The company was formed on 3 September 2007 by the merger of First Choice Holidays PLC and the Tourism Division of TUI AG, which owned 56.4% of it.

[5][6] The company was founded in 1923 in Berlin, Germany as Preußische Bergwerks und Hütten-Aktiengesellschaft operating in the industrial sector.

[7] In March 2007, the merger of the travel division of TUI AG with First Choice was announced.

[10] The European Commission approved the merger on 4 June 2007, on the condition that the merged company sell Budget Travel in Ireland.

[16] The merger was completed and TUI Travel was de-listed from the London Stock Exchange on 17 December 2014.