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Thomas Cook and TUI Travel offer some value as FTSE 100 heads south PDF Print E-mail
Written by Sam Coventry   
Friday, 13 August 2010 09:49

Goldman Sachs takes a look at the struggling holiday and tour operators.


The FTSE 100 (INDEXFTSE:.FTSE) is giving up its morning gains, the index is 0.05% higher at 5268. The falls come despite strong GDP figures from Germany and the Eurozone.

Thomas Cook Group Plc (LON:TCG) and TUI Travel (LON:TT) have both been given guidance prices by the equity analyst team at Goldman Sachs.

The two tour operators have had a torrid week, plunging on the FTSE 100 after announcing poor results to the markets.

Thomas Cook Group has been set a target share price of 220, this is 24.65% higher than at this morning's opening.

TUI Travel has also been set at target of 220, this is however only 14.23% higher than this morning's open.

At present TUI Travel shares are up sharply by 5.09% at 202.40, still well off the 225 level shares were sitting at prior to the announcement of poor results.

Thomas Cook Group share are in an attempted rally this morning coming in 1.25% higher at 178.70,

Thomson Holidays owner, TUI Travel, added to fears about weak consumer sentiment after warning annual profits would be hit by slowing sales and bargain hunting sun seekers.

TUI said third quarter sales had slowed as Brits were waiting until the last minute to book cheaper summer breaks, hitting the package holiday group’s margins.

Thomas Cook, Europe's second-largest travel operator by sales behind TUI Travel, said that it will now try to sell more premium four or five star holidays and will focus on Turkey in an attempt to mitigate the weakness in the U.K.

Four and five star holidays are proving popular because they're generally all-inclusive, meaning holiday-makers know most of their costs before they depart, the company said.

Two star hotels are generally self-catering, meaning holiday-makers can't account for the amount they may have to spend on food and drink while on vacation.

Turkey has emerged as a popular destination for U.K. holiday-makers this year as the pound will go further than in neighboring Greece, part of the euro zone which has always traditionally been one of the most popular destinations for British tourists.
Last Updated on Friday, 13 August 2010 09:52
 

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