Tina Jiang covers travel trends in 2025 and looks ahead to 2026. She saw “inconsistencies” in 2025, walking through the year that was and noting that business travel sank and summer travel peaked early. She says travel companies need agility to navigate 2026, with a price sensitive consumer. She says Booking (BKNG) and Expedia (EXPE) are leading. Meanwhile, cruise traffic has grown 6%. Tina thinks budget brands are set up to win.