Uber takes on water in Europe to meet strong tourist demand

Uber Technologies (New York Stock Exchange: Uber) announced that it would bring its yacht service to Ibiza and introduce different maritime transport offers in other European cities.

Uber Yacht service will be available for pre-booking on the Spanish island of Ibiza from July 1 26 for rides starting in August. Uber Boat in Greece will expand from Mykonos, where it launched last year, to Athens, Corfu and Santorini and will allow visitors to visit beach clubs and reach remote locations. Additionally, Uber (Uber) will also launch a limousine boat service in Venice, Italy, to allow customers to travel around the Venetian Lagoon.

Earlier this year, Uber (UBER) launched Seine River cruises to meet demand around the Paris Summer Olympics. The ride-hailing company said it has seen strong tourism demand in Europe in general, particularly in countries like Greece and Spain.

Uber (UBER) shares fell 0.62% Shares of Uber (UBER) were up more than 15% in premarket trading Tuesday, but are still up more than 15% year to date. Wall Street analysts are very bullish on Uber (UBER), with 43 out of 47 ratings at the buy level.