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European Leisure Travel Industry - Europe - September 2007
Market Report, September 2007, 2245  €


Description

About this reportMintel European Travel Exposure is a diverse yet detailed collection of reports examining the structure, size and dynamics of an industry experiencing constant change.
The series provides a continual assessment of the travel business throughout Europe (and, when available, providing a global analysis), offering an invaluable guide to the issues affecting the sector.
Exhaustive primary research from numerous specialist sources means that Mintel Travel Exposure titles examine more than general questions, investigating individual travel markets, each in a clear and concise manner, the research varying from country to country to outline the differences in outlook across the world.Whether you are a tour or hotel operator, tourist board, airline, business school, media agency or industry investor, our definitive research publications provide a genuine means to get to grips with challenging and exciting markets.

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Contents

Introduction
Summary of Key Findings
Data Sources
Market Characteristics – European Overview
Population structure
Figure 1: Number and percentage of the population aged 65 and over in European countries, 2005-50
Economic outlook
Gross Domestic Product (GDP)
Figure 2: Real GDP growth, 2005-08 (in % year on year)
Private consumption
Figure 3: Growth in real private consumption expenditure, 2005-08
Exchange rates
Figure 4: Average exchange rates against the euro, 2006-08
Internet penetration
Figure 5: Internet penetration in Europe, principal outbound travel countries, June 2007
Tourism and the economy
Figure 6: The European travel and tourism industry and the travel and tourism economy, 2007 and 2017
Expenditure on personal travel and tourism
Incoming receipts
Figure 7: Personal travel and tourism expenditure and incoming travel and tourism receipts, 2007 and 2017
Figure 8: Europe’s top ten spenders on outbound tourism, 2005-20
Market characteristics
Figure 9: European outbound travel, 2006
Figure 10: Top source markets for European outbound travellers, 2006
Overseas incoming markets
US
Figure 11: American arrivals in Europe, 2000-06
Figure 12: American outbound spending, 2005 and 2010
Japan
Figure 13: Japanese outbound tourism, by purpose of visit and destination, 2003
Figure 14: Japanese outbound spending, 2005 and 2010
Chinese outbound market – are current expectations overblown?
Figure 15: Forecast for Chinese outbound spending, 2005 and 2010
Luxury goods retailers have the most to gain from this market
Arrivals in Europe
Major Industry Players
Main events shaping the European leisure travel industry 2005-07
Ranking of the major players
Figure 16: Top 10 European leisure travel groups, 2005 and 2006
Strategy overview
Packages offer good value
The easyJet challenge
Most easyJet offers are urban short-break destinations
First Choice leads the way
Figure 17: Breakdown of First Choice’s mainstream business, winter 2005/06 – winter 2006/07
Figure 18: First Choice’s mainstream business, winter 2005/06-winter 2006/07
Long-haul to replace short- & medium-haul
Figure 19: Lease agreement run-off on short-haul & medium-haul fleet, FY 2007-13
Figure 20: Build-up of long-haul B787 capacity, FY 2007-13
The challenge is strongest in the UK & Scandinavia
Too early to sound the death knell for vertical integration
Merger mania
Thomas Cook/MyTravel
Figure 21: Thomas Cook’s market share by country
Figure 22: Breakdown of Thomas Cook’s revenue by segment
MyTravel has had its troubles
Most job cuts in the UK
Merger approved in early May 2007
Thomas Cook Group now trades on the stock exchange
Thomas Cook has a 22% market share
Figure 23: Overview of the combined operations of MyTravel & Thomas Cook, 2007
TUI/First Choice
TUI Hotels & Resorts to stay with German parent
Figure 24: TUI Hotels & Resorts portfolio, 2006
TUI plans biggest tourism project in the company’s history
Flat revenue trend in the tour package business
First Choice has focused on niche tourism products
Figure 25: Strategic fit and competitive positioning of the First Choice/TUI Travel combination, 2007
First Choice continues to build its specialist capacity
Figure 26: First Choice acquisitions during fiscal half-year, ending 30 April 2007
Positive booking trend for TUI
Figure 27: Trend in TUI bookings* as of April 2007
TUI Travel plc should command a 24% share of the European market
Figure 28: Key figures for the combined operations of First Choice & TUI Travel, 2007
Description of the new combined business
Other major operators
Rewe Touristik
Branding strategy
Figure 29: Overview of Rewe Touristik brands
Rewe is vertically integrated
Rewe hotels and cruise ships
Figure 30: Rewe’s hotel and cruise capacity, 2007
Outlook
Kuoni
Figure 31: Breakdown of EBIT* by strategic business unit, 2006
Kuoni has adopted a new business structure
Kuoni has been on a shopping spree
Avontuur.nu Topholding BV, Amsterdam
Las Playitas
Asian Trails Holding Ltd, Gibraltar
Holiday Supplies Ltd, Liverpool
Kirker Holdings Ltd, London
Sale of Intrav Inc, St Louis
‘UTE Megapolus’, Moscow
Share buyback programme
A positive booking trend
Figure 32: Year-on-year growth in Kuoni’s bookings by source market, April 2007
Hotelplan
Figure 33: Turnover by Hotelplan subsidiary, 2006
Stuck in the middle?
Hotelplan is selling underperforming assets
Belair partnership with Air Berlin
Hotelplan is expanding its specialist and upscale offerings
Travelhouse
Globus Reisen
Figure 34: Globus Reisen travel offerings, 2007
Interhome
Figure 35: Interhome key figures, 2005-06
Group profitability deemed insufficient
Figure 36: Hotelplan’s consolidated profit and loss, 2005-06
Club Med
The Club is moving upmarket
Figure 37: Club Med capacity by category and region (in % and thousands of hotel days), 2005-07
Accor shareholding reduced
Figure 38: Club Med shareholder structure as of 17 April 2007
Underlying profitability is improving
Figure 39: Key performance data for Club Med, winter 2006-winter 2007
Figure 40: Club Med first-half fiscal year results, 2006 & 2007
Refinancing transactions
Outlook
Figure 41: Market potential by region, 2007
Moving the villages upmarket
A new 5-Trident category, including villas
New offers for families
‘Bar & Snacking Included’ & ‘Comfort à la Carte’
Increasing online sales: a strategic objective for Club Med
Distribution tie-up with Carrefour
Summer 2007 bookings – Jet tours down 15%
The future of Jet tours?
Alltours
Operating performance
Figure 42: Alltours operating performance, 1999-2006
Strategy
Expansion into foreign markets
Thailand, a new destination
New management structure
Outlook
Alpitour World
Figure 43: Alpitour World Hotels & Resorts
Outlook
Major Players by Country/Region
Figure 44: Geographic coverage of leading European tour operators, 2007
Austria
Key trends
Figure 45: Austrian source market destinations for TUI customers in the summer season, 2005-06
Figure 46: Leading leisure travel groups in Austria, by turnover*, 2005/06
Major players
Belgium
Key trends
Thomas Cook
TUI
Figure 47: Belgian source market destinations for TUI customers in the summer season, 2005/06
A virtual duopoly
Figure 48: Leading leisure travel groups in Belgium, by turnover, 2005/06
Major players
Figure 49: TUI Airlines, 2005-06
Eastern Europe
Hungary
Poland
TUI
Thomas Cook
Orbis Travel
Airlines
Major players
Russia
Figure 50: The top ten Russian tour operators in terms of revenues* in 2005
Three Western tour operators in the market
Figure 51: Market shares of Russian package tour market, 2006
Distribution
Package tour destinations
Figure 52: Package tour destinations for Russian tourists (in %), 2005
Russian tourists not always welcome
Outlook
France
Figure 53: Trend in French tour operator passenger numbers over year from 1/11/2005 to 31/10/2006
Figure 54: Trend in medium -haul package destinations over the year from 1/11/2005 to 31/10/2006
Figure 55: Trend in long -haul package destinations over the year from 1/11/2005 to 31/10/2006
Accor changes partners
Tour operator performance
Figure 56: Top ten French tour operators by turnover
Club Med
Nouvelles Frontières (TUI)
Figure 57: French source market destinations for TUI customers in the summer season, 2005-06
Figure 58: Flight operations – key figures for Corsair, summer season, 2006
Marmara
Figure 59: Principal Marmara destinations, 2006
Eurodisney Vacances SAS
Fram
Pierre & Vacances/Maeva/Résidences MGM
Figure 60: Group turnover by segment, 2004/05 & 2005/06
Go Voyages
Jet tours
Kuoni France
Thomas Cook
Look Voyages
Figure 61: Look Voyages results, 2004-06
Major players
Germany
Key trends
Stagnation for package tours
Little change in market shares
Figure 62: Ten leading tour operators in Germany, 2006
TUI Deutschland
Figure 63: German source market destinations for TUI customers in the summer season, 2005-06
Thomas Cook
Rewe Touristik
Alltours
FTI
Öger-Gruppe
Aida Cruises
L’Tur
Phoenix
GTI Travel
Medium-sized operators win market share
Smaller operators pay better commissions
Fewer travel agents and stagnating sales
Major players
Italy
Key trends
Costa Crociere
Ventaglio
Hotelplan Italy
Figure 64: Leading Italian leisure travel groups, by turnover, 2006
Major players
The Netherlands
Key trends
OAD
Figure 65: OAD performance figures, 2003-06
TUI
Figure 66: Dutch source market destinations for TUI customers in the summer season, 2005-06
Distribution
Thomas Cook
Vacansoleil, Sudtours & De Jong Intra Vakanties
Kuoni
First Choice & Holidaybreak
Figure 67: Leading leisure travel groups in the Netherlands, by turnover, 2006
Major players
The Nordic Region
Key trends
Thomas Cook (formerly MyTravel)
TUI
Figure 68: Nordic source market destinations for TUI customers in the summer season, 2005-06
Figure 69: Flight operations TUIfly Nordic – Key figures, Summer season, 2006
Distribution
Kuoni
Figure 70: Kuoni Scandinavia turnover by country, fiscal year, 2006
Figure 71: Leading leisure travel groups in the Nordic region, by turnover, 2005/06
Major players
Spain
Key trends
Iberostar
Globalia
Switzerland
Key trends
Kuoni
Hotelplan
Figure 72: Destination trend for HPSG, fiscal 2005/06
Hotelplan expands with Travelhouse purchase
Figure 73: Travelhouse specialist tour operators, 2007
Outlook for fiscal 2007
TUI
Figure: Swiss source market destinations for TUI customers in the summer season, 2005-06
Distribution
Figure 74: Leading leisure travel groups in Switzerland, by turnover, 2006
Major players
The UK
Key trends
Cruising a growth segment
Figure 75: Projected growth in UK online sales of leisure and unmanaged business travel, 2006-11
Figure 76: Demographic profile of UK Internet users who visited travel websites, March 2007
TUI/Thomson
Figure 77: UK source market destinations for TUI customers in the summer season, 2005-06
Figure 78: Flight operations UK – Key figures
Distribution
Thomas Cook
MyTravel
First Choice
Kuoni
Holidaybreak
Inghams/Hotelplan
Figure 79: Leading leisure travel groups in the UK, by turnover, fiscal 2006
Major players
Trends and Issues in the European Travel Industry
Distribution trends
Figure 80: Trends in the European travel market size, 1998-2006
Low-cost carriers are driving online bookings
Figure 81: Breakdown of online travel reservations in Europe by type, 2006
The UK accounts for more than a third
Figure 82: Breakdown of online travel reservations in Europe by country/region, 2006
Direct versus indirect
Figure 83: Disappearance of commission across markets; domestic commission cuts across markets
Figure 84: Trend in the proportion of direct versus indirect online travel sales in Europe, 1998-2006
Sweden and Italy favour intermediaries
Figure 85: Direct versus indirect online travel sales by country, 2006
The leading online travel sites
Figure 86: Top European travel sites by number of European visitors, aged 15+ March 2007
Expedia
ViaMichelin
TUI’s online sales are exploding
Figure 87: Growth in TUI’s online sales, 2000-06
Lastminute.com
Priceline’s booking.com subsidiary
Amadeus
Opodo
Travelport
Figure 88: Travelport’s global business segments, 2007
Budget airlines
Figure 89: Principal LCCs in Europe, 2006
The LCC market in Spain
Air Berlin buys LTU
Cruising
Figure 90: Growth in European cruise passengers, 1995-2005
Cruising markets
Figure 91: Western European cruise market 2003-05
Cruising passenger profile
European cruising capacity
The Mediterranean
Northern Europe
Outlook for capacity growth
Figure 92: New wordlwide cruise ship capacity in the pipeline at end 2005
What Next?
Risk of a slowing economy
Ageing of the population – risk or opportunity?
Implications of the currency outlook
Future long-haul travel – reserved for an elite?
Rail – the wave of the future?
Growth to be in modular trips
Figure 93: Expected development of the European leisure travel market, 1990-2010
‘Mass customisation’ – the way forward
Figure 94: Travel industry trends
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