Organisations & Operators,

Tui Group has confirmed plans to issue new share capital valued at €1.1 billion as the battle to recover from the Covid-19 pandemic continues.
Some 523 million new shares will be used, a total of ten new shares for every 21 existing shares.
“Following transformation and restructuring of business areas and the relaunch of tourism in recent months, our focus is now on refinancing and reducing the utilisation of government loans.
“We want to, we can and we will find our way back to economic strength.
“We are working on this relentlessly. ADVERTISEMENT“The new TUI will be leaner, more digital and more efficient.
“But it will continue to set standards in tourism, in quality, innovation and sustainability,” said Tui chief executive, Fritz Joussen.
Unifirm of the Mordashov family supports the strategy and, as the largest shareholder of Tui, has undertaken to exercise all subscription rights attributable to its shareholding of 32 per cent and to subscribe to the new shares accordingly.
The remainder of the capital increase is fully underwritten with Barclays Bank Ireland, BofA Securities, Citigroup, Deutsche Bank and HSBC acting as joint global coordinators and joint bookrunners.
Commerzbank, Landesbank Baden-Württemberg and Natixis will act as joint bookrunners.
TUI intends to use the net proceeds of the capital increase to reduce interest costs and net debt by reducing current drawings under the KFW facilities.

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The International Air Transport Association (IATA) has reported that air travellers are increasingly frustrated with the Covid-19 travel restrictions.
A survey commissioned by the trade body of 4,700 respondents in 11 markets in September demonstrated confidence that the risks of Covid-19 can be effectively managed and that the freedom to travel should be restored.
Some 67 per cent of respondents felt that most country borders should be opened now, up 12 percentage-points from the June survey.
In total, 64 per cent of respondents felt that border closures are unnecessary and have not been effective in containing the virus (up 11 percentage points from June).
Finally, 73 per cent responded that their quality of life is suffering as a result of Covid-19 travel restrictions (up six percentage points from June).ADVERTISEMENT“People are increasingly frustrated with the Covid-19 travel restrictions and even more have seen their quality of life suffer as a result.
“They don’t see the necessity of travel restrictions to control the virus.
“And they have missed too many family moments, personal development opportunities and business priorities.
“In short, they miss the freedom of flying and want it restored.
“The message they are sending to governments is: Covid-19 is not going to disappear, so we must establish a way to manage its risks while living and traveling normally,” said Willie Walsh, IATA director general.
The biggest deterrent to air travel continues to be quarantine measures.
Some 84 per cent of respondents indicated that they will not travel if there is a chance of quarantine at their destination.
With the vaccination rates globally increasing, 80 per cent of respondents agree that vaccinated people should be able to travel freely by air.
However, there were strong views against making vaccination a condition for air travel.
About two-thirds felt it is morally wrong to restrict travel only to those who have been vaccinated.
Over 80 per cent of respondents believe that testing before air travel should be an alternative for people without access to vaccination.
“There is a message here for governments.
“People are willing to be tested to travel. But they don’t like the cost or the inconvenience.
“Both can be addressed by governments.
“The reliability of rapid antigen tests is recognized by the World Health Organisation (WHO).
“It is also clear that while people accept testing and other measures such as mask-wearing as necessary, they want to return to more normal ways of travel when it is safe to do so,” added Walsh.

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The Red Sea Development Company (TRSDC) has signed two memorandum of understandings with Blue Planet Ecosystems (BPE).
Signed by John Pagano, chief executive of TRSDC and Paul Schmitzberger, chief executive of BPE, the deal sees the entities pledging to investigate the implementation of a viable solution for sustainable high tech, CO2 negative fish production.
The Blue Planet Ecosystems’ solution proposed will provide sustainable production of seafood and algae in a desert environment.ADVERTISEMENT“In response to growing consumer demand for sustainable protein and to further contribute to the long-term protection and enhancement of ocean biodiversity, TRSDC strives to explore innovative technology solutions.
“Our partnership with Blue Planet Ecosystems, means working together to set a new global standard in sustainable, multitrophic desert aquaculture where we can literally turn sunlight into seafood,” said Pagano.
The Land-based Automated Recirculating Aquaculture (LARA) system works by replicating natural aquatic ecosystems in a modular and automated system.
LARA coverts CO2 directly into chemical-free seafood using phyto and zooplankton as transitional stages.
It is constructed of a tower of three horizontal units.
The top unit uses the sun’s energy to grow microalgae which powers the entire system.
The microalgae is then moved to the next unit down, where it nourishes zooplankton.
Finally, the zooplankton is then transported to the bottom unit, where it is eaten by fish.

“The LARA system has a minimal environmental footprint and will not only help feed our guests and residents sustainably but will aid in carbon sequestration for our flagship destination as well as future projects on the Red Sea coast, in alignment with the company’s aspiration to achieve 100 percent carbon neutrality,” added Pagano.
Algae can consume more carbon dioxide than trees because it can cover more surface area and grow faster.
Certain species of microalgae have been shown to efficiently remove CO₂ at a rate of more than ten times higher than terrestrial plants.
The first phase of the project will be implemented as a 3,500 m2 pilot, to assess whether conditions at the Red Sea Project are suitable for the solution to work effectively and efficiently.
This will be the first LARA pilot outside Europe to undergo a commercial trial.
Schmitzberger said: “It is fascinating to see what can be achieved when innovation meets a clear vision for a sustainable future.
“The Red Sea Project is demonstrating how the destination of the future will look and operate.”

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Leading trade associations representing the hospitality and tourism sectors in the UK have joined forces to call on the chancellor, Rishi Sunak, to introduce a permanent lower rate of VAT for these fragile markets.
The bodies argue such a move would help to safeguard their future, protect jobs and to accelerate the economic recovery.
Under treasury plans, hospitality and tourism VAT rises to 12.5 per cent from today and will return to its pre-pandemic level of 20 per cent come April next year.
Now the trade bodies – UKHospitality, the British Beer & Pub Association, the British Institute of Innkeeping, Tourism Alliance and the Association of Leading Visitor Attractions – are warning that unless VAT remains permanently low at 12.5 per cent, the government risks derailing the recovery at a time when businesses are still in survival mode.
Across the course of the pandemic, hospitality and tourism were the hardest hit sectors, with spend down £100 billion, 12,000 businesses permanently closed, and 660,000 jobs lost. ADVERTISEMENTHowever, the reduction in VAT helped protect hundreds of thousands of jobs and allowed many businesses to stay open and serving customers when permitted to trade.
In a joint statement, the trade bodies said: “Businesses are at a perilous stage of their recovery after what’s been a devastating 18 months.
“Costs are increasing and there are numerous operational challenges for them to deal with, specifically around labour and product supply.
“A reduction in VAT has helped many of our businesses survive to this point and was most welcome.
“However, the return of VAT to its pre-pandemic level next year would curtail investment, restrict growth, set back our tourism recovery and risk yet more painful job losses.
“We’re now calling on the chancellor to commit to introducing a permanent 12.5 per cent rate of VAT in his upcoming Budget, later this month.
“This will help protect jobs and continue the support for our hospitality and tourism businesses which contribute hugely to the nation’s economic and social wellbeing.”
Image: Louis Hansel

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Stanley Tollman, founder and chairman of the Travel Corporation (TTC), has died at the age of 91 following a battle with cancer.
Tollman created and presided over the successful international travel group which encompasses more than 40 brands – including Trafalgar, Uniworld Boutique River Cruises, Insight Vacations, Contiki Holidays and Red Carnation Hotels.
He also led pioneering, sustainable travel endeavours through the not-for-profit TreadRight Foundation. 
Tollman carefully oversaw TTC, maintaining an uncompromising commitment to offering the highest standards.
Internationally, each brand is strategically positioned and is clearly differentiated in its market sector. ADVERTISEMENTFrom an employee development perspective, across all brands and businesses is the ethos first and continuously lived out by Tollman: genuine care for the people of TTC, their clients, partners and staff. 
Chief executive of luxury travel company Abercrombie & Kent, Geoffrey Kent, was among the first to pay tribute.
He said: “One of the most amazing figures in travel and tourism has left us – his name is Stanley Tollman.
“I have known him and his lovely wife Bea since I met them for the first time in 1972 in the Tollman Towers, a brand-new hotel they had just built in Johannesburg in 1970.
“Our travel paths have been closely linked over the years.
“Stan and his lovely family were always on the cutting edge in the travel industry and continually creating new products run with consummate style.
“They made so many people so very happy.”

The Tollman family’s success with TTC was always driven by the entrepreneurial and industrial spirit of the patriarch.
Tollman has been unwavering in his insistence that family bonds must never compromised.
From the beginning his partnership with his wife Beatrice, known universally as Bea, to whom he has been married for 67 years, provided Tollman with the love, support, confidence and complementary expertise needed to courageously venture out into the global tourism world.
Three of the Tollman’s four children – Toni, Brett and Vicki – are today central to TTC’s operations, as are Gavin, the son of his late brother Arnold, and Michael, a nephew. 
Beyond them, grandchildren are now forming part of the fourth generation of Tollmans within the expanding operation.
Niall Gibbons, chief executive of Tourism Ireland, said: “We in Ireland are eternally grateful for the lasting impact and legacy of Stanley Tollman.
“His vision, positivity and values left a positive influence on us all.
“The investment of Red Carnation Hotels into Ashford Castle has meant Ireland continues to punch above its weight on the world stage.
“The consequential impact on rural Ireland cannot be overstated.
“Our thoughts are with his wife Bea and entire family at this time.”

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On the Beach will extend its free Covid-19 test offer to holidaymakers to cover the 2022 holiday season.
The offer, launched earlier this month, will now be applicable on trips up until the end of October next year.
For new bookings made before October 31st, On the Beach will cover the cost of tests required for fully-vaccinated holidaymakers to travel to Spain, Greece and Cyprus.
Following changes to testing requirements by the Welsh government, the offer now also extends to those residing in Wales, in addition to those living in England, Scotland and Northern Ireland.
Currently, for fully-vaccinated travellers, regulations in England, Northern Ireland, Scotland and Wales require an antigen pre-departure test and a PCR test on or before day two of returning to the UK. ADVERTISEMENTWhile changes were announced to testing requirements by the government last week for those residing in England, which will come into place in October, it seems that testing in order to travel will remain a requirement for the foreseeable future, bringing additional costs for holidaymakers.
As of October 4th, the need for a pre-departure test will end for those living in England, though a day two PCR test will still be required. 
Changes to testing requirements have not been announced for Northern Ireland, Scotland or Wales.
Simon Cooper, chief executive of On the Beach, said: “We are delighted to be extending this offer into 2022, and also to be able to provide it for our holidaymakers in Wales.
“Customers have always been squarely at the heart of our business and extending this offer continues to put them first, easing the financial and administrative burden of testing and making the decision to go – and process of going – on holiday that bit easier.”
The move comes as On the Beach tries to rebuild its position in the market.
In May, the travel company made the decision to stop selling holidays during the peak summer season, as uncertainty and confusion around international leisure travel grew.

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In preparation for COP26, two information sessions were held today on the Glasgow Declaration on Climate Action in Tourism.
The declaration, developed by a collaborative group of leading organisations, is an urgent call for all stakeholders to commit to a decade of climate action in tourism.
The signatories of the declaration are committing to act now and accelerate climate action to cut global tourism emissions by at least a half over the next decade and reach net zero emissions as soon as possible before 2050.
In particular, each signatory will commit to deliver a concrete climate action plan, or updated plan, within 12 months of signing.
Plans will be aligned with the proposed pathways of measurement, decarbonisation, regeneration, collaboration and financing that will accelerate the ability of tourism to transform.ADVERTISEMENTZurab Pololikashvili, secretary general of the UNWTO, said: “We all recognise that tourism has an important role to play.
“It’s highly vulnerable to climate change and contributes to the emission of greenhouse gases, while being well placed to contribute to adaptation.
“But no one organisation can tackle this alone.
“That’s why we need to work urgently together within a consistent sector-wide approach to accelerate change and therefore I encourage tourism stakeholders to subscribe the Glasgow Declaration on Climate Action in Tourism.”
During the events, the World Tourism Organisation (UNWTO) the UN Environment Programme (UNEP), VisitScotland, the Travel Foundation and Tourism Declares a Climate Emergency were joined by United Nations Framework Convention on Climate Change (UNFCCC), Caribbean Hotel and Tourism Association, European Tourism Association, Inkaterra, Intrepid Group, Machu Picchu, Oregon Coast, Radisson Hotel Group, South Pacific Tourism Organisation, the Long Run and the Travel Corporation (TTC).
All were united in emphasising the importance of defining a clear and consistent sector-wide message and approach to climate action in the coming decade, as well as encouraging organizations across all areas of tourism to demonstrate their public support for scaling up the response to the climate emergency by becoming signatories.
The declaration will be officially launched at the UN Climate Change Conference (COP26) in November.

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The Competition & Markets Authority (CMA) has warned Truly Holdings, the company that operates Teletext Holidays, it could face legal action over its failure to repay customers in the wake of the Covid-19 pandemic.
In May, the government body secured undertakings from the company committing it to address failures to refund package holiday customers for cancelled holidays.
A similar document was signed by sister company, the travel operator Alpharooms.com.
These undertakings required Truly Holdings to use all reasonable endeavours to pay outstanding refunds to passengers at the latest by the end of August, and going forward to ensure that refunds due for package holidays cancelled after the date of the undertakings are paid promptly and no later than 14-days after cancellation.
After a review, the CMA said it was concerned that some customers whose package holidays were cancelled since it signed up to the undertakings have not been repaid within the 14-days required by the law. ADVERTISEMENTAlthough Truly Holdings has paid back a significant number of customers within this two-week period, too many have been left waiting longer for the refunds due to them.
The CMA is also concerned that Truly Holdings has not done enough to repay customers who were already owed refunds at the time the undertakings were given.
As a result of the action, Truly Holdings has paid £7.2 million of the £7.8 million owed to package holiday customers, but almost £600,000 in refunds remains outstanding.
Truly Holdings has reported that the outstanding amount is owed to customers whose current bank details it does not have and whom it has been unable to refund through their original payment method because the purchases were made more than a year ago.
The CMA said it does not consider that enough has been done to ensure that Truly Holdings is able to provide refunds to package holiday customers with outstanding claims.
In addition, the CMA does not consider that Truly Holdings has done enough to make sure that it pays all refunds that may in future become due within 14 days, as required by law.
The CMA has therefore written to notify Truly Holdings that it will take court action unless the firm takes immediate steps to rectify the situation and to ensure that, in the future, customers who are entitled to a refund are repaid in the timeframe specified by law.
Andrea Coscelli, chief executive of the CMA, said: “It is unacceptable that some package holiday customers are still not receiving refunds within the timeframe that they are legally entitled to.
“While we are pleased that many consumers have now received the refunds they were due because of our intervention, we are clear that Truly Holdings must comply with the law.
“Unless it urgently takes steps to address the failures we have identified, we will take court action.”
Rory Boland, Which? Travel editor, called for the CMA to do more.
He explained: “We have received countless complaints from Teletext Holidays customers who have been battling for refunds for cancelled holidays.
“It’s hugely concerning that Teletext has not yet paid all outstanding refunds to its customers and it’s still failing to comply with the 14-day period required by law.
“We welcome the action taken by the regulator to enforce consumers’ rights.
“Teletext is one of many holiday providers that has attempted to shirk its legal responsibilities to refund customers for cancelled trips, highlighting the need for industry-wide reform.
“The government must ensure there are better protections for holidaymakers’ money, while the Competition & Markets Authority must be given stronger powers to take action against companies which break consumer law – including the ability to impose fines if necessary.”

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