Finding the best hotel stocks to buy can be a strategic move with the travel and tourism sector experiencing a significant rebound in 2024. Strong U.S.
consumer spending trends in the first half of the year continue to fill the pent-up demand for both business and leisure travel. UN Tourism, an entity of the United Nations, forecasts international travel to reach pre-pandemic levels this year . A persistent recovery in Asia and the Middle East contributed to tourism reaching 97% of pre-pandemic levels in the first quarter of 202 4.
Moreover, American Express (NYSE: AXP ) recently boosted its full-year profit outlook on robust spending from its premium cardholders. Even with consumer confidence falling to an eight-month low of 66 this month, the travel and leisure sector will likely remain relatively stable. Consumers are biting the bullet and not shying away from their travel plans.
This unfortunate reality will have dire consequences in the future but remains a positive backdrop for the hotel industry. Now, let’s unpack the three best hotel stocks to buy in July 2024. Marriott International (MAR) Marriott International (NASDAQ : MAR ) is the largest hotel company in the world by number of available rooms.
It operates a diverse portfolio of brands, such as Marriott, Sheraton, and Ritz-Carlton, including nearly 8,700 properties across 139 countries. Marriott experienced an incredible post-pandemic recovery driven by strong operation performance and an expansion of its availa.