Thomas Cook hails ‘significant’ improvement in UK late sales

Thomas Cook hails 'significant' improvement in UK late salesThomas Cook reported UK trading in this summer’s lates market has “improved significantly”.

The group posted third-quarter results for the three months to June this morning, reporting UK bookings for the summer to date flat year on year and average selling prices down by 4%.

However, Thomas Cook noted: “Recent booking volumes in the ‘lates’ market have improved significantly, indicating a later booking pattern for the summer season than last year.”

The company described both UK bookings and average sales prices as “broadly similar to when we previously updated the market in May” – although in May, Cook reported UK bookings for the season down 4% year on year.

Cook reported 85% of UK summer capacity sold – “the same as this time last year”.

“Lower average selling prices are mainly due to product mix and a higher proportion of shorter duration holidays reflecting customer demand,” it said.

Cook added: “We expect selling prices to improve over the medium term as we sell a higher proportion of exclusive hotel product to UK customers.

“Bookings for these products have shown strong growth for the Summer 2014 season, and we expect this will make a more meaningful impact on average selling prices in 2015.”

Cook reported being “very encouraged” by UK bookings for this winter “which are over 7% higher than last year, with an increase in average selling prices of 3%”.

Bookings and average sales prices in Continental Europe were flat year on year, but sales in Central Europe – including Germany – were up 2% on last year.

Cook reported bookings in Northern Europe 4% higher than last year although average selling prices were 1% lower.

Bookings were also up by 2%, but prices down 4%, at the group’s German airlines.

Sourced from Travel Weekly


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