Wall Street expects a tourism boom as COVID-19 travel restrictions ease, so what is the best travel stock right now?
The travel sector offers good value after the market downgraded most sector stocks during the pandemic. According to hedge fund holdings, Airbnb (ABNB) remains one of the top stocks for value investors.
The post-pandemic financial landscape is estimated to experience a fundamental shift as discretionary spending increases to $2 trillion in market height. With over 60% of this spending lavished on experiences rather than products, Wall Street predicts the best stock in this sector will be forward-thinking by offering flexible, independent, and experiential travel.
Airbnb Inc. (NASDAQ: ABNB)
This Is the Best Travel Stock on Wall Street
Although the American Hotel and Lodging Association reported that the hospitality industry plummeted by almost 4 million jobs last year, the tourism sector rebounded with 280,000 new jobs by March 2021. This cut the industry’s unemployment rate to just 13%.
Today, Airbnb is the one travel industry giant that you can count on into lead the charge towards a complex but recovering travel economy.
Airbnb is currently Wall Street investors’ top travel stock pick to buy and hold onto for 2021.
As part of a group of hedge fund assets that outperformed the S&P 500 ETFs by over 124 percentage points since March 2017, Airbnb has demonstrated itself as an industry giant.
You are probably familiar with San Francisco-based company Airbnb, a platform that allows renters to book lodging from homeowners through both a website and a mobile app.
With a huge accommodation selection available nationally and globally, Airbnb offers flexibility and the opportunity to experience neighborhoods that might not have hotel accessibility.
Here are some important highlights on why we are bullish on ABNB:
- With over 4 million hosts connected to more than 800 million guests, it’s no wonder that Airbnb remains a leader in the hospitality industry
- Despite 2020’s tourism crashes which saw booking decline by 41%, Airbnb has enjoyed a bullish reputation on Wall Street in 2021.
- Airbnb not only recouped its pandemic losses, but it experienced a 6% growth increase over its 2019 numbers.
Comprehensive, adaptable, and intuitive, Airbnb continues to upgrade and improve its operations to offer even more flexibility, options, and user-friendly simplicity for both guests and hosts.
If the travel sector surges and Wall Street’s recommendation get you excited about this top pick, you can pick up this stock for $142.00 on the market today.
Airbnb remains your best travel sector stock on Wall Street due to its history of explosive growth. Despite last year’s blows to the tourism industry, Airbnb has documented its ability to recover quickly and expand its growth to unprecedented levels.
Image by Karsten Winegeart