TUI says rise in bookings points to sustained recovery

FRANKFURT (Reuters) - Holiday group TUI recorded 1.3 million bookings in the past four weeks, chief executive Fritz Joussen told staff in a letter seen by Reuters on Sunday, pointing to a sustained recovery from the pandemic.

The world's largest holiday company had in March reported 8.9 million bookings for the period stretching from winter to summer this year, as the number of holidaymakers rose toward pre-pandemic levels.

"Two trends are obvious: bookings are becoming considerably more premium and they are being made at a considerably shorter notice," Joussen wrote to staff. "This is good for turnover, margins and profitability."

TUI said earlier this year that summer holiday bookings were approaching pre-COVID levels on pent-up demand, with a steady recovery in Britain since restrictions and testing rules were lifted.

(Reporting by Olaf Brenner; Writing by Joseph Nasr; Editing by Alexandra Hudson)