Europe’s Travel Stocks Hit Bumps as Summer Plans Lose Fizz
- Seasonal tourism optimism is waning as delta variant spreads
- Staycation, DIY stocks rally as airlines, hotel shares slide
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After rallying to a record on bets of a summer filled with long hoped-for holidays, Europe’s travel stocks are hitting a rocky patch.
The emergence of a more contagious coronavirus strain and constantly changing restrictions on international travel are weighing on airlines and hotels, even as vaccinations gain pace. The Stoxx 600 Travel and Leisure Index is down 7% since its April peak, making it one of the worst-performing sectors of the past three months.