US Lodging, Cruise & Online Travel 2025 Outlook. Is there any remaining Wanderlust in Travel stocks? 6 January 2025 Estimate Change Global Hotels & Leisure How 2025 will shake out: 2025 looks set to be the most normal year since 2019 - the final vibrations of the pandemic have now all but died down, and we expect the fundamentals to once again be largely dictated by in-year supply and demand. However, this normalization should be little to fear - GDP and CPI forecasts suggest a solid year for underlying rea ...