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European Leisure Travel Industry - March 2011

Mintel European Travel Exposure is a diverse yet detailed collection of reports examining the structure, size and dynamics of an industry experiencing constant change.

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Table of contents

  1. Introduction

      • Key findings
      • Data Sources

          • Abbreviations
          • Overview

              • Economic outlook
                  • Figure 1: Overview of WEO projections (y-o-y % change, unless noted otherwise), October 2010
                • Travel and tourism expenditure
                  • Figure 2: Trend in European nominal expenditure on personal travel and tourism, 2008-15
                  • Figure 3: Trend in European nominal incoming receipts, 2008-15
                • Long-term outlook
                  • Figure 4: Travel and tourism expenditure in Europe*, 2010-20
                • Personal travel and tourism
                  • European countries continue to dominate outbound expenditure rankings
                    • Figure 5: Trend in expenditure on cross-border travel for the top ten ranked countries, 2009
                  • Travel propensity
                    • Domestic travel prevalent
                      • Over 65s travel less overall … but it depends
                        • Figure 6: Net travel propensity* by type of holiday trip and age segment in 26 european countries, 2008
                      • Over a third of Europeans cannot afford a holiday
                        • Figure 7: Percentage of households in 30 European countries that are unable to afford paying for one-week annual holiday away from home, 2007*
                      • A quarter of the world’s Internet users live in Europe
                        • Figure 8: Internet penetration by European country, June 2010
                    • Major Industry Players

                        • Ranking of top ten European tour operators
                          • Changes in ranking
                            • Figure 9: Top 10 European tour operators, FYs 2010 & 2009
                          • TUI AG/TUI Travel
                            • TUI to finally get rid of shipping
                              • Shipping’s improving fortunes
                                • TUI Travel
                                  • Figure 10: TUI Travel’s 27 source markets, 2011
                                • The leading brands
                                  • A new group structure
                                    • Operating profit hit by volcanic ash
                                      • Figure 11: TUI Travel results for year ended 30 September 2010
                                    • TUI Travel changes auditors following accounting mistake
                                      • Mainstream
                                        • Northern region
                                          • Figure 12: Mainstream Northern Europe region results, FY 2009/2010
                                        • Central Europe
                                          • Figure 13: Mainstream Central Europe region results, FY 2009/10
                                        • Western Europe
                                          • Figure 14: Mainstream Western Europe Region results, FY 2009/10
                                          • Figure 15: Reconciliation between underlying operating results for TUI France, 2009/10*
                                        • Accommodation and Destinations sector
                                          • Operating results
                                            • Figure 16: TUI’s accommodation & destinations sector – key performance figures, FY 2009/10
                                          • AsiaRooms investment
                                            • Specialist and Activity
                                              • Figure 17: TUI’s Activity* sector key performance figures, FY 2009/10
                                            • Emerging markets
                                              • Mostravel
                                                • Specialist/emerging market results hit by recession and start-up costs
                                                  • Figure 18: TUI’s specialist and emerging market performance figures, FY 2009/10
                                                • Europe
                                                  • Campaigning against ‘staycations’
                                                    • US
                                                      • Emerging Markets
                                                        • TUI Hotels & Resorts
                                                          • Figure 19: TUI Hotels and Resorts portfolio, 30 September 2010
                                                          • Figure 20: Holding structure of TUI Hotels and Resorts portfolio, September 2010
                                                        • RIU
                                                          • Grupotel
                                                            • Robinson
                                                              • Iberotel
                                                                • Grecotel
                                                                  • Magic Life
                                                                    • Jaz Hotels, Resorts & Cruises (not tabulated above)
                                                                      • Sol y Mar (not tabulated above)
                                                                        • Dorfhotels
                                                                          • ‘Aqi’, TUI’s lifestyle leisure budget brand (not tabulated above)
                                                                            • One year of ‘aQi’
                                                                              • Sensimar – TUI’s boutique-style hotel concept (not tabulated above)
                                                                                • Sensatori
                                                                                  • Cruises
                                                                                    • Hapag-Lloyd Kreuzfahrten
                                                                                      • TUI Cruises
                                                                                        • Figure 21: Results for TUI tourism-related businesses for FYs ended 31 September, 2010 & 2009
                                                                                      • Performance by TUI hotel brand
                                                                                        • Cruise results
                                                                                          • A positive trend in winter 2010/11 bookings
                                                                                            • Figure 22: Year-on-year customer booking variation, autumn 2010
                                                                                          • Nordic region booming …
                                                                                            • Germany
                                                                                              • Western Europe
                                                                                                • Specialist and Activity sector
                                                                                                  • Accommodation and Destination
                                                                                                    • Capacity up for the winter season
                                                                                                      • Figure 23: TUI Travel booking update for the winter season 2010/11, as of 21 November 2010
                                                                                                    • Summer 2011 outlook
                                                                                                      • Figure 24: Current trading summer 2009, as of 10 May 2009
                                                                                                    • Fuel/foreign-exchange hedging
                                                                                                      • Figure 25: TUI Travel’s currency & fuel hedging programme as of 25 November 2010*
                                                                                                    • Integration and cost efficiencies
                                                                                                      • TUI Travel to cut costs and jobs
                                                                                                        • 2011 to be a year of consolidation
                                                                                                          • New reservation systems for the UK
                                                                                                            • Thomas Cook Group
                                                                                                              • Top ten source markets
                                                                                                                • Mainstream versus independent
                                                                                                                  • Online growth
                                                                                                                    • Travel trends
                                                                                                                      • Free and independent following Arcandor bankruptcy
                                                                                                                        • Fiscal 2010 – a difficult year
                                                                                                                          • Pre-tax profit down 7%
                                                                                                                            • Improved cash flow
                                                                                                                              • Refinancing achieved
                                                                                                                                • Volcanic-ash impact
                                                                                                                                  • Current outlook
                                                                                                                                    • Restructuring and cost cutting
                                                                                                                                      • Operating structure
                                                                                                                                        • Details by division
                                                                                                                                          • Figure 26: Summary of Thomas Cook business units, based on FY 2009/10 results, as at 30 September 2010
                                                                                                                                        • UK/Ireland trading review
                                                                                                                                          • Central Europe trading review
                                                                                                                                            • West/East Europe performance review
                                                                                                                                              • Northern Europe trading review
                                                                                                                                                • Airlines Germany trading review
                                                                                                                                                  • North America trading review
                                                                                                                                                    • Cook’s distribution strategy
                                                                                                                                                      • Cook’s OTA thrust
                                                                                                                                                        • Tealeaf helps Hotels4U catch lost Internet customers
                                                                                                                                                          • The Co-operative Group merger
                                                                                                                                                            • Cook has taken over leading Turkish specialist
                                                                                                                                                              • Öger purchase will help develop the Russian market
                                                                                                                                                                • Öger Tours
                                                                                                                                                                  • Öger expanding summer 2011 offers
                                                                                                                                                                    • Branding issue to be handled with care …
                                                                                                                                                                      • Cook expanding outside its core European markets
                                                                                                                                                                        • In India since 1881...
                                                                                                                                                                          • Thomas Cook buys into Intourist
                                                                                                                                                                            • An initial 50.1% stake
                                                                                                                                                                              • But China is a longer-term project …
                                                                                                                                                                                • Financial services still an important activity
                                                                                                                                                                                  • Essential Travel acquisition
                                                                                                                                                                                    • Thomas Cook’s hotel links
                                                                                                                                                                                      • Sentido – Cook’s lifestyle boutique hotel concept
                                                                                                                                                                                          • Figure 27: Sentido hotel portfolio, summer 2011
                                                                                                                                                                                        • REWE Touristik
                                                                                                                                                                                          • REWE has moved into second place in German market
                                                                                                                                                                                            • Tour operator revenue up 2.2% in 2009
                                                                                                                                                                                              • Tour operator revenue up 3.6% in 2010
                                                                                                                                                                                                • Two types of tour operators
                                                                                                                                                                                                  • ITS – the volume brand
                                                                                                                                                                                                    • Jahn Reisen – the brand for individual specialties
                                                                                                                                                                                                      • Tjaereborg – the dynamically priced brand
                                                                                                                                                                                                        • A positive outlook for 2010-11 season
                                                                                                                                                                                                          • Dertour – the modular holiday brand
                                                                                                                                                                                                            • Meier’s Weltreisen – the long-haul specialist
                                                                                                                                                                                                              • ADAC Reisen – the mobile holiday brand
                                                                                                                                                                                                                • Record turnover for REWE’s individual holiday brands in FY 2010
                                                                                                                                                                                                                  • Number one for distribution
                                                                                                                                                                                                                    • REWE Touristik Hotels and Investments
                                                                                                                                                                                                                      • PrimaSol Hotels
                                                                                                                                                                                                                        • LTI International Hotels
                                                                                                                                                                                                                          • Kuoni
                                                                                                                                                                                                                            • Kuoni’s main shareholder
                                                                                                                                                                                                                              • A flexible cost structure
                                                                                                                                                                                                                                • Leisure travel
                                                                                                                                                                                                                                  • Mainstream segment
                                                                                                                                                                                                                                    • Kuoni’s brand portfolio
                                                                                                                                                                                                                                      • Distribution
                                                                                                                                                                                                                                        • Destination management
                                                                                                                                                                                                                                          • New group structure
                                                                                                                                                                                                                                            • Functional units accorded more responsibility
                                                                                                                                                                                                                                              • North and south market regions
                                                                                                                                                                                                                                                • Procurement and production unit: one source for all market regions
                                                                                                                                                                                                                                                  • Destinations division
                                                                                                                                                                                                                                                    • Kuoni pulls back on China operator takeover
                                                                                                                                                                                                                                                      • Kuoni has retained its stake in Et-China
                                                                                                                                                                                                                                                        • Recent acquisitions
                                                                                                                                                                                                                                                          • Kuoni has reinforced its US destination management activity
                                                                                                                                                                                                                                                            • Kuoni acquires Danish golf travel specialist
                                                                                                                                                                                                                                                              • Expanded destination management activities in the UAE
                                                                                                                                                                                                                                                                • Kuoni acquires Italian operator
                                                                                                                                                                                                                                                                  • Kuoni buys Best Tours in Belgium
                                                                                                                                                                                                                                                                    • Kuoni is entering Finland
                                                                                                                                                                                                                                                                      • Latest results and current outlook
                                                                                                                                                                                                                                                                        • North region
                                                                                                                                                                                                                                                                          • South region
                                                                                                                                                                                                                                                                            • Outlook
                                                                                                                                                                                                                                                                              • Figure 28: Forecasted booking* trend 2010/11 for tour operating, (y-o-y % change), as of 31 October 2010
                                                                                                                                                                                                                                                                            • Destinations division
                                                                                                                                                                                                                                                                              • Club Med
                                                                                                                                                                                                                                                                                • Most customers go to villages in their region
                                                                                                                                                                                                                                                                                  • Loss narrowed in FY 2010
                                                                                                                                                                                                                                                                                    • Outlook for 2011
                                                                                                                                                                                                                                                                                      • Figure 29: Trend in bookings, in revenue at constant exchange rates, at 4 December 2010
                                                                                                                                                                                                                                                                                    • Further increase in upmarket clientele
                                                                                                                                                                                                                                                                                      • But a 2.7% drop in RevBAB …
                                                                                                                                                                                                                                                                                        • Families now 59% of four- and five-trident customers
                                                                                                                                                                                                                                                                                          • Two thirds of the portfolio in the four- and five-trident segments by 2012
                                                                                                                                                                                                                                                                                            • 60% of direct sales in 2012
                                                                                                                                                                                                                                                                                              • Club Med’s first village in China has opened
                                                                                                                                                                                                                                                                                                • One and a half hours from Beijing
                                                                                                                                                                                                                                                                                                  • The all-inclusive package appeals ...
                                                                                                                                                                                                                                                                                                    • Club Med targets only 0.2% of the Chinese population
                                                                                                                                                                                                                                                                                                      • Fosun Group, Club Med’s partner
                                                                                                                                                                                                                                                                                                        • Alpitour
                                                                                                                                                                                                                                                                                                          • Revenue stagnating
                                                                                                                                                                                                                                                                                                            • Figure 30: Alpitour results, FY ended 31 October 2008-10
                                                                                                                                                                                                                                                                                                            • Figure 31: Results by business segment in FY 2009 (period ended 31 october 2009)
                                                                                                                                                                                                                                                                                                          • Aviation – Neos
                                                                                                                                                                                                                                                                                                            • Incoming – Jumbo Tours
                                                                                                                                                                                                                                                                                                              • Distribution – Welcome Travel
                                                                                                                                                                                                                                                                                                                • Incentive and events – A World of Events
                                                                                                                                                                                                                                                                                                                  • Outlook
                                                                                                                                                                                                                                                                                                                    • alltours
                                                                                                                                                                                                                                                                                                                      • Reisecenter alltours GmbH
                                                                                                                                                                                                                                                                                                                        • Other group subsidiaries
                                                                                                                                                                                                                                                                                                                          • Three mainstream holiday brands
                                                                                                                                                                                                                                                                                                                            • A 24% increase in bookings for winter trips
                                                                                                                                                                                                                                                                                                                              • alltours expects sales growth of 10% for FY 2010/11
                                                                                                                                                                                                                                                                                                                                • Source markets outside Germany continue to yield above-average growth 
                                                                                                                                                                                                                                                                                                                                  • Outlook for Germany in 2011
                                                                                                                                                                                                                                                                                                                                    • Investment driven by financial strength
                                                                                                                                                                                                                                                                                                                                      • allsun hotel group
                                                                                                                                                                                                                                                                                                                                        • alltours looking for 100 new employees
                                                                                                                                                                                                                                                                                                                                          • Hotelplan
                                                                                                                                                                                                                                                                                                                                            • Turnover down by 8% in FY 2010
                                                                                                                                                                                                                                                                                                                                              • Figure 32: Hotelplan comparative results, FY 2009/FY 2010
                                                                                                                                                                                                                                                                                                                                            • A significant improvement in the profitability of Swiss operations
                                                                                                                                                                                                                                                                                                                                              • Increased profits for Interhome also ...
                                                                                                                                                                                                                                                                                                                                                • Investments for Travelwindow
                                                                                                                                                                                                                                                                                                                                                  • Losses registered abroad
                                                                                                                                                                                                                                                                                                                                                    • Figure 33: Turnover by Hotelplan subsidiary, FY 2009/10
                                                                                                                                                                                                                                                                                                                                                  • Hotelplan’s M-Travel Switzerland takes over business travel brand
                                                                                                                                                                                                                                                                                                                                                    • Air Berlin has expanded its Swiss operations
                                                                                                                                                                                                                                                                                                                                                      • FTI Touristik
                                                                                                                                                                                                                                                                                                                                                        • The specialists
                                                                                                                                                                                                                                                                                                                                                            • Figure 34: FTI-owned language school portfolio, 2011
                                                                                                                                                                                                                                                                                                                                                          • fly.de
                                                                                                                                                                                                                                                                                                                                                            • DriveFTI
                                                                                                                                                                                                                                                                                                                                                              • A new product line
                                                                                                                                                                                                                                                                                                                                                                • Distribution
                                                                                                                                                                                                                                                                                                                                                                  • sonnenklar.TV
                                                                                                                                                                                                                                                                                                                                                                    • Franchise concept
                                                                                                                                                                                                                                                                                                                                                                      • Price and destination trends for the winter season 2010/11
                                                                                                                                                                                                                                                                                                                                                                        • Savings with early booking discounts, bonus nights and all-inclusive
                                                                                                                                                                                                                                                                                                                                                                          • Almost two thirds is all-inclusive
                                                                                                                                                                                                                                                                                                                                                                            • Car travel is booming
                                                                                                                                                                                                                                                                                                                                                                              • A new Far Eastern catalogue
                                                                                                                                                                                                                                                                                                                                                                                • New destinations for summer 2011
                                                                                                                                                                                                                                                                                                                                                                                  • Bulgaria and Romania prominently featured
                                                                                                                                                                                                                                                                                                                                                                                    • France – new to the summer catalogue
                                                                                                                                                                                                                                                                                                                                                                                      • Formentera for the first time
                                                                                                                                                                                                                                                                                                                                                                                        • Cape Verde
                                                                                                                                                                                                                                                                                                                                                                                          • Aruba and Curaçao
                                                                                                                                                                                                                                                                                                                                                                                            • Papua New Guinea
                                                                                                                                                                                                                                                                                                                                                                                              • Gangga Island Resort 
                                                                                                                                                                                                                                                                                                                                                                                                • Oad Reizen
                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 35: Oad performance figures, 2005-09
                                                                                                                                                                                                                                                                                                                                                                                                • Three main core activities
                                                                                                                                                                                                                                                                                                                                                                                                  • Oad Reizen
                                                                                                                                                                                                                                                                                                                                                                                                    • Hotelplan
                                                                                                                                                                                                                                                                                                                                                                                                      • Oad Coach Company
                                                                                                                                                                                                                                                                                                                                                                                                        • Distribution network
                                                                                                                                                                                                                                                                                                                                                                                                          • Partially owned activities
                                                                                                                                                                                                                                                                                                                                                                                                          • Major European Outbound Markets by Country/Region

                                                                                                                                                                                                                                                                                                                                                                                                              • Two big players dominate Europe
                                                                                                                                                                                                                                                                                                                                                                                                                • Regional and national operators
                                                                                                                                                                                                                                                                                                                                                                                                                  • UK more concentrated than German market
                                                                                                                                                                                                                                                                                                                                                                                                                    • Little presence in Italy and Spain
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 35: Geographic coverage of leading European tour operators, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                    • Austria
                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 36: Personal and incoming travel and tourism expenditure in Austria, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                    • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                      • Transport
                                                                                                                                                                                                                                                                                                                                                                                                                        • Accommodation
                                                                                                                                                                                                                                                                                                                                                                                                                          • Outbound destinations
                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 37: Long holiday travel behaviour of Austrian population, 2005-09
                                                                                                                                                                                                                                                                                                                                                                                                                          • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                            • TUI Austria
                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 38: TUI Austria performance data, FY 2009-10
                                                                                                                                                                                                                                                                                                                                                                                                                            • Winter 2010/11 trading update
                                                                                                                                                                                                                                                                                                                                                                                                                              • ITS Billa Reisen Austria’s direct-marketing operator
                                                                                                                                                                                                                                                                                                                                                                                                                                • FTI Austria
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Belgium
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 39: Personal and incoming travel and tourism expenditure in Belgium, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 40: Trend in Belgian holidays, 2002-09
                                                                                                                                                                                                                                                                                                                                                                                                                                  • France remains number one
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 41: Ranking of holiday destinations by Belgian arrivals, 2002-09
                                                                                                                                                                                                                                                                                                                                                                                                                                  • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                    • Long-haul outperformed in summer
                                                                                                                                                                                                                                                                                                                                                                                                                                      • Winter 2010/11 bookings
                                                                                                                                                                                                                                                                                                                                                                                                                                        • Asia down 5%
                                                                                                                                                                                                                                                                                                                                                                                                                                          • Short haul
                                                                                                                                                                                                                                                                                                                                                                                                                                            • Ski destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                              • The TUI and Thomas Cook duopoly
                                                                                                                                                                                                                                                                                                                                                                                                                                                • TUI profit up
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 42: TUI Belgium performance data, FY 2009-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                • Winter 2010/11 trading update
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • France
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 43: Personal and incoming travel and tourism expenditure in France, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Over 5,000 agencies and tour operators
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 44: Trips by reservation channel and destination, 2008*
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Outbound destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 45: Travel to foreign countries and French overseas territories and départements, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 46: Top four tour operators* in the French market, 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • TUI France
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 47: TUI France performance data, FY 2009-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Marmara launches ‘les CosyClubs’
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Thomas Cook
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 48: Thomas Cook’s club portfolio, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Association Professionnelle de Solidarité du Tourisme
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Germany
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 49: Personal and incoming travel and tourism expenditure in Germany, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                        • The world’s biggest outbound market
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 50: German holiday travel propensity, 2005-09
                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Trend in holiday destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Share of domestic holiday rising
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 51: Trend in holiday destinations, 1999-2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Austria overtakes Turkey
                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Only 6.5% of trips are long-haul
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Long-term trends in transport and accommodation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 53: Long-term trends in transport and accommodation used on holiday trips, 1999 and 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Spending on holiday travel in 2009-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 54: Planned and actual holiday travel expenditure, 2008/09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Cost-saving options for 2010 were largely unchanged
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 55: Holiday expenditure planned for 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Outlook for 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • A rebound for Turkey in 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Spending on foreign travel to rise by 3% in 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 56: Long-term market trend in client numbers* and revenues*, 2002-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market share trends
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • The bigger ‘Middelstands’ have lost share
                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • But strong gains for Schauinsland-Reisen
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • The cruise boom continues
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 57: Ten leading tour operators in Germany (ranked by FY 2010 turnover), 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • TUI Germany
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 58: TUI Germany performance data, FY 2009-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Positive outlook for the winter 2010/11 season
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Ireland
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 59: Personal and incoming travel and tourism expenditure in Ireland, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 60: Trips and average length of stay by travel route for Irish outbound travel, 2008-09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Foreign holiday trips down 14%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Ireland’s biggest travel group in receivership
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Budget Travel lives on
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • A boon for TUI & Cook?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • TUI reports improved trading performance
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Italy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 61: Personal and incoming travel and tourism expenditure in Italy, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 62: Italian Holiday trips and overnights, by length of trip, 2007-09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Transport
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 63: Transport used in holiday travel by length of trip (in % of total), 2008-09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Accommodation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 64: Transport used in holiday travel by length of trip (in % of total), 2008-09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Holiday destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 65: Holiday destinations, by length of trip and region, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • France, the number one holiday destination
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • US and Egypt for outside Europe
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 66: Holiday destinations by length of trip, region and country, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Distribution channels
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 67: Holiday destinations by length of trip and region, 2008-09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • More than 150 tour operators
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Alpitour
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Ventaglio in liquidation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Kunoi wins bid for Best Tours
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Netherlands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 68: Personal and incoming travel and tourism expenditure in Netherlands, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Transport
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 69: Outbound holiday trips by type of transport, 2007-09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Accommodation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 70: Accommodation used for outbound holiday trips, by length of stay, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 71: Long holiday trips* by outbound destination in 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Most outbound travel involves a booking
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Over 1 million ski holidays
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Oad
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • TUI Netherlands
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 72: Netherlands performance data, FY 2009-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Thomas Cook
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Other competitors: Vacansoleil, Sudtours and De Jong Intra Vakanties
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Nordic region
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 73: Market shares by tour operator in Nordic region mainstream air charter market, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Thomas Cook
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Profitability up in spite of falling revenue
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Resorts & Hotels
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 74: Sunwing hotel portfolio, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • TUI
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 75: TUI Nordics* performance data, FY 2009-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Winter 2010/11 trading outlook
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Kuoni Scandinavia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Playitas
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Recent results
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Primera Travel Group
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 76: Primera brands, by country, 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • A new website for Icelandic tours
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Heimsferdir – Iceland outbound operator
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Primera Air
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Denmark
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 77: Personal and incoming travel and tourism expenditure in Denmark, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 78: Trend in holiday trips and average length of stay, 2007-08*
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Transport
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 79: Means of transport used on holiday trips, 2007-08*
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Accommodation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 80: Type of accommodation used on holiday trips (%), 2007-08*
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 81: Holiday trips by length and destination (%), 2007-08*
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Figure 82: Market shares by tour operator in Danish mainstream air-charter market, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Bravo Tours – Denmark
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Finland
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 83: Personal and incoming travel and tourism expenditure in Finland, 2009-19
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 84: Finnish residents' overnight leisure trips in December 2010 and for year 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Outbound destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 85: Top five destinations for leisure trips abroad with overnight stays in December 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Figure 86: Market shares by tour operator in Finnish mainstream air charter market, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Primera
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Norway
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 87: Personal and incoming travel and tourism expenditure in Norway, 2009-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 88: Outbound holiday trips and spending, 2002-09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Transport
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 89: Transport used by type of trip, Q4/2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Accommodation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 90: Accommodation used by type of trip, Q4/2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 91: Market shares by tour operator in Norwegian mainstream air charter market, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Solia – Norway
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Sweden
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Figure 92: Personal and incoming travel and tourism expenditure in Sweden, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 93: Leading destination countries for Swedish outbound leisure travel, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Transport
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 94: Market shares by tour operator in Swedish mainstream air charter market, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Thomas Cook – Ving
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 95: Destinations favoured by Ving customers, 2010-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • A boom in charter sales
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Strong trend in winter bookings
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Russia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 96: Personal and incoming travel and tourism expenditure in Russia, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Thomas Cook buys into Intourist
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Results took a severe hit in 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • JV includes both inbound and outbound
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Intourist, the leading Soviet-era travel group
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Intourist retains inbound market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Intourist part of Sistema
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Intensified vertical integration
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Intourist still number one in Russia
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Intourist management team to stay in place
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Switzerland
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 97: Personal and incoming travel and tourism expenditure in Switzerland, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Holiday trips up in 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • UK
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 98: Personal and incoming travel and tourism expenditure in the UK, 2010-20
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Market characteristics
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Transport
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Figure 99: Transport used in UK outbound holiday travel, 2005-09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Outbound travel sharply down
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • But average spending per trip is up
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 100: Overseas holiday trips and expenditure, 2005-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Destinations
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 101: Trend in UK outbound holiday travel by world region, 2005-09
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Packages continue to lose share
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Figure 102: Inclusive tours versus independent holidays, 2005-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Less Britons planning a holiday in 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Eurozone cheaper for UK holidaymakers
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Travel market
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • A difficult year for TUI UK
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 103: TUI UK/Ireland performance data, FY 2009-10
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Thomas Cook mergers distribution with The Co-operative Group
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 104: Details of portfolios for Thomas Cook and The Co-operative’s travel shop, 8 October 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 105: Details of expected annual synergies from the merger of Thomas Cook’s travel shops with The Co-operative Travel’s retail businesses, 8 October 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Distribution Trends

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Figure 106: European travel bookings, by type, 2008 and 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Market size by country
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • New EU countries account for only 8% of total European travel bookings
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Internet bookings to grow by 11% per annum 2006-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Figure 107: Trend in travel bookings by segment type in Europe, 2006-11
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Online travel growth outlook for 2011
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Europe fragmented market compared to US
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 108: Leisure and unmanaged online booking penetration by country, 2009
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • ‘Big 10’ versus ‘Big 4’
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Figure 109: Number of online players and online air booking volume* comparison by country, 2010
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Three different categories of OTAs
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • European OTAs outperform during recession
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Strong growth in Germany
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • OTAs just ramping up in Poland
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Metasearch – a potential threat?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Price the main driver
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Profitability a problem
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Opodo sold
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Private equity groups interested
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • A bid to create Europe’s leading OTA
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Opodo’s EBITDA up 46%
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • What Next?

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • Rising impact of social media
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • Travellers are active social-media users
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Mobile technology to the fore
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • Travel apps
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Destinations harnessing augmented reality
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Real-time travel information
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • Revenue-generating business model?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Travel sector forays into social media and mobile technology
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • How to measure the return on investment?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          • A European champion OTA?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            • Will consolidation be good for consumers?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              • The OTA/airline relationship
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                • Business model is evolving
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  • Dreamliner is coming ... finally
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    • An advertising and PR campaign
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      • Special features of the Dreamliner
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        • TUI’s GoldCare service agreement

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        Companies Covered

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        To learn more about the companies covered in this report please contact us.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        European Leisure Travel Industry - March 2011

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        £1,495.00 (Excl.Tax)