By Marcus Leach

TUI Travel[/b[, who own [b]Thomson and First Choice, have confirmed that there will be a 5% increase on the cost of their holidays next year.

The increase, that will affect package holidays, has been forced due to the rising cost of fuel and accommodation.

Further to this TUI said that bookings for next summer are already down 11%, adding that bookings for the later part of the summer season were down 7% since the end of July as consumer sentiment worsened in the UK.

Join us on
Follow @freshbusiness