A major tourism business has today predicted tougher times ahead following a slowdown in bookings.

The Tui Group, which owns Gloucestershire-based Gullivers Sports Travel, as well as Thomson and First Choice, said bookings were flat year on year.

A rise in prices following a fall in the value of sterling had seen its revenues go up by eight per cent.

However, its second-quarter underlying losses went up from £107million to £131million.

Tui reported "subdued demand" for trips to Turkey and North Africa, which have been subject to terrorism and political upheaval, but it was offset by a rise in demand for trips to Spain, the Canary Islands, Cyprus, Greece and the Caribbean.

Tui chief executive Fritz Joussen told Sky News: "There's no doubt that in the UK times will be a little more tough in the future than they have been in the past."

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