- European travel stocks are beating their US counterparts in 2026, yet both trail broader markets
- US travel stocks remain long-term leaders despite recent weakness
- Trivago tops global travel stocks in 2026 while Royal Caribbean leads in 5-year gains
- Hotels are the standout winners on both sides of the Atlantic
- US airlines outperform European peers
European travel and leisure stocks are outperforming their US counterparts in 2026, according to new analysis from trading and investing platform, eToro.
eToro analyzed a basket of 30 publicly traded “BEACH” stocks (companies operating across bookings, entertainment, airlines, cruises, and hotels) and found European firms have weathered a challenging year for the travel sector better than their US peers. The average European BEACH stock is down just 1% year-to-date, compared with a 3% decline among US BEACH stocks.
Despite weaker sector performance, several travel companies have delivered strong gains. Trivago is the best-performing stock across both regions, rising 62% year-to-date, while Spain’s Melia Hotels has climbed 41%.
Bret Kenwell, eToro US Investment Analyst, commented on the findings: “The first half of 2026 has been a challenging one for travelers, with consumer sentiment under pressure as inflation and energy prices accelerated. Even so, demand for experiences remains resilient across Europe and the US. The split, however, is becoming more pronounced among travel-related stocks as some grapple with more difficult macroeconomic backdrops than others.”
Hotels lead the sector
Hotels have emerged as the strongest-performing segment on both sides of the Atlantic. In the US, Marriott (+24%), Hyatt (+19%) and Hilton (+17%) rank among the top-performing BEACH stocks this year. In Europe, Melia Hotels (+41%) and InterContinental Hotels Group (+15%) have led gains.
US airlines outperform Europe
Airlines have produced one of the clearest regional divides. Delta Air Lines is up 11% in 2026, while Southwest Airlines is flat. By contrast, every major European airline in the basket is negative, with Wizz Air down 24%, Ryanair -20%, EasyJet -7%, and Lufthansa -5%.
Long-term leadership remains with US travel stocks
While Europe has performed better in 2026, the picture reverses over longer periods as American travel giants dominate long-term returns. US BEACH stocks have returned an average of 15% over the past year and 57% over five years, significantly outperforming European peers, whose average returns were negative over one year and close to flat over five years. Royal Caribbean has delivered the strongest five-year return of any stock analyzed, surging 195%, followed by Marriott (+168%), Hilton (+166%), Hyatt (+136%) and IHG (+125%).
Bret Kenwell added: “Both the US and Europe have benefited from strength in hotel groups, while US cruise operators and airlines have helped the US basket pull ahead over longer time frames. One caveat is the five-year window, which began during a highly unusual period for travel and markets as companies were near the one-year mark following the COVID-era disruption. Reopening timelines varied by country and region, creating uneven starting points for travel demand, and for the stocks tied to it.”
Travel stocks lag broader markets
While European BEACH stocks outperformed their US counterparts this year, both travel baskets lag behind their regional benchmarks. The S&P 500 has returned 72% over five years, ahead of the US BEACH basket’s 57%, while the Stoxx 600 has gained 36% compared with just 1% for European BEACH stocks.
Bret Kenwell said: “Timing the performance of any industry is tough, but it’s notoriously difficult with travel-related stocks. They are highly cyclical and must constantly adapt to shifting consumer behavior, fuel costs, and broader macro conditions, even when the economy is holding up.
This year’s spike in energy prices is a good example: Demand may still be healthy, but companies are facing real margin pressure and operational hurdles. And one more challenge for the group? They’re not tied to technology or AI, which makes winning investor attention even harder in this market.”
Table 1: Performance of US and European ‘BEACH’ stocks (companies in bookings, entertainment, airlines, cruises, and hotels)
| US BEACH Stocks | YTD | 1-Year | 5-Year | EU BEACH STOCKS | YTD | 1-Year | 5-Year |
| Expedia | -22% | 27% | 29% | Edreams | 9% | -48% | -32% |
| Booking | -25% | -27% | 73% | Trivago | 62% | 10% | -75% |
| Airbnb | -5% | -6% | -11% | Tui | -27% | -11% | -73% |
| Walt Disney | -13% | -16% | -44% | On The Beach | -33% | -46% | -60% |
| Live Nation | 18% | 17% | 93% | Amadeus | -17% | -31% | -18% |
| Las Vegas Sands | -22% | 20% | -8% | IAG | -2% | 9% | 103% |
| Delta Air Lines | 11% | 49% | 67% | Ryanair | -20% | -3% | 45% |
| United Airlines | -8% | 24% | 83% | Lufthansa | -5% | 9% | 5% |
| Southwest Airlines | 0% | 20% | -28% | Air France | -5% | 17% | -53% |
| Marriott | 24% | 44% | 168% | EasyJet | -7% | -19% | -40% |
| Hilton | 17% | 33% | 166% | Wizz Air | -24% | -18% | -80% |
| Hyatt | 19% | 42% | 136% | IHG | 15% | 40% | 125% |
| Carnival | -15% | 6% | -13% | Melia Hotels | 41% | 55% | 61% |
| Royal Caribbean | -4% | -1% | 195% | Accor Hotels | -6% | -2% | 31% |
| Norwegian Cruise Line | -20% | -10% | -45% | AENA | 4% | 4% | 76% |
Data from Bloomberg (6/10/2026). Past performance is not an indication of future results.
Table 2: Performance of US and European ‘BEACH’ stock baskets
| Returns | YTD | 1-Year | 5-Year |
| S&P 500 | 6% | 21% | 72% |
| Stoxx 600 | 4% | 12% | 36% |
| US Basket | -3% | 15% | 57% |
| EU Basket | -1% | -2% | 1% |
Data from Bloomberg (06/10/2026). Past performance is not an indication of future results.
