Markets finally surged to new all-time highs last week as tensions softened in Iran, and many of the biggest winners were in the travel sector.

Few sectors are more negatively affected by high oil prices than travel, where costs soar and demand is destroyed.

But now that oil markets are beginning to normalize (and hopefully stay there), several of the top companies in the airline, hotel, and cruise line industries are looking attractive.

Here are five travel stocks to consider as oil prices come down.

Hyatt Hotels Corp.

Shares of Hyatt Hotels (NYSE:H) surged last week as news of easing tensions in Iran boosted markets, closing up 5% on Friday. Hyatt had been one of the most heavily shorted stocks in the travel sector, with more than 22% of its float sold short, a sign of how concerned investors were about travel disruptions due to the war. But now that there's hope of a quick end, the stock looks attractive.

Hyatt has a resilient business model, serving affluent travelers with high-luxury concentrations and international destinations. Analysts at Truist Securities and Morgan Stanley both raised their price targets to $181 and $195, respectively, within the last few weeks, representing upside of 5% and 13% from current levels.

Shorts are starting to feel the pressure in Hyatt shares as the stock is up 18% in the last month alone, boosted by several technical tailwinds. The Moving Average Convergence Divergence (MACD) indicator has been showing buying pressure increasing since mid-March, and the Relative Strength Index (RSI) began climbing into bullish territory a few weeks later. The stock now trades comfortably above the 50-day and 200-day moving averages and hit a new all-time high at the close on Friday.

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Delta Air Lines Inc.

Delta Air Lines (NYSE:DAL) is our top choice to weather any type of margin compression due to skyrocketing jet fuel prices. Even if the Strait of Hormuz were to reopen and resume normal tanker flows, it would take weeks or even months to replace the production lost during the fighting, which is likely to keep fuel prices high through the summer travel season.

Despite these airline-specific tailwinds, Delta Air Lines remains the industry standard and delivered an optimistic outlook for 2026 during its Q1 report, which beat top- and bottom-line estimates. The new full-year 2026 EPS estimates are $6.50 to $7.50 per share, implying 20% growth over fiscal 2025 (where Delta posted record revenue of $63.4 billion in 2025). This prompted analysts to raise price targets, including a new Street-high $86 target from UBS.

A bullish MACD crossover in March began triggering upward momentum and helped arrest the stock's downtrend at the 200-day moving average. The RSI joined the party shortly thereafter, pulling out of Oversold territory and jumping above the bullish threshold of 50 as the stock price overtook the 50-day moving average. Fundamental and technical tailwinds should help Delta avert punishment for high jet fuel prices (plus they own their own refinery!), and the stock appears destined for new all-time highs this summer.

Booking Holdings Inc.

Booking Holdings (NASDAQ:BKNG) is an excellent ‘Buy Low' candidate from the travel sector following its quick 20% decline this spring. Despite the downtrend, Booking remains the top choice in the online travel agency (OTA) space, ahead of competitors like Expedia, thanks to its impressive reach and merchant business model that collects fees upfront.

The company easily surpassed expectations during its Q4 2026 earnings release, yet trades at just 16 times forward earnings, well below historical averages. The recent 25-to-1 split also provides liquidity by expanding retail access and options markets. 

Charts for BKNG shares are wonky due to the 25-1 split, but the stock is definitely in an uptrend following it. Last week, the stock was up more than 8%, and the RSI crossed above 50 into bullish territory. Despite these gains, BKNG is still more than 13% below its 2026 high, giving the stock plenty of room for upside in the summer months ahead.

Royal Caribbean Group

Cruise lines are always popular stocks to dump when geopolitical tensions flare, and waning travel demand and lost oil production definitely drove Royal Caribbean’s (NYSE:RCL) stock down. But management is still projecting 2026 EPS between $17.70 and $18.10, which implies double-digit growth over 2025, and Royal Caribbean has the cleanest balance sheet with more than two-thirds of its cabins booked for 2026. The stock also trades at just 19 times forward earnings and could see a series of analyst price target re-ratings as oil prices normalize.

RCL shares have been trading in a tight range following February's rapid decline, but technical cracks are now beginning to show on the upside. Despite the stocks having basically no movement over the last six weeks, a bullish cross has appeared on the MACD, and the uptrending RSI has finally poked its head above the bullish threshold of 50. If these trends continue, RCL shares won't be range-bound for much longer.

United Airlines Holdings Inc.

United Airlines (NYSE:UAL) takes a coach seat to Delta's first class ticket, but that doesn't mean the stock doesn't have upside from its current price. UAL shares plummeted from $116 to $88 in the early stages of the war as oil prices surged and analysts slashed their price targets en masse. But management hasn't backed off its 20% EPS upside projection for 2026, and they'll have a chance to confirm this when the company reports Q1 2026 results on April 21.

An investment in UAL is a high-beta play because it doesn't hedge fuel costs, but if the worst of this crisis is truly in the rearview, the stock may have the highest upside in the airline industry. 

UAL shares have jumped 10% over the last 30 days on renewed hopes of peace, and technical signals are starting to turn bullish as well. The stock retook the 50-day moving average last week for the first time since the bombings began, and the MACD and RSI are both showing strong upward momentum. Breaking above the 50-day moving average is a key movement ahead of earnings, so keep an eye on this stock before it reports on Tuesday.

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