TUI Group profit growth on track, to sell LateRooms

05:16 - 13 May 2015

LONDON/BERLIN, May 13 (Reuters) - TUI Group, the world's largest leisure tourism group, said it was on track to grow underlying profits by between 10 and 15 percent this year as it announced plans to sell British hotel booking website LateRooms.

The group, formed in December from the merger of London-listed TUI Travel and German majority owner TUI AG , said its second-quarter underlying loss before interest, tax and amortisation narrowed to 167.8 million euros ($188.7 million), against a loss of 201.6 million one year ago.

Ahead of a capital markets day in London later on Wednesday, TUI said it would put LateRooms on the block, but did not give further details.

That followed an announcement on Tuesday that it would simplify its structure by combining its tour operating, hotel and cruise ship businesses into one unit, moves which signalled that plans for the enlarged company were on track, TUI said.

"Our post-merger integration process is ahead of our original plan. Our growth phase is gaining momentum," joint chief executives Fritz Joussen and Peter Long said in a statement. (Reporting by Sarah Young and Victoria Bryan; Editing by Caroline Copley)