Holiday sales remain robust

Monday May 18th, 2009

Holiday sales remain robust, says Thomas Cook and Turkey a top bargain destination for a credit crunch summer...

Europe's second-biggest travel firm Thomas Cook has reported a robust trading performance, with its first half loss narrowing by 15.6 per cent - ahead of market forecasts.

Thomas Cook, in which Germany's Arcandor has a 53 per cent stake, said it made an operating loss of £110.9million ($167.7million) in the first half, compared with £131.4million the previous year.

Tour operators traditionally make a loss in the first half, which does not include profits from the key summer period.

Thomas Cook said UK bookings for the summer were down 12 per cent to date, with the figure excluding Mexico off 10 per cent in the last three weeks - in line with a planned capacity reduction of 10 per cent.

Average selling prices are up 9 per cent, the firm added. It said UK demand for destinations outside the eurozone continued to show growth and at 39 per cent of all holidays is up 8 per cent year on year, with Turkey up 28 per cent and Egypt 20 per cent higher.

Also a study by Thomas Cook found that many foreign destinations are actually cheaper than holidaying in Britain. The study found that many countries are ‘significantly cheaper’ when it comes to the price of a beer or a three-course meal.

Turkey was once again listed amongst the top 10 for bargain destinations this summer.

Turkey

Turkey offers some amazing coastline, including Belcekiz beach on the Mediterranean Coast. The area where the Aegean and Mediterranean Seas meet is known as Turkey’s Turquoise Coast, and the coastline is dotted with pristine beaches and inviting resorts. If you tire of all that sun-worshipping, head for Istanbul, which offers famous sites, nightlife that goes on until dawn and some of the best value shopping in Europe.

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