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Travel Stocks Are Hot For Summer 2022, Here's What You Need To Know
There are high hopes for summer 2022 as Americans and Europeans go on vacations for the first time since the pandemic. Companies are preparing for the influx of summer travel, so now is the best time to invest in travel stocks.
Companies like Airbnb, Booking Holdings, Mariott (MAR) and Trivago (TRVG) are anticipating booming summers. Last week, Marriott said they expect their revenue to hit pre-pandemic levels in the U.S. and Canada for the remainder of 2022.
Airbnb reported that its “seeing strong demand for summer bookings and beyond” and Trivago is spending on TV ads again, in time for summer travel.
According to CNN, “Travel stocks haven’t been immune to the recent market tantrum. But Wall Street has been rewarding companies in the industry for strong earnings and rosy outlooks. Marriott’s stock rose almost 5% after it reported results, while Airbnb popped nearly 8%.”
Although things are looking up, there are still obstacles for the travel industry to overcome.
Airlines and airports are still experiencing staff shortages, resulting in flight cancellations. This could affect the travel demand for this summer.
There is also inflation to consider, which could result in travelers cutting back on spending on non-essential summer vacations.
When it comes to bitcoin, trading has been at it’s lowest level since July 2021, below $33,000.
Marcus Sotiriou, an analyst at the digital asset broker GlobalBlock, told clients on Monday, “Bitcoin is now approaching the bottom of the 16-month range.”
If you’re wondering which travel stocks to buy, here are 7, according to InvestorPlace:
Expedia – (NASDAQ:EXPE)
Southwest Airlines – (NYSE:LUV)
Hertz – (NASDAQ:HTZ)
Disney – (NYSE:DIS)
Marriott – (NASDAQ:MAR)
Airbnb – (NASDAQ:ABNB)
Royal Caribbean Cruises – (NYSE:RCL)