Hanover, 8 July 2020

TUI Group: Sale of Hapag-Lloyd Cruises to TUI Cruises completed

  • Successful transfer of Hapag-Lloyd Cruises into TUI Cruises joint venture
  • Completion of the sale as planned in February 2020

The TUI Group has successfully completed the sale of its subsidiary Hapag-Lloyd Cruises to TUI Cruises. Hamburg-based TUI Cruises is a joint venture between TUI and Royal Caribbean Group. The joint venture TUI Cruises, which has developed very successfully since 2008, will thus be expanded as planned. TUI had agreed the sale in February. The enterprise value was estimated at 1.2 billion euros.

All approvals including merger clearance by the EU commission have now been fulfilled. The transaction is closed in a difficult market environment on the terms and conditions agreed. The transfer of the individual Hapag-Lloyd Cruises vessels  to the joint venture will be completed in the coming days.

In its new set-up, the Hapag-Lloyd Cruises brand will remain the leading provider of luxury and expedition cruises in German-speaking markets. The fleet currently consists of two luxury cruise ships (MS Europa and MS Europa 2) in the 5-star-plus category and three expedition cruise ships. A further expedition cruise ship is already under construction and will be delivered in 2021, replacing MS Bremen.

TUI Cruises successfully serves the premium segment in German-speaking markets with the “Mein Schiff”. The “Mein Schiff” fleet currently comprises seven ships.

About TUI Group

The TUI Group is one of the world's leading tourism groups and operates worldwide. The Group is headquartered in Germany. TUI shares are listed in the MDAX index of the Frankfurt Stock Exchange and in the regulated market of the Lower Saxony Stock Exchange in Hanover. TUI Group offers its 19 million customers integrated services from a single source and forms the entire tourism value chain under one roof. The Group owns over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 17 cruise ships, ranging from the MS Europa and MS Europa 2 in the luxury class and expedition ships in the HANSEATIC class to the Mein Schiff fleet of TUI Cruises and cruise ships operated by Marella Cruises in the UK. The Group also includes Europe's leading tour operator brands and online marketing platforms, for example for hotel-only or flight-only offers, five airlines with more than 130 modern medium- and long-haul aircraft and around 1,200 travel agencies. In addition to expanding its core business with hotels and cruises via successful joint ventures and activities in vacation destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a global tourism platform company.  

Global responsibility for sustainable economic, environmental and social action is at the heart of our corporate culture. With projects in 25 countries, the TUI Care Foundation initiated by TUI focuses on the positive effects of tourism, on education and training and on strengthening environmental and social standards. In this way, it supports the development of vacation destinations. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.