High hotel rates cause summer holiday packages to rise by 9%

Published on : Thursday, February 9, 2017

phillip-island-travel-saferPost-referendum slump in sterling and rate-hikes by Spanish hoteliers has splurged the holiday package price rates by 9 per cent than previous year.

 

Partly because of the prevailing high prices in Spain, bookings to Greece for summer 2017 are up by nearly half. Tourism decline in Turkey is a major cause for the hike in Hurghada in Egypt. figures from Thomas Cook covering October to December 2016 fiscal year results confirmed the same. The firm said average selling prices for outbound holidays from the UK are 9 per cent higher than a year ago.

 

Peter Fankhauser, Chief Executive of Thomas Cook, said that the bookings to Greece are currently up by over 40 per cent, while demand for destinations such as Cyprus, Bulgaria, Portugal and Croatia is also strong. These positive trends are making up for continued weak demand for Turkey.

 

Demand for Greece last year was dampened by reports about large numbers of migrants passing through the islands. The strong competition amongst the low-cost airlines also suggests that flight-only prices for the coming summer are no higher than last year. Ryanair predicted recently that the airfares would fall during 2017. Cuba and Mexico are proving popular, at the expense of Florida amongst the long haul choices.

 

Thomas Cook is the UK’s second-biggest tour operator after Tui, and has pan-European business. It revealed in the first quarter fiscal year result that revenue se by 1 per cent to £1,618m, with the usual seasonal loss £1m lower at £49m.

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