In a new report, Wolfe Research analysts said that travel demand is likely to slow down as the economy slows in 2023, even as airline executives remain confident despite rising costs.
Wolfe Research analysts now expect online travel retailers to underperform the S&P 500 by at least 10 per cent over the next year, reports Market Watch.
Stocks for travel-planning websites such as Booking Holdings Inc., Expedia Group Inc. and Tripadvisor Inc. have already been downgraded, with less efficient customer acquisition channels being blamed for the move.
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