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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.
