TUI Blue Locks In Eight New Resorts as Pale Fire Capital Lifts Stake Past 5%
Published on 11/11/2026 at 17:42 | Editorial boerse-global.de
TUI's hotel arm has signed contracts for eight new properties across Egypt, Bulgaria, Croatia and Portugal, extending the group's resort pipeline into the summer of 2029. The announcement lands alongside a separate disclosure that Czech investor Pale Fire Capital SE has raised its voting stake in the travel group to 5.15%, up from roughly 3.0% according to media reports.
The stake increase was published in a mandatory voting-rights notification on 30 October, with the threshold crossing dated 27 October. TUI shares climbed 5.94% on 2 November — a move media coverage linked to the stake build as well as to hopes of de-escalation in the Middle East and falling oil prices.
Egypt Takes the Bulk of the Slate
Five of the eight contracted hotels fall under TUI Blue's partnership with JAZ in Egypt. Vistamar and Makadi Oasis in Hurghada are slated to open in summer 2027, followed by Palace Sharm and a new-build in Hurghada in summer 2028. A further new-build in Marsa Alam is scheduled to close out the Egyptian programme in summer 2029, giving the rollout a staggered shape spread across several summer seasons.
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Renovation and Expansion Across Europe
On the European side, the plans blend refurbishment with capacity growth. The Arabella in Varna is due to reopen in summer 2027 with 294 rooms following renovation, while the Diane on Croatia's Bra? island is set to launch in the same season. The Diane will start with 120 rooms before expanding to 155 from 2028 — a phased build-up that gives investors a visible capacity trajectory. Madeira's Calheta Beach completes the European line-up, opening in summer 2027 with 153 rooms and adding an Atlantic island location to the Black Sea and Adriatic sites.
Whether the expansion translates into earnings depends on delivery. The contracts establish a concrete basis for a broader hotel offering, but the economic benefit hinges on the properties opening on schedule and attracting demand. The next verifiable milestones are therefore the announced openings and the subsequent expansion on Bra?.
Results Date and Guidance in View
Attention now turns to 9 December, when TUI will publish its fiscal 2026 annual results alongside its annual report, an analyst event and its balance-sheet press conference. TUI sharpened its earnings guidance on 22 September, forecasting adjusted EBIT of EUR 1.2 to 1.3 billion for fiscal 2026, citing strong demand for holiday experiences in the fourth quarter and improved booking momentum at Markets + Airline.
Cruise Collision Costs and Summer 2028 Routes
Analyst house mwb research reaffirmed its "BUY" rating and EUR 13.50 price target on 27 October. It put the net EBIT impact of the collision involving the "Mein Schiff 3" at EUR 3 million to EUR 5 million. TUI Cruises cancelled a further Norway voyage roughly a week ago because of extended repairs. Separately, touristik aktuell reported on the unveiled summer 2028 itineraries: eight ships will sail in Northern Europe and the Mediterranean, with Lerwick in the Shetland Islands added as a new port of call and Ravenna returning to the programme.
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