TUI’s CEO, Sebastian Ebel, revealed that Greece is the top choice for travelers this year, with some TUI hotels already fully booked for the summer.

Turkey and Spain, on the other hand, still have ample availability. Ebel also mentioned that TUI is expected to turn a profit this year after repaying the government for pandemic-related aid. However, he cautioned that the era of inexpensive flights and last-minute holidays is drawing to a close. Due to high demand, prices for package holidays and last-minute flights will be higher this year. Ebel warned that finding last-minute holiday deals during the summer will be challenging, signaling an end to the days of ultra-cheap flights. This aligns with similar statements made by Ryanair CEO Martin O’Leary earlier in the year, who announced the discontinuation of £9.99 fares for the summer.

Ebel attributed the rising prices to the extraordinary demand in the travel industry, as people remain eager to go on vacations despite the rising cost of living. In the past, unsold holidays would often be available at discounted rates shortly before departure, but the current high demand is expected to limit such deals. Ebel stressed that prices are more likely to increase rather than decrease just before departure, as hotels and airlines recognize the trend of last-minute bookings. He clarified that spontaneous bargains would be exceptions rather than the norm.