Tourism - FTI bankruptcy boosts booking figures for competitors
The insolvency of travel agent FTI leads to increasing booking numbers among remaining travel agents. TUI and Alltours now report significant growth as well. "Currently, we are seeing – influenced by the changed market conditions – significant guest growth," said Ingo Burmester, head of the Mitteleuropa region at Alltours with the brands Dertours, ITS, and Meiers Weltreisen. "We expect about 400,000 additional guests for summer and winter bookings in the coming months."
Alltours spoke of growth rates in the double-digit percentage range. "With the additional demand effect from the FTI insolvency, we are calculating with record growth of over 20 percent in the current business year," said a spokesperson for the German Press Agency. "We have taken on FTI contingents from hotel and airline companies for the summer and expanded our short-term and last-minute offers accordingly."
Sudden increase in bookings
Market leader TUI had already reported in June on a sudden increase in booking numbers and added 300,000 additional places to its program. "Holiday destinations around the Mediterranean are more popular than ever and enable us to surpass the good booking situation from the previous summer," said TUI Germany CEO Stefan Baumert in a statement. After the FTI bankruptcy, bookings have once again increased significantly.
FTI, previously the third largest German travel agent after TUI and Alltours, filed for insolvency at the beginning of June and shortly thereafter canceled all already booked trips. Payments already made for package tours were secured by the German Travel Security Fund.
- The unexpected insolvency of FTI, a major German travel agent, has prompted a surge in bookings for DER Tourism, a subsidiary of TUI.
- Ingo Burmester, head of Mitteleuropa region at Alltours with brands like Dertours, ITS, and Meiers Weltreisen, noted a significant guest growth due to the altered market conditions.
- Following the insolvency of FTI, Hanover-based Alltours anticipates an additional 400,000 guests for both summer and winter bookings in the near future.
- TUI, the market leader in German tourism, observed a sudden increase in reservations in June, adding 300,000 more spots to its program, with holiday destinations around the Mediterranean being particularly popular.
- After the FTI bankruptcy, both TUI and Alltours have experienced significant growth, benefiting from the increased demand in the German tourism sector.
