🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Travel stocks boosted as Americans get ready to go on vacation this summer

Published 06/05/2023, 01:14 PM
© Reuters.
EXPE
-
LUV
-
DAL
-
BKNG
-
TRIP
-
HLT
-

Investing.com -- Americans are gearing up to hit the road this summer.

More than a quarter plan to increase their spending on leisure travel in the next three months, according to the U.S. Travel Association. That's up from 19% in the first quarter.

The survey is a strong indicator for travel-related stocks such as Hilton Worldwide Holdings Inc (NYSE:HLT), up 0.2% on Monday after its CEO told CNBC it could be the hotel chain's strongest summer ever, beating last year's record showing.

Tripadvisor Inc (NASDAQ:TRIP) stock was up 0.5% while Booking Holdings Inc (NASDAQ:BKNG) was up 1.4%.

Shares of Delta Air Lines Inc (NYSE:DAL) and Southwest Airlines Company (NYSE:LUV) were both up 0.8%.

The industry association said that as of early April, about half of Americans and 81% of leisure travelers had planned trips in the next six months. It said Expedia (NASDAQ:EXPE) reported searches for flights were up 25% for June through August versus the same time last year. Strong summer vacation season demand is despite inflation that has eaten into budgets for hotels, flights and other travel spending. 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.