Top 20 Most Valuable Travel Companies in the World
In this article, we will discuss the top 20 most valuable travel companies in the world. You can skip our detailed analysis of the global leisure travel market, and go directly to see the Top 5 Most Valuable Travel Companies in the World.
After being severely impacted by the COVID-19 pandemic, global travel and tourism continued its recovery in 2023. The United Nations World Tourism Organization (UNWTO) most recent statistics show that between January and September 2023, approximately 975 million international tourists traveled. Compared to the same period in 2022, this is a noteworthy 38% growth. Additionally, during this time, worldwide tourism recovered to 87% of pre-pandemic levels.
Meanwhile, according to a report by the Brainy Insights the global leisure travel market was valued at $1.2 trillion in 2022. The market is anticipated to expand at a compound annual growth rate (CAGR) of 21.8% from 2023 to 2032, reaching a value of $8.6 trillion at the conclusion of the predicted period. The main drivers of this expansion are the growing number of tourists travelling abroad and the rising standards of living of the general public. The rapid integration of big data analytics, the Internet of Things, and artificial intelligence in travel and tourism is another factor driving the sector. However, the report points out that the leisure travel market can be significantly impacted by geopolitical unrest.
In terms of market share by age group segment in 2022, the 22–31 years segment was in the lead with a share of almost 32%. The report also mentions that, with a 38.7% market revenue share in 2022, Asia Pacific emerged as the largest global leisure travel market. The expansion of the market is anticipated to be driven by the increasing disposable income in the region, particularly in China and India.
Building up on this, according to a global survey by Hilton and Ipsos of over 10,000 travelers from nine countries, the number one reason to travel in 2024 for most of the respondents was to rest and recharge with an emphasis on sleep. The survey also found that 64% of global travelers intend to prioritize leisure travel in 2024 by cutting back on other personal expenses.
On the other hand, travelers are focusing primarily on dining experiences while they budget for 2024, per Hilton. Exploration and adventure ranked second in importance among travelers (47%) after dining experiences, with Millennials and Gen Zers devoting a bigger percentage of their budget than other generations for these experiences.
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The survey further revealed that an astounding 80% of global travelers think it's essential to be able to plan their entire trip online, with 76% appreciating travel apps that reduce the friction and stress of travel. Additionally, it also highlighted that there has been a significant shift in the way individuals do business since the pandemic. Consequently, new trends like blended leisure have emerged, and over one-third of Gen Z and Millennial business travelers plan to extend their trips in order to take advantage of free time before or after work.
Having said that, today we will be taking at a look the top most valuable travel companies in the world which include Booking Holdings Inc. (NASDAQ:BKNG), Airbnb, Inc. (NASDAQ:ABNB), and Marriott International, Inc. (NASDAQ:MAR) among others.
Our Methodology
For the purpose of this article, we started by compiling a thorough list of all travel companies in the world which come from a variety of sectors, including airlines, hotels, cruises, resorts & casinos and online travel agencies. We then narrowed it down to only include companies with a significant market share and geographical reach. This was achieved by carrying out an extensive analysis of numerous industry papers, financial reports, journals, and news articles.
Top 20 most valuable travel companies in the world have been ranked in ascending order of their market capitalization based on data from Yahoo Finance as of February 21, 2024.
Please note that companies like The Walt Disney Company (NYSE:DIS) have not been included because of their engagement in various industries.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Top 20 Most Valuable Travel Companies in the World
20. MGM Resorts International (NYSE:MGM)
Market Capitalization: $13.83 billion
MGM Resorts International (NYSE:MGM), founded in 1986 and headquartered in Las Vegas, Nevada, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. On February 13, MGM Resorts International (NYSE:MGM) reported a Q4 non-GAAP EPS of $1.06 and a revenue of $4.38 billion, outperforming Wall Street estimates by $0.35 and $240 million, respectively.
Moreover, with a market capitalization of $13.83 billion as of February 21, it ranks among the most valuable travel companies in the world on our list.
19. United Airlines Holdings, Inc. (NASDAQ:UAL)
Market Capitalization: $14.25 billion
United Airlines Holdings, Inc. (NASDAQ:UAL), based in Chicago, Illinois, provides air transportation services to more than 210 destinations in the U.S. and more than 120 destinations internationally.
As of the end of Q4 2023, 43 hedge funds in Insider Monkey’s database owned stakes in United Airlines Holdings, Inc. (NASDAQ:UAL), compared with 34 in the previous quarter. The consolidated value of these stakes is more than $858 million.
18. InterGlobe Aviation Limited
Market Capitalization: $14.36 billion
InterGlobe Aviation Limited, among the top travel companies in the world on our list, is an India-based company that is engaged in the airline business. It has a market cap of $14.36 billion as of February 21.
17. Singapore Airlines Limited
Market Capitalization: $14.77 billion
Singapore Airlines Limited, together with subsidiaries, provides passenger and cargo air transportation services under airline brands such as Singapore Airlines and Scoot. The company has operations in Europe, the Americas, West Asia, Africa, North Asia, Southeast Asia, and Southwest Pacific.
16. Air China
Market Capitalization: $15.02 billion
Air China, the flag carrier of the People's Republic of China and one of the "Big Three" mainland Chinese airlines, was founded in 1988. It is also a member of the Star Alliance, the biggest alliance of airlines in the world. The company had a total of 902 aircrafts as of June 30, 2023.
As of February 21, it has a market cap of $15.02 billion and is one of the most valuable travel companies in the world.
15. InterContinental Hotels Group PLC (NYSE:IHG)
Market Capitalization: $17.53 billion
InterContinental Hotels Group PLC (NYSE:IHG), with operations in the Americas, Europe, Asia, the Middle East, Africa, and Greater China, owns, manages, leases, and franchises hotels and resorts. Based in the United Kingdom, the company operates hotels under various brand names such as Six Senses, Regent, InterContinental, Vignette Collection, Kimpton, Hotel Indigo, Voco, HUALUXE, Crowne Plaza, Iberostar, EVEN Hotels, Garner, Holiday Inn, Holiday Inn Express, Holiday Inn Resort, avid, Atwell suites, Staybridge Suites and Candlewood Suites.
14. Expedia Group, Inc. (NASDAQ:EXPE)
Market Capitalization: $18.53 billion
Expedia Group, Inc. (NASDAQ:EXPE), founded in 1996, is a travel technology company. The company generated $2.89 billion in revenues in the fourth quarter of 2023, which beat analysts’ estimates by $10 million.
13. Carnival Corporation & plc (NYSE:CCL)
Market Capitalization: $19.28 billion
Based in Miami, Florida, Carnival Corporation & plc (NYSE:CCL) is a multinational cruise company that operates a fleet of cruise ships and offers various vacation and travel experiences to passengers. As of February 21, it has a market cap of $19.28 billion and is one of the top travel companies in the world.
Moreover, hedge funds like the company. The number of hedge funds tracked by Insider Monkey owning stakes in Carnival Corporation & plc (NYSE:CCL) grew to 41 in Q4 2023, from 33 in the previous quarter. These stakes have a total value of more than $1.48 billion.
12. Southwest Airlines Co. (NYSE:LUV)
Market Capitalization: $20.20 billion
Founded in 1967, Southwest Airlines Co. (NYSE:LUV) is a passenger airline company offering scheduled air transportation services within the United States and in nearby international regions. The company declared a quarterly dividend of $0.18 per share on January 31, which was consistent with its previous dividend.
11. Galaxy Entertainment Group
Market Capitalization: $25.22 billion
Galaxy Entertainment Group, incorporated in 1987 and based in Hong Kong, is an investment holding company, which engages in the management of casino games and provision of hospitality and related services. It has a market cap of $25.22 billion as of February 21.
10. Delta Air Lines, Inc. (NYSE:DAL)
Market Capitalization: $26.11 billion
Delta Air Lines, Inc. (NYSE:DAL), based in Atlanta, Georgia, offers more than 4,000 flights per day between more than 275 destinations on six continents. It is one of the biggest travel companies in the world.
The company generated $14.22 billion in revenues in the fourth quarter of 2023, which beat analysts’ estimates by $420 million.
Insider Monkey’s database of Q4 2023 indicated that 53 hedge funds owned stakes in Delta Air Lines, Inc. (NYSE:DAL), which remained the same as in the previous quarter. The total value of these stakes is over $1.56 billion.
9. Trip.com Group Limited (NASDAQ:TCOM)
Market Capitalization: $27.03 billion
Trip.com Group Limited (NASDAQ:TCOM), with over 45,100 employees and over 400 million members, is a travel service provider offering accommodation reservations, transportation ticketing, package tours, and corporate travel management. It was founded in 1999 and is headquartered in Shanghai, China. The stock has returned 15.08% to investors on a year-to-date basis as of February 21.
In addition, Trip.com Group Limited (NASDAQ:TCOM) ranks among the largest travel companies in the world on our list.
8. Royal Caribbean Cruises Ltd. (NYSE:RCL)
Market Capitalization: $29.52 billion
Royal Caribbean Cruises Ltd. (NYSE:RCL), based in Miami, Florida, is a cruise operator that operates three famous cruise brands, Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. As of February 21, it boasts a market capitalization of $29.52 billion.
As per Insider Monkey’s database of Q4 2023, 54 hedge funds held stakes in Royal Caribbean Cruises Ltd. (NYSE:RCL), up from 41 in the previous quarter. These stakes have a collective value of approximately $2.4 billion.
7. Ryanair Holdings plc (NASDAQ:RYAAY)
Market Capitalization: $31.54 billion
Ryanair Holdings plc (NASDAQ:RYAAY), parent company of Ryanair, Ryanair UK, Buzz, Lauda and Malta Air, is an Irish company that provides airline services. It connects over 240 destinations in over 40 countries. With a market capitalization of $31.54 billion as of February 21, it is among the top 10 most valuable travel companies in the world on our list.
In its fourth quarter 2023 investor letter, Oakmark International Fund stated the following regarding Ryanair Holdings plc (NASDAQ:RYAAY):
“Ryanair Holdings plc (NASDAQ:RYAAY) (Ireland), a European ultra-low-cost airline, was the top contributor to the Fund’s performance this quarter. Ryanair released strong results for the first half of fiscal-year 2024 and was accompanied by an even stronger outlook, in our view. The company’s revenue grew 30% year over year, and average fares increased by 24% to EUR 58, driven by record demand and constrained capacity at European peers. Total passengers flown expanded 11% year over year to 105.4 million, and management is on track to maintain its target of 183.5 million passengers for 2024, depending on Boeing’s ability to meet its delivery commitments. Management is expecting full-year 2024 net income to be between EUR 1.85-2.05 billion ahead of the EUR 1.82 billion consensus estimate. The company’s strong free cash flow levels and balance sheet allowed Ryanair to reinstate a EUR 400 million dividend (35 cents per share). We spoke with CEO Michael O’Leary about additional uses for its excess capital and were happy to hear about an incremental EUR 1.5 billion return to shareholders starting in 2025. We continue to be optimistic about Ryanair’s future.”
6. Las Vegas Sands Corp. (NYSE:LVS)
Market Capitalization: $39.98 billion
Founded in 1988, Las Vegas Sands Corp. (NYSE:LVS) owns, develops, and operates various integrated resort properties primarily in the United States, Macau, and Singapore.
Hedge funds like the company. Insider Monkey’s database of Q4 2023 indicated that 48 hedge funds owned stakes in Las Vegas Sands Corp. (NYSE:LVS), compared with 45 in the preceding quarter. The consolidated value of these stakes is nearly $2.5 billion.
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Disclosure: None. Top 20 Most Valuable Travel Companies in the World is published on Insider Monkey.