TUI Cruise Unit Posts Record First Quarter Results

TUI’s cruise division reported its strongest-ever first quarter performance for 2026, with underlying EBIT rising 70.8 percent to €82.3 million, compared with €48.2 million in the same period last year. The results were supported by strong demand and the continued expansion of the fleet.

A key driver was the introduction of Mein Schiff Relax to the winter schedule, which lifted available passenger cruise days by 15.9 percent to almost 3 million. Even with the added capacity, occupancy reached 98 percent, representing a three percentage point increase year over year.

Segment revenue increased by 6.2 percent to €186.8 million. The German-language TUI Cruises joint venture contributed earnings after tax of €62.7 million. Its 13-ship fleet, made up of nine Mein Schiff vessels and four ships from Hapag-Lloyd Cruises, achieved 98 percent occupancy while maintaining an average daily rate of €206.

Marella Cruises, TUI’s UK cruise brand, also delivered a solid performance. Occupancy across its five-ship fleet reached 100 percent, up two percentage points from last year. Average daily rates rose 4.8 percent to £197, highlighting strong pricing conditions in the UK market.

The positive trend is expected to continue into the second half of fiscal 2026. Available passenger cruise days are forecast to increase by 9 percent in the second quarter and by 6 percent across the full second half, supported by the summer 2026 debut of Mein Schiff Flow, which will add around 4,000 berths to the fleet.