WORLDWIDE: TUI has extended 2.7 billion euros of credit lines until summer 2026, with terms tied to sustainability targets.
TUI has extended the maturity of its existing credit lines of 2.7 billion euros by a further two years, and for the first time it will be linked to the achievement of the Group’s emission reduction targets confirmed by the Science Based Targets Initiative (SBTi).
The SBTi defines and promotes best practice in emissions reductions and net-zero targets in line with climate science.
TUI CFO Mathias Kiep said: “The successful extension of our credit lines is essentially the result of the TUI Group’s operational and balance sheet recovery and a vote of confidence in our business model and future strategy. This lays the basis for profitable growth and we remain the industry’s pioneer in climate protection. TUI is on its way to former strength.”
TUI’s emission reduction goals include emissions to be significantly reduced in the hotel segment by at least -46.2 per cent by 2030. Goals also include TUI Airlines (-24 per cent), and cruises (-27.5 per cent).
Earlier this month TUI Hotels & Resorts published Green Building Guidelines for the first time, to provide its own hotels and hotel partners with concrete recommendations for their construction and refurbishment projects.
The guidelines contain the most important aspects for reducing environmental impact and achieving savings in water and energy consumption. They also cover topics such as monitoring systems, sustainability certification and stakeholder communication. The guidelines were reviewed by external experts.
Jessica Kuthe, director portfolio management, TUI Hotels & Resorts said: “We are pleased to see our Guidelines promoting sustainable construction decisions around the world. They bring together proven measures and the expertise of our sustainability and construction experts for all our hotel brands. Our hotel partners, architects, engineers and contractors can benefit from this knowledge and commit to using the Guidelines as they develop hotels for a more sustainable future.”
TUI hotels has already started implementing measures from the Green Building Guidelines, particularly in the area of energy savings.
The long-standing joint venture partners RIU, Atlantica and Grupotel have increased the number of their photovoltaic systems, e.g. in Spain, Cape Verde and Greece. In Italy, the Robinson hotel brand operates one of the largest photovoltaic plants of any hotel in Europe.
In February Sustainable Hotel News reported on TUI’s sustainability agenda and the Force for Good programme.