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Travel stocks boosted as Americans get ready to go on vacation this summer

Investing.com -- Americans are gearing up to hit the road this summer.

More than a quarter plan to increase their spending on leisure travel in the next three months, according to the U.S. Travel Association. That's up from 19% in the first quarter.

The survey is a strong indicator for travel-related stocks such as Hilton Worldwide Holdings Inc (NYSE:HLT), up 0.2% on Monday after its CEO told CNBC it could be the hotel chain's strongest summer ever, beating last year's record showing.

Tripadvisor Inc (NASDAQ:TRIP) stock was up 0.5% while Booking Holdings Inc (NASDAQ:BKNG) was up 1.4%.

Shares of Delta Air Lines Inc (NYSE:DAL) and Southwest Airlines Company (NYSE:LUV) were both up 0.8%.

The industry association said that as of early April, about half of Americans and 81% of leisure travelers had planned trips in the next six months. It said Expedia (NASDAQ:EXPE) reported searches for flights were up 25% for June through August versus the same time last year. Strong summer vacation season demand is despite inflation that has eaten into budgets for hotels, flights and other travel spending. 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.