TUI Destination Experiences was subsequently renamed TUI Musement. The group also sold several smaller travel businesses and holiday-home activities in 2019, including Berge & Meer, Boomerang Reisen, Atraveo and Wolters-related businesses, as it refined its portfolio. COVID-19 represented the most serious disruption in TUI's modern history. Border closures, quarantine rules and the suspension of flights, hotels and cruises caused bookings and revenue to collapse. In 2020 the company reported a net loss of approximately €2.3 billion for the October 2019-to-June 2020 period, including a particularly severe loss in the April-to-June quarter. German government support and KfW financing helped the company preserve liquidity, while management considered asset sales and capacity changes. The geopolitical environment created another challenge when Alexey Mordashov was placed under EU sanctions in February 2022. His shareholding became subject to legal and regulatory complications. In 2023 TUI raised about €1.8 billion in a discounted capital increase, excluding Mordashov because of sanctions-related restrictions. The funds supported repayment of German stabilization aid and reduction of the KfW credit line. In 2024, TUI announced that it would leave the London Stock Exchange and retain its German listings. The group remains an integrated tourism company built around the coordination of travel demand, transport, accommodation, cruising and destination services.
- 2024
London listing exit announced
[1]TUI decided to leave the London Stock Exchange while retaining German listings.
- 2023
Capital increase and state-aid repayment
[1]TUI raised approximately €1.8 billion to repay German stabilization support and reduce KfW financing.
- 2020
Pandemic crisis
[1]COVID-19 travel restrictions sharply reduced operations and produced an exceptional financial loss.
- 2018
Musement acquired
[1]TUI acquired the online tours-and-activities platform Musement.
- 2014
TUI AG and TUI Travel merge
[1]The full merger completed on 17 December, forming the integrated TUI Group.
- 2007
TUI Travel created with First Choice
[1]TUI's travel division merged with First Choice to form TUI Travel plc.
- 2002
Preussag becomes TUI AG
[1]The company adopted the TUI AG name.
- 1997
Preussag pivots toward tourism
[1]Preussag acquired Hapag-Lloyd after selling Salzgitter, accelerating its transformation into a service and tourism group.
- 1968
TUI tourism organization founded
[1]Touristik Union International, the source of the TUI acronym, was established.
- 1953
Riu and German tourism relationship begins
[1]Dr Tigges and the Riu family began a cooperation that helped establish organized German holidays in Mallorca.
Products and positioning
An integrated European leisure-travel group spanning mainstream package holidays through premium hotels, luxury and expedition cruising, aviation and destination experiences.
Package holidays
TUI tour operations
The core holiday business packages flights, accommodation, transfers and destination services, selling through websites, travel agencies and branded tour operators. It serves a broad European customer base and supports the group's integrated model by coordinating demand with TUI-owned or controlled airline, hotel and destination capacity.
Airlines
TUI Airlines
TUI's airline division includes carriers operating under TUI fly and TUI Airways brands. The airlines provide scheduled and charter capacity for the group's package holidays and also carry independent travelers to leisure destinations across Europe and surrounding holiday regions.
Hotels and resorts
TUI Hotels & Resorts
The accommodation portfolio includes TUI Blue, TUI Magic Life and Robinson concepts, together with the group's long-standing RIU relationship and other hotel interests. Properties span mainstream, family, club, adults-oriented and premium resort formats, using ownership, leases, management contracts and franchise arrangements.
Cruises
TUI Cruises
TUI Cruises is a joint venture with Royal Caribbean Group and operates the Mein Schiff fleet. The brand is primarily positioned for German-speaking travelers, emphasizing contemporary premium cruising, onboard service and European itineraries.
Luxury and expedition cruises
Hapag-Lloyd Cruises
Hapag-Lloyd Cruises provides luxury and expedition cruising, including the Europa, Europa 2 and Hanseatic-class ships. It targets high-end German-speaking customers and travelers seeking smaller-ship itineraries and expedition destinations.
Cruises
Marella Cruises
Marella Cruises is TUI's principal British cruise brand. It offers leisure cruises designed for the UK market and complements TUI's German-speaking TUI Cruises and luxury Hapag-Lloyd businesses.
Destination experiences · 2018
TUI Musement
TUI Musement combines destination management with digital sales of excursions, tours, activities and experiences. It developed from TUI Destination Experiences and incorporates Musement, an online platform acquired by TUI in 2018.
Controversies
2022
Sanctions and shareholder-transfer controversy
The EU sanctions against major shareholder Alexey Mordashov created controversy and regulatory questions concerning attempted transfers of interests in TUI.
2020
Deportation-flight controversy
TUI faced criticism for operating charter flights for the UK Home Office used to deport people to multiple destinations.
2018
Gender pay-gap criticism
A UK study reported that TUI had the largest gender pay gap among major companies covered by the study, prompting criticism of workplace pay inequality.
Brand decisions
2024
Exit the London Stock ExchangeStrategyBackground
TUI reviewed its listing structure and chose to concentrate its public-market presence in Germany.
Action taken
It decided to leave the London Stock Exchange while retaining Frankfurt and Hanover listings.
Aftermath
The decision reduced the group's exchange footprint while preserving its German listings.
2023
Raise capital and reduce pandemic financingStrategyBackground
TUI sought to repay German stabilization assistance and materially reduce its KfW credit line after the pandemic crisis.
Action taken
The company conducted a discounted share issue raising approximately €1.8 billion; sanctioned shareholder Alexey Mordashov was excluded from participation under applicable restrictions.
Aftermath
The proceeds supported repayment of state aid and balance-sheet deleveraging.
Capital raised. Approximately €1.8 billion (2023)
2018
Acquire MusementM&ABackground
TUI wanted to strengthen its digital destination-experience offering.
Action taken
It acquired the Italian online tours-and-activities platform Musement.
Aftermath
The business became part of TUI Musement after the wider destination-experiences unit was renamed.
2014
Complete the TUI AG–TUI Travel mergerM&ABackground
The group determined that a unified structure could better coordinate its tourism businesses and capture the benefits of vertical integration.
Action taken
TUI AG and TUI Travel completed their merger on 17 December 2014.
Aftermath
The combined company traded as TUI Group and initially maintained listings in Frankfurt and London.
2007
Merge the travel division with First ChoiceM&ABackground
TUI sought greater scale and a broader international travel platform.
Action taken
It combined its travel division with First Choice to establish TUI Travel plc, subject to European Commission conditions.
Aftermath
The transaction expanded TUI's tour operating, airline, retail and destination-services footprint.
Recent events
- 2024
TUI announces departure from London Stock Exchange[1]
Other
The company decided to end its London listing while retaining listings in Frankfurt and Hanover.
- 2023
TUI raises capital to repay German pandemic support[1]
Other
The group raised about €1.8 billion through a share issue to repay stabilization assistance and reduce its KfW credit facility.
- 2020
COVID-19 causes severe loss and travel disruption[1]
Other
Pandemic restrictions caused a dramatic collapse in travel activity and led TUI to report a multibillion-euro net loss for the relevant financial period.
- 2020
TUI considers selling Marella Cruises during pandemic crisis[1]
Other
TUI disclosed that it was considering strategic options for Marella Cruises as the pandemic disrupted cruise operations.
- 2014
TUI completes merger with TUI Travel[1]
M&A
TUI AG and TUI Travel completed their combination, creating the integrated TUI Group.
Sources5 sources
- 1TUI Groupen.wikipedia.org
- 2TUI Group official websitetuigroup.com
- 3Sabre announces a strategic partnership with TUI hotels to enhance the digital travel experienceprnewswire.com
- 4TUI Group expands Eurostar activities partnershipbreakingtravelnews.com
- 5TUI Magic Life Acquires Turkish Club in Belekftnnews.com
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