Travel data update: World Cup boost supports US travel, while Intl. remains soft

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Travel data update: World Cup boost supports US travel, while Intl. remains soft

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Travel data update: World Cup boost

supports US travel, while Intl. remains soft

Industry Overview

2Q travel data suggests stable US, some Intl slowing 17 July 2026

Overall travel data in the US for 2Q remains relatively steady q/q, but International Equity

growth has slowed, with a diminishing y/y FX benefit. In the US, RevPAR has United States

accelerated vs 1Q, and our lodging analysts estimate the World Cup added +225bps of

growth in June, and added +75bps to the quarter. US TSA y/y enplanements y/y flattish

in 2Q, with some deceleration in early July MTD (-2.2%). BAC aggregated credit and

debit card data for Jun’26 suggests a y/y acceleration in 2Q US airline spend (due to Justin Post

Research Analyst

higher fares) and lodging spend growth, aided by y/y Liberation Day comps. Early US BofAS

airline 2Q results have suggested stable leisure demand trends despite higher pricing. +1 415 676 3547

justin.post@bofa.com

However, Intl RevPAR growth has decelerated, and a key question now is if Europe travel

Nafeesa Gupta

picks up after the World Cup ends despite ongoing ME conflict. Research Analyst

BofAS

+1 415 436 3558ME conflict: RevPAR showing continued regional pressure nafeesa.gupta@bofa.com

RevPAR data points in the ME suggest continued pressure in travel. STR estimates MEA

RevPAR at -48% in April, -3% in May (calendar timing impact), -27% for June, improving

to -14% in July MTD. We note OTAs had 1-2pt impact on room night growth from the

Middle East in 1Q (heavily weighted toward March), and we expect 1-2pt headwind in

2Q room‑night growth (Booking most exposed) in 2Q due to ME pressure. ADR – Average Daily Rate