Partner Spotlight: The TUI Group
As we moved to create a Resort experience to suit every type of holidaymaker on the Island of Sal, our natural partners were the TUI Group and their Sensimar brand. Concentrating on relaxing, stylish holidays at adults-only destinations, this synergy tapped into a market that The Resort Group PLC was keen to introduce to the laidback, undiscovered Cape Verde Islands.
The TUI Group is the largest leisure, travel and tourism company in the world, having stepped onto the service industry world stage in 1997. Merging with First Choice Holidays in 2007, the business is now recognised as a key global player, servicing 20 million customers in 180 regions. It boasts 1,600 travel agencies and leading online portals, six touristic airlines with around 150 aircraft, over 300 hotels with 214,000 beds, 14 cruise liners and countless incoming agencies in all major holiday destinations around the globe.
Fastforwarding to 2017, the Group has just released its quarterly results statement for the first quarter of this year, a positive report that spoke of a “growth in long haul and cruise” ambitions for TUI. Indeed, as all travel institutions face a new global market, this report brought good news for the company including a turnover up 8.5%, with continued growth in its hotel, cruise and concept brands. Citing an emergent popularity in new destinations, the group has been “expanding our unique concepts in third party hotels, with several additions to the Sensimar and Family Life portfolio this Winter, including Lanzarote, Thailand, Mauritius and Cape Verde.”
Continuing to deliver this progressive strategy, which is designed to transform the Group into the world’s leading integrated tourism business based on own brands, it is TUI’s scale and strong integrated business model that gives them a strong competitive advantage, especially against what they call an uncertain geopolitical and macroeconomic backdrop. The report summarises that “as anticipated, trading reflects a continued shift away from Turkey (which accounted for around 8% of Source Market Summer 2016 bookings) to alternative destinations.” This includes our recently opened Sensimar Cabo Verde, on the idyllic Island of Sal – a peaceful refuge designed for adults and the perfect place for luxurious relaxation.
It is clear from this recent report that TUI sees Cape Verde as a significant growth area, alongside other key destinations, as we enter a period of peak Summer 2017 bookings. Something that hasn’t gone unnoticed in the press. The Financial Times recently analysed the growing popularity of destinations like Cape Verde in its coverage, highlighting that bookings for the summer are 4% higher and revenues are 9% higher than this time last year.
It all suggests a promising year ahead for our partnership with TUI and Sensimar, especially given these growth projections. For more information on our partnership with the world’s leading leisure, travel and tourism company and how it impacts on our investment opportunities, get in touch today via our contact page.