Jim Cramer, the Mad Money host, said on Thursday that he sees travel demand climbing and discussed various travel and leisure stocks.
“While I’m happy to see all these travel stocks roaring, you have to be cognizant that if you buy them up here, you are chasing them a little bit. But you know, I’m also wary about the fact that Wall Street’s attitude toward anything connected to the consumer can apparently change on a dime like it did three weeks ago.”
READ ALSO: Jim Cramer Expressed Thoughts on These 14 Stocks and Jim Cramer Highlighted 7 Stocks in Light of the Fed Rate Cut.
Cramer pointed out that the most recent shift happened to be positive, but he said there is no way to know what the next turn will look like. He noted that even with that uncertainty, the travel rallies still have room because a number of these companies remain well below past highs and trade at what he said are reasonable price-to-earnings multiples. He added that it is the kind of setup people look for in this market.
“Here’s the bottom line: We need to stay close to the consumer, watching what they’re doing rather than indicators that only follow what people say they’re doing to make sure that there’s no clear sign that things are deteriorating…. It’s hard to own these stocks. I think the consumer travel trade, though, can keep working as long as the Fed remains our friend. I bet these stocks continue to go higher, and there’s a residue here from the pandemic. It taught us something. We’re long on money, but we’re short on time.”
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For this article, we compiled a list of 7 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on December 11. We listed the stocks in the order that Cramer mentioned them. We also provided hedge fund sentiment for each stock as of the third quarter of 2025, which was taken from Insider Monkey’s database of 978 hedge funds.
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Jim Cramer Recently Talked About These 7 Travel and Leisure Stocks
7. Viking Holdings Ltd (NYSE:VIK)
Number of Hedge Fund Holders: 51
Viking Holdings Ltd (NYSE:VIK) is one of the travel and leisure stocks Jim Cramer recently talked about. Cramer called it his favorite during the episode, as he remarked:
“Finally, as I looked over the S&P 500’s top gainers today, I noticed that three of the top five gains came from major cruise line companies. I thought this strange. Royal Caribbean, Norwegian Cruise Line, Carnival, all up about 6%. But that again is part of what you buy after a Fed cut if you think the consumer’s better than you think. Let’s also not forget about Viking Holdings, the river cruise company that’s not included in the S&P 500. That is my favorite. Viking’s held up much better than the three majors this year because it’s more focused on older, wealthier travelers. The whole group’s been roaring for the past couple weeks, in part because everyone recognized that the Fed is still our friend and the shutdown didn’t really matter.”
Viking Holdings Ltd (NYSE:VIK) runs passenger travel services and provides river, ocean, and expedition cruises. Cramer discussed the company stock’s performance for the year during the October 21 episode. He said:
“Lately, we’ve heard a lot of handwringing about how demand for travel is finally tapering off, but not all forms of travel are created equal. Some of them are more equal than others, and that’s why the cruise lines have been holding up incredibly well. They represent tremendous value. Take Viking Holdings, that’s the parent of Viking Cruises, which is the world’s leading river cruise play. So far, this stock’s up more than 155% since it came public, roughly a year and a half ago, including a 39% gain year to date. At these levels, Viking’s within striking distance of its all-time high.”
6. Expedia Group, Inc. (NASDAQ:EXPE)
Number of Hedge Fund Holders: 63
Expedia Group, Inc. (NASDAQ:EXPE) is one of the travel and leisure stocks Jim Cramer recently talked about. Cramer noted that the stock is cheaper than BKNG, as he commented:
“I’d much rather go with the online travel agencies like Expedia and Booking Holdings… Expedia’s up… 35% before it bottomed in early November. Of the two (BKNG and EXPE), Expedia had the better third quarter… Expedia’s the cheaper stock, trading at just over 15 times next year’s earnings. That’s way too cheap versus roughly 20 times earnings for Booking. Plus, both of them should do better if I’m right about the consumer’s a lot more resilient than anyone thought of a month ago.”
Expedia Group, Inc. (NASDAQ:EXPE) operates travel platforms that provide lodging, flights, car rentals, vacation rentals, and package options. During the September 22 episode, Cramer suggested sticking with the company’s stock, as he said:
“And then there’s Expedia, the online travel agency. Expedia’s projected to put up 18% earnings growth next year, but it sells for 13 times next year’s numbers. Oh, that is very cheap. In fact, it’s much cheaper than key competitor, Booking Holdings, at 21 times earnings. So I say stick with Expedia. Booking’s a very well-run company though.”
5. Booking Holdings Inc. (NASDAQ:BKNG)
Number of Hedge Fund Holders: 95
Booking Holdings Inc. (NASDAQ:BKNG) is one of the travel and leisure stocks Jim Cramer recently talked about. Cramer highlighted the company’s resilience, as he stated:
“I’d much rather go with the online travel agencies like Expedia and Booking Holdings, the old Priceline. Bookings rallied more than 15% gain from its… November low… You know what? I still prefer Booking Holdings because it is the superior operator… Plus, both of them should do better if I’m right about the consumer’s a lot more resilient than anyone thought of a month ago.”
Booking Holdings Inc. (NASDAQ:BKNG) runs travel and dining platforms that let users book accommodations, flights, car rentals, activities, and restaurant reservations. Wedgewood Partners stated the following regarding Booking Holdings Inc. (NASDAQ:BKNG) in its third quarter 2025 investor letter:
“Booking Holdings Inc. (NASDAQ:BKNG) also detracted from performance during the quarter. Revenues grew +16% and earnings per share were up +32% on strong room night growth in its ex-U.S. markets. The Company derives over +60% of its bookings from travelers who go directly to the booking.com app or website. This has freed up advertising cash low to reinvest in distribution across search engines, social media, and now agentic commerce through OpenAI’s “Operator.” Booking’s focus on fragmented hotel suppliers in ex-U.S. markets is quite differentiated, so much so that it has allowed it to amass scale in areas that competitors simply have trouble reaching. The Company’s obsessive focus on generating attractive returns from advertising has also been a key driver of its success, and that should continue to be beneficial to shareholders, regardless of the marketing channel consumers choose.”
4. Airbnb, Inc. (NASDAQ:ABNB)
Number of Hedge Fund Holders: 71
Airbnb, Inc. (NASDAQ:ABNB) is one of the travel and leisure stocks Jim Cramer recently talked about. Cramer highlighted that the stock has been “frustrating” for him, as he remarked:
“Also, while Airbnb has been a very frustrating stock to me since it came public five years ago, stock’s now up more than 15% from its lows just three weeks ago. In theory, Airbnb makes sense for consumers traveling on a budget. But I’ve been burned so many times recommend[ing] the stock to you, and I still like it, I still like it, but I don’t feel like sticking my neck out at this very moment.”
Airbnb, Inc. (NASDAQ:ABNB) operates a global marketplace that links hosts providing homes and experiences with guests booking stays through its app and website. When an investing club member asked about the stock during the November 14 episode, the Mad Money host responded:
“Well, in How to Make Money in Any Market, I say that Airbnb is dramatically undervalued. I think that because it’s so much cheaper than a hotel room. I do think that the story’s gotta be told better, including by the CEO who’s not telling the story as well as I could. I know that sounds like hubris, but it really is the truth.”
3. Marriott International, Inc. (NASDAQ:MAR)
Number of Hedge Fund Holders: 57
Marriott International, Inc. (NASDAQ:MAR) is one of the travel and leisure stocks Jim Cramer recently talked about. Cramer highlighted the company’s “strong quarter” during the episode, as he commented:
“Not just the airlines. In logic, we’ve seen a nice move from Marriott International, the world’s largest hotel company, up about 14% since the end of October, in part because the company reported a strong quarter in early November. Marriott’s CFO also gave a presentation at an industry conference on November 21st, where he offered an upbeat outlook and said that ‘Leisure has completely and utterly held up exactly where we thought it would be.’ Wow, that’s throughout the year. He added that the government shutdown created some noise for business travel, but he didn’t seem all that worried about it. Love this stock, class by itself, and people were so worried about the shutdowns. It didn’t play a role.”
Marriott International, Inc. (NASDAQ:MAR) operates and franchises hotels, residences, and timeshares, ranging from luxury to budget options. Cramer mentioned the stock during the September 17 episode and said:
“The market turned on the travel leisure stocks again. Oh God, they keep doing that, even as I continue to tell you that COVID changed the industry permanently. Marriott was crushed today, which makes no sense at all, especially when American Express was up 3% to hit an all-time high.”
2. Southwest Airlines Co. (NYSE:LUV)
Number of Hedge Fund Holders: 40
Southwest Airlines Co. (NYSE:LUV) is one of the travel and leisure stocks Jim Cramer recently talked about. Cramer highlighted his discussion with the company CEO, as he stated:
“Some of the lower-cost names like Southwest Air and Alaska Air are up even more than that, with gains close to 40% from the November lows. I spoke with Bob Jordan, the CEO of Southwest, on Squawk on the Street yesterday. He sounded pretty darn enthusiastic about his company’s prospects now that they’re working hand in hand with the very smart activist investors at Elliott Management.”
Southwest Airlines Co. (NYSE:LUV) provides passenger air travel with a focus on convenience, loyalty rewards, and digital tools for booking. Cramer highlighted the stock during the April 14 episode and said:
“The airlines, they’ve been a mixed blessing between Delta bad, United good, the weak, and the strong. Which is Southwest, and which is American? I think they’re in the Delta camp, but their stocks are cheap. They may not stay that way.”
It is worth noting that Southwest Airlines Co. (NYSE:LUV) stock is up nearly 65% since the above comment was aired.
1. Delta Air Lines, Inc. (NYSE:DAL)
Number of Hedge Fund Holders: 70
Delta Air Lines, Inc. (NYSE:DAL) is one of the travel and leisure stocks Jim Cramer recently talked about. Cramer showed positive sentiment toward the stock, as he commented:
“So, what exactly is working in the consumer travel space? Why don’t we start with the airlines, which have really roared from their November lows, the Jets… ETF, the best proxy for the group, is up nearly 20% from its low… three weeks ago, 20%. Delta, United, [and] American Air, they’re up more than 20% over the same period… In a great note published on Sunday, Melius Research analyst Conor Cunningham pointed out that investors had been on the sidelines with the airline stocks waiting to see what kind of impact the government shutdown would have on them. And what we’ve seen is that the hit was much smaller than expected, with holiday travel demand also looking real good. For example, Delta, I regard that as… kind of the biggest and best in the airlines, they published an 8-K last week where they estimated that they’d taken a $200 million hit to pre-tax profit from the government shutdown. At the same time, they said, I’m going to quote here, ‘Demand remains healthy for the December quarter and trends are strong for early 2026.’ That sounds good to me.”
Delta Air Lines, Inc. (NYSE:DAL) provides passenger and cargo air transportation. The company operates a large fleet and global network across major hubs and also offers aircraft maintenance, repair, and overhaul services.
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