TUI Cruises and Marella Cruises Deliver Improved Revenue Performance Despite Middle East Operational Setbacks

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TUI Cruises and Marella Cruises recorded stronger revenue performance in 2026 despite operational disruptions in the Middle East, as rising cruise fares, resilient passenger demand, and expanded fleet capacity helped offset the impact of Gulf voyage cancellations.

Despite voyage cancellations and operational disruptions caused by tensions in the Middle East, TUI Cruises and Marella Cruises delivered stronger revenue performance in 2026 as higher passenger spending, rising daily cruise rates, and expanding fleet capacity helped offset the impact of Gulf itinerary disruptions.

TUI Group achieved strong earnings growth across its cruise business during the first half of 2026, even as geopolitical tensions in the Middle East disrupted several itineraries and temporarily affected occupancy levels.

The travel company’s cruise portfolio, which includes TUI Cruises, Hapag-Lloyd Cruises and Marella Cruises, continued to benefit from solid demand and higher pricing during the period. Underlying EBIT for the division climbed to 163.5 million euros in the first six months of the year, marking a year-over-year increase of 25.9 percent.

Despite the positive performance, operations were challenged by the ongoing conflict involving Iran, which created significant disruptions for vessels operating in the Gulf region. During the second quarter, the cruise business generated underlying EBIT of 80.3 million euros, although the company absorbed around 20 million euros in costs connected directly to the regional crisis.

The largest operational setback involved Mein Schiff 4 and Mein Schiff 5. Both ships became stranded in Persian Gulf ports after rising regional tensions forced itinerary suspensions and voyage cancellations between April and mid-May 2026.

The disruptions interrupted planned sailings and affected booking momentum during part of the spring season. Following a temporary easing of tensions, both vessels safely departed the Gulf on April 18 and are now preparing to operate scheduled Mediterranean summer itineraries.

The conflict had a noticeable effect on occupancy across the cruise division. First-half occupancy reached 93 percent, compared with 97 percent during the same period a year earlier. However, adjusted figures suggest occupancy would have increased to 98 percent without the cancellations linked to the Gulf disruptions.

Although the conflict impacted passenger volumes, pricing remained resilient across all three cruise brands. Average daily rates increased by two percent year-over-year to 223 euros, highlighting sustained customer demand for premium cruise vacations even during uncertain market conditions.

Fleet growth also contributed to the division’s overall expansion. Available passenger cruise days rose 10 percent to 2.9 million during the first half of 2026, reflecting the company’s continued investment in new ships and expanded capacity.

A key part of TUI’s long-term growth strategy is the rollout of additional vessels under the Mein Schiff brand. Mein Schiff Relax officially entered service in March 2025, strengthening the company’s premium cruise offerings in Europe. Another new ship, Mein Schiff Flow, is scheduled to begin operations in mid-June 2026.

The addition of Mein Schiff Flow is expected to support another increase in capacity during the second half of the year. TUI forecasts available passenger cruise days to grow by six percent in H2 2026 as the vessel joins the fleet during the peak summer season.

Booking trends for the second half remain slightly below last year’s levels because of the earlier Gulf-related cancellations. Current occupancy bookings are tracking two percentage points lower year-over-year. However, pricing continues to move upward, with average daily rates for the remainder of the year projected to rise three percent compared with H2 2025.

Across the first six months of 2026, the cruise division’s average daily rate improved 0.6 percent to 217 euros. During the second quarter, average rates climbed 2.2 percent to 223 euros.

TUI Cruises also recorded stronger onboard revenue performance. Ticket revenue per achieved passenger day increased to 211 euros during the first half, while second-quarter revenue per passenger day reached 216 euros, reflecting continued spending strength among travelers.

Meanwhile, Marella Cruises delivered some of the strongest pricing gains within the group. The company’s average daily rate rose 5.2 percent during the first half to 201 pounds, while second-quarter rates advanced 5.7 percent year-over-year to 205 pounds.

Despite Middle East operational disruptions and Gulf itinerary cancellations, TUI Cruises and Marella Cruises improved revenue performance in 2026 through higher cruise pricing, strong passenger demand, and expanded fleet capacity.

TUI Cruises and Marella Cruises improved revenue performance in 2026 despite Middle East operational setbacks, supported by higher cruise pricing, strong passenger demand, and expanding fleet capacity.

The latest results demonstrate how Europe’s cruise sector continues to experience steady growth despite temporary geopolitical disruptions, with demand, pricing power, and fleet expansion supporting strong financial performance across the industry.