- TUI AG wants to invest heavily to expand its hotel-bed capacity by 2008, chief executive Michael Frenzel said in a pre-release of an interview with weekly WirtschaftsWoche's Monday edition.
'We are investing significantly in new hotel-bed capacity, which has contributed significantly to earnings in the past years,' he said.
'By the end of 2008, we will increase capacity by around 25,000 new beds, which should then contribute an additional 30-40 mln eur to earnings,' he added.
The report said Frenzel believes expanding the group's own capacity is more lucrative than renting capacity, which is the option selected by rival Thomas Cook AG.
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