Hotel investments

Alltours increases profits and predicts good growth this year

German tourism group Alltours expects good growth this year, with strong bookings for Greece and Spain along with a comeback for Turkey, and plans to re-invest last year’s higher profits in further hotel expansion.

January 24, 2018
Alltours owner Willi Verhuven (left) and managing director Markus Daldrup (right)
Photo: Alltours

The Düsseldorf-based group increased pre-tax profits by 12.7% to about €63 million in the year ending October 2017. The tour operator businesses increased turnover by 4.5% to nearly €1.4 billion while customer numbers rose by 2.5% to 1.66 million from the four source markets Germany, Austria, Switzerland and the Netherlands. All of the group’s businesses improved their profits and the Allsun Hotels chain was once again “highly profitable”.

Owner Willi Verhuven said: “Like in past years, the profits will remain completely inside the company, will flow into the reserves and will be mostly used for investments.” The group plans to continue investing mostly in its hotel chain Allsun, which now operates 34 hotels, and ‘digital transformation’ of the group’s business activities.

For the current year, Alltours aims to increase tour operator revenues by 5% and customer numbers by 3%. “The current winter season is exceeding all expectations and bookings for the coming season are also well ahead of planning,” the company stated.

In terms of destinations, demand is good for Spain, where the group expects more than one million holidaymakers for the first time. The company has chartered 20,000 extra seats on flights from Germany to Majorca with various carriers in February and March to make up for the gap left by Niki’s insolvency and grounding.

Alltours again expects the strongest growth this year for Greece, which already generated 30% increases in turnover and customer numbers last summer and became the company’s second-largest destination.

However, Turkey is making a clear comeback as well with a double-digit increase in bookings for summer 2018. “We believe that Turkey, with its high-quality hotels and inexpensive prices, will recover again as a popular holiday destination,” said managing director Markus Daldrup. Demand is also higher for Egypt and Tunisia, he added.

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