NEW YORK, July 24 (Reuters) – The post-pandemic rebound of international travel, particularly to Europe, is expected to be a bright spot for hotels and cruise operators this quarter on Wall Street, even as consumers grow more price-conscious amid higher costs.
Despite high inflation, travel companies have been raking it in as consumers have carved out part of their budget to keep spending on leisure. Investors will get a look at the industry’s performance when Hilton Worldwide Holdings (HLT.N) and Royal Caribbean Cruises (RCL.N) release quarterly results on Wednesday and Thursday, respectively.
The hotels, resorts and cruise line sub-industry is expected to show a 407% jump in second-quarter earnings from a year ago, according to Refinitiv.
People are treating travel like an essential expenditure, said Barclays analyst Brandt Montour:
Wall St sees bargains, lure of Europe buoying cruise, hotel earnings
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