The group is repositioning the resort in the Tanzanian province with a view to operating it as The Mora Zanzibar from spring 2024 onwards.
The new brand name ‘Mora’ is derived from the Latin word for ‘pause’ and will offer laid-back, contemporary luxury with highly tailored and flexible service.
It is positioned to target a growing customer segment with high income that invests in experiences rather than goods.
In the 2023 financial year TUI Group added 41 new hotels to its pipeline, driven by a combination of investment partnerships, management and franchise agreements.
The group detailed it intends to focus on a portfolio of 12 hotel brands powered by a global distribution platform to support its expansion targets. TUI’s network includes global hotel brands such as Riu, Robinson, TUI Blue and TUI Magic Life as well as regional brands such as Atlantica, Grupotel, Iberotel and Akra.
Its global hotel fund plays a key role in the development of new hotel projects. This offers institutional investors an investment in hotel properties that are operated with the expertise of TUI and its brands.
TUI Group sees further potential in the leisure hotel industry and plans to expand its portfolio from 424 to 600 hotels in the midterm.
The TUI Hotels & Resorts line is one of the growth drivers of the Hanover-based international tourism group. Since mid-2022, the segment has consistently generated positive results above pre-pandemic levels.
Peter Krueger, TUI AG executive board member responsible for group strategy, mergers and acquisitions and holiday experiences, which includes the hotel business, commented: “TUI Hotels & Resorts is highly profitable and has developed into a global business in recent years. Our asset-right strategy is starting to scale.
“We are also continuing to focus on hotel ownership through partnerships. At the same time, our strong portfolio – with hotel brands for price-conscious customers through to luxury guests – is driving growth through management and franchise agreements.”