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Intercruises Shoreside & Port Services

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About Intercruises Shoreside & Port Services

DiTUI has the European travel business cornered. Through its tourism umbrella of companies, TUI holds a majority stake in TUI Travel, which sells leisure travel packages and provides other travel services under some 200 brands in some 20 countries. TUI Travel & Resorts' hotel portfolio counts around 250 hotels in about 30 countries. (Hotel brands include – more... Riu, Grecotel, and Dorfhotel.) The company's cruise segment includes subsidiary Hapag-Lloyd Cruises, a leading provider of discovery and luxury cruises to the German market, and TUI Cruises, a joint venture with Royal Caribbean Cruises. The travel company also owns a majority stake in container ship operator Hapag-Lloyd AG.

The company's revenues (turnover) for fiscal year-end 2011 (ends September) increased by 7% compared to the prior year. Also, operating earnings for that same year gained ground by 2% versus the prior year. TUI substantially reduced its debt load from €2.3 billion ($3.1 billion) in 2010 to €816.7 million ($1.1 billion) in 2011. This was accomplished by the improvement in working capital in the TUI Travel business and the lower cash flow impact from restructuring costs. Also, payments from its investment in Hapag-Lloyd further reduced debt and the restructuring of loan payments to lower interest rates.

As for its segments, the company's TUI Travel, which accounted for around 95% of revenues in 2011, increased by 7% in 2011 compared to 2010. Its hotels & resorts segment gained by close to 3% in 2011 versus the prior year. The company's cruise ship operations gained good ground by some 12% in 2011.

Great Britain, Germany, and the other EU countries accounted for about 90% of revenues (turnover) in 2011. Great Britain and Germany represented 29% and 27% of revenues, respectively.

TUI and Hapag-Lloyd's other owner are exploring taking the container ship operator public. A public offering would mark TUI's exit from the economically sensitive container shipping business, something the travel company has been seeking since it sold it a majority stake in the business in 2009. TUI has said it may use the proceeds from the sale of Hapag-Lloyd to add to its 55% stake in TUI Travel. In addition to entertaining an IPO, TUI is selling a roughly 17% stake in Hapag-Lloyd to majority owner Albert Ballin, a consortium of investors that purchased a controlling stake in the container business in 2009. TUI is selling its stake for roughly €475 million ($640 million) and will leave it with a remaining 22% stake in Hapag-Lloyd. The company had aimed to undertake the IPO during 2011, however, the deals was postponed due to the weakened global equity markets. 

S-Group Travel Holding GmbH owns about 25% of TUI AG. Activist TUI shareholder John Fredriksen owns about 15% of the company. – less

Intercruises Shoreside & Port Services Employer Reviews

Staff Member (Former Employee), San Diego, CADecember 4, 2014
Guest Service Agent (Former Employee), Bayonne, NJAugust 9, 2014
Accounting Specialist (Former Employee), Miami, FLDecember 19, 2012
Teamleader (Current Employee), Barcelona, CTOctober 16, 2014

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