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On November 8, the Biden administration announced the lifting of the U.S.’ international travel ban for vaccinated tourists after nearly 18 months. This should be a catalyst for the travel and tourism industry. According to AAA, travel volume is expected to rise to within 5% of 2019 levels this Thanksgiving, with some 53.40 million people taking to the air, roads, and rails.
Therefore, we think it could be wise to bet on quality hotel stocks InterContinental Hotels Group PLC (IHG), Choice Hotels International, Inc. (CHH), and Wyndham Hotels & Resorts, Inc. (WH). They are expected to perform well this quarter and beyond as travel picks up.
