The analysis of project plan of TUI travel agency Essay

The analysis of project plan of TUI travel agency - Essay Example TUI is abbreviated for Touristik Union International. It was established in 1968. TUI headquarters are located at Berlin, Germany and its official website is www.tui.com. TUI is the largest integrated tourism group in Europe, lagging far behind its competitors with a turnover of about â‚ ¬ 21,866 million in 2008. Initially, it company worked as Preussag AG, and gained a renowned fame in the field of transportation and industrial sector till 2001. This year, it became a 100% subsidiary of Preussag AG. In next year, Preussag AG was transformed into TUI AG. During next few years, TUI developed and changed its production from industrial segment to a modern tourism and shipping company. At present, the company has an extensive network all over the world and is a market leader of tourism industry in Europe. The main areas of operations include tourism, shipping, tour operators, airlines, travel agencies, hotels, resorts, retail stores, cruises, ship containers, and incoming agencies. TU I has â‚ ¬14,917.5 million current and non-current net assets and liabilities. On December 2008, TUI had 70,200 employees , 285 hotels in 28 different countries including 84% four or five star hotels, 79 tour operators in 18 countries, 120 aircraft, 10 cruise liners, and 443 subsidiary companies. One of the unmatchable entrepreneurial landmarks of TUI is its continuous structural progress and upgrading services offered to worldwide customers. Contrary to its rivalry, TUI is very successful in both the tourism and shipping divisions because of its advanced attractive products and services as well as the expansion of new and strong brands. However, the performance of TUI has been affected badly due to ongoing war against terrorism, natural calamities, global recession and lack of customer confidence. Prior to 9/11, TUI had more dynamic growth from 1995 to 2001. Post 9/11 affects really restricted the TUI’s expansion strategy especially in various countries of Asia. Since China is an emerging market, therefore TUI had planned a broad strategy but war in Afghanistan and its further affects in Pakistan kept TUI to hold up its venture