The travel industry is soaring back to its peak.
In fact, it’s forecast to drop an estimated $9.5T into the global GDP’s piggy bank in 2023, just 5% below pre-pandemic levels.
So—
In today’s post, we use CompaniesMarketcap data to show the world’s biggest travel companies by market capitalization.
Let’s make a start:
1. Booking Holdings (Booking.com)
Country: United States
Category: Online Travel Agency (OTA)
Market capitalization: $111.78B
About: Booking Holdings, based in Norwalk, is a leading American travel tech company with platforms like Booking.com and Priceline.com, serving in 40 languages across 200 countries.
2. Airbnb
Country: United States
Category: Vacation Rentals
Market capitalization: $79.58B
About: Airbnb, headquartered in San Francisco, is an online marketplace for homestays and experiences, established in 2008. While innovative, it’s faced criticism for impacting housing affordability in tourist-heavy cities.
3. Marriott International
Country: United States
Category: Hotels
Market capitalization: $60.62B
About: Marriott International, headquartered in Bethesda, is a global hotel giant with over 8,000 properties in 139 countries. Interestingly, their rooms include both the Book of Mormon and the Bible due to the founders’ Mormon ties.
4. Oriental Land
Country: Japan
Category: Resorts
Market capitalization: $57.48B
About: Oriental Land Company, headquartered in Urayasu, Japan, operates Tokyo Disney Resort and attractions like Tokyo Disneyland. Founded in 1960, it’s a major leisure subsidiary of Keisei Electric Railway Company.
5. Las Vegas Sands
Country: United States
Category: Resorts/Hotels
Market capitalization: $40.80B
About: Las Vegas Sands, based in Paradise, is a top American casino and resort firm known for Marina Bay Sands in Singapore and Macau properties such as The Venetian Macao.
6. Hilton Worldwide
Country: United States
Category: Hotels
Market capitalization: $39.19B
About: Hilton Worldwide, based in Tysons, manages a vast hotel network across 118 countries, with brands like Waldorf Astoria and DoubleTree. Founded in 1919, it now oversees 6,215 properties.
7. Amadeus IT Group
Country: Spain
Category: Travel Tech Companies
Market capitalization: $29.66B
About: Amadeus IT Group, headquartered in Madrid, offers tech solutions for the travel industry, serving airlines, hotels, and travel agencies globally with services like booking, ticketing, and inventory management.
8. Galaxy Entertainment
Country: Hong Kong
Category: Resorts/Hotels
Market capitalization: $27.81B
About: Galaxy Entertainment Group (GEG) is primarily involved in operating hotels and casinos in Macau through its subsidiary, Galaxy Casino S.A. GEG’s business divisions span gaming, entertainment, and construction materials. The Lui Family of Hong Kong predominantly controls GEG, holding a combined interest of 50.3%.
9. Delta Air Lines
Country: United States
Category: Airlines
Market capitalization: $26.96B
About: Delta Air Lines, headquartered in Atlanta, is a major US airline, flying to 325 destinations across 52 countries. Established as one of the world’s oldest airlines, it conducts over 5,400 daily flights.
10. Trip.com
Country: Singapore
Category: Online Travel Agency (OTA)
Market capitalization: $26.19B
About: Trip.com, headquartered in Singapore, is an extensive online travel platform offering bookings for flights, hotels, and more in 19 languages, overseeing 1.2M hotels and 2M flight routes globally.
11. Royal Caribbean
Country: United States
Category: Cruise Lines
Market capitalization: $25.37B
About: Royal Caribbean International (RCI), founded in 1968 in Norway and now based in Miami, is a leading cruise line and subsidiary of Royal Caribbean Group. Notably, RCI partnered with SpaceX to use Starlink for better onboard internet in 2022.
12. Ryanair
Country: Ireland
Category: Airlines
Market capitalization: $22.32B
About: Ryanair, an Irish low-cost carrier founded in 1984 and based in Dublin, operates 500+ planes across 40+ countries. Despite rapid growth post-European aviation deregulation, it’s faced criticism on service and working conditions.
13. Carnival Corporation
Country: United States
Category: Cruise Lines
Market capitalization: $20.52B
About: Carnival Corporation, originating from Carnival Cruise Line in 1972, manages 90+ ships across nine brands. With roots in the US and the UK, its notable acquisition includes P&O Princess Cruises in 2003.
14. Southwest Airlines
Country: United States
Category: Airlines
Market capitalization: $18.60B
About: Southwest Airlines, based in Dallas and founded in 1967, is a top low-cost carrier serving 131 destinations. With a unique business model (i.e., a rolling hub system, free checked baggage), it operates around 4,000 daily flights.
15. Air China
Country: China
Category: Airlines
Market capitalization: $16.79B
About: Air China, one of China’s “Big Three” airlines, is based in Beijing. Since its 2007 Star Alliance membership, it’d transported 102M passengers by 2017, using Boeing and Airbus.
16. United Airlines Holdings
Country: United States
Category: Airlines
Market capitalization: $16.20B
About: United Airlines, based in Chicago, has a vast domestic and international network covering every inhabited continent. Originating from Varney Air Lines in 1926, it became the third-largest after its 2010 merger with Continental Airlines.
17. MGM Resorts
Country: United States
Category: Resorts/Hotels
Market capitalization: $15.43B
About: Founded in 1987, MGM Resorts International operates renowned resorts, including the Bellagio and MGM Grand in Las Vegas. In the 2000s, its focus shifted to real estate in leisure and gaming.
18. Expedia Group
Country: United States
Category: Online Travel Agency (OTA)
Market capitalization: $15.42B
About: Expedia Group, founded as a Microsoft division in 1996 and now based in Seattle, operates platforms like Expedia.com (a combination of “exploration” with “speed”) and Hotels.com, offering 3M lodging options and flight bookings across 500+ airlines.
19. Singapore Airlines
Country: Singapore
Category: Airlines
Market capitalization: $15.12B
About: Singapore Airlines is Singapore’s flag carrier, known for its 5-star Skytrax rating. Boasting over 20 subsidiaries, its offerings span from engineering to cargo, with notable ventures alongside Boeing and Rolls-Royce.
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20. China Southern Airlines
Country: China
Category: Airlines
Market capitalization: $14.19B
About: China Southern Airlines, headquartered in Guangzhou, is China’s largest airline. Formed in 1988 and part of the “Big Three,” it operates 2,000+ flights daily, mainly from Guangzhou Baiyun and Beijing Daxing airports.
21. Huazhu Hotels
Country: China
Category: Hotels
Market capitalization: $13.54B
About: Based in Shanghai, Huazhu Hotels Group operates 6,187 properties in 16 countries. In partnership with Accor since 2014, Huazhu oversees brands like Mercure and Novotel in China and Mongolia. In 2019, they acquired Deutsche Hospitality, bringing in brands like Steigenberger Hotels.
22. InterContinental Hotels Group
Country: United Kingdom
Category: Hotels
Market capitalization: $12.57B
About: Founded as Bass Brewery in 1777, the UK’s InterContinental Hotels Group (IHG), headquartered in Windsor, grew through acquisitions, including Holiday Inn and the InterContinental chain. By 2019, IHG managed 5,656 hotels worldwide with brands like Crowne Plaza and Kimpton.
23. China Eastern Airlines
Country: China
Category: Airlines
Market capitalization: $11.96B
About: China Eastern Airlines, based in Shanghai, is among China’s “Big Three” airlines. Established in 1988 with hubs in Shanghai Pudong and Hongqiao, it’s China’s second-largest in passenger traffic.
24. Hyatt Hotels
Country: United States
Category: Hotels
Market capitalization: $11.65B
About: Hyatt Hotels, headquartered in Chicago, offers luxury accommodations worldwide. Founded in 1957, it has over 1,350 establishments in 69 countries today.
25. Turkish Airlines
Country: Turkey
Category: Airlines
Market capitalization: $11.60B
About: Turkish Airlines is Turkey’s largest mainline carrier by destinations as of 2022, flying to 340 locations across four continents. Additionally, its Turkish Cargo operates 24 aircraft serving 82 locations.
26. InterGlobe Aviation
Country: India
Category: Airlines
Market capitalization: $11.49B
About: IndiGo is India’s leading low-cost airline. It dominates the domestic market, with a 57.5% share as of 2023. Plus, it connects 108 destinations globally, flying 1,900 daily flights.
27. Host Hotels & Resorts
Country: United States
Category: Hotels/Resorts
Market capitalization: $11.48B
About: Tracing back to 1897, Host Hotels & Resorts is an American hotel investment firm. As of 2021, they own 80 upscale US, Brazil, and Canada hotels. After several transformations, it refocused solely on hotel investments in 2006.
28. Wynn Resorts
Country: United States
Category: Resorts/Hotels
Market capitalization: $10.88B
About: Wynn Resorts, based in Nevada, is a luxury hotel and casino developer founded in 2002 by Steve Wynn. Their portfolio includes Wynn Las Vegas and Wynn Macau.
29. ANA Holdings
Country: Japan
Category: Airlines
Market capitalization: $10.68B
About: ANA Holdings, established in 2013, is an airline conglomerate overseeing 70+ entities, including All Nippon Airways and Peach Aviation.
30. Lufthansa
Country: Germany
Category: Airlines
Market capitalization: $10.63B
About: Lufthansa, Germany’s flag carrier is Europe’s second-largest in passenger numbers after Ryanair. A Star Alliance founding member, it owns several subsidiary airlines and aviation-related businesses, including Lufthansa Technik and LSG Sky Chefs.
31. International Consolidated Airlines
Country: Spain
Category: Airlines
Market capitalization: $10.15B
About: International Airlines Group (IAG), an Anglo-Spanish airline holding company based in Madrid and London, formed in 2011 from the merger of British Airways and Iberia. It has since acquired BMI, Vueling, and Aer Lingus and owns the Level brand and Avios loyalty program.
32. Accor
Country: France
Category: Hotels
Market capitalization: $9.55B
About: French multinational Accor S.A. is Europe’s largest hospitality firm and the world’s sixth. Operating 5,300 locations across 110 countries, its brands range from luxury (Raffles, Fairmont) to economy (Ibis).
33. American Airlines
Country: United States
Category: Airlines
Market capitalization: $9.52B
About: American Airlines, based in Fort Worth, is the world’s largest by scheduled passengers. Flying nearly 6,800 daily flights to 350 destinations, it’s also a prominent Oneworld member.
34. Hainan Airlines
Country: China
Category: Airlines
Market capitalization: $9.18B
About: Hainan Airlines, a 5-star Skytrax-rated carrier from Haikou, Hainan, is China’s fourth-largest by fleet size. Founded in 1989, it runs flights from hubs like Haikou, Beijing, and Xi’an.
35. Japan Airlines
Country: Japan
Category: Airlines
Market capitalization: $9.07B
About: Japan Airlines (JAL), headquartered in Tokyo, is Japan’s flag carrier. Operating from hubs like Narita and Haneda, its group, which includes J-Air, connects 220 global destinations with 279 aircraft.
36. Whitbread
Country: United Kingdom
Category: Hotels
Market capitalization: $8.60B
About: Whitbread, a UK-based company founded in 1742 as a brewery, now operates Premier Inn, the UK’s top hotel brand, and restaurant chains like Beefeater and Brewers Fayre.
37. Vail Resorts
Country: United States
Category: Resorts
Market capitalization: $8.57B
About: Vail Resorts, based in Colorado, operates 40 mountain resorts in four countries. It also manages hotels, lodgings, and golf courses, as well as develops property.
38. Genting Singapore
Country: Singapore
Category: Resorts/Hotels
Market capitalization: $8.07B
About: Genting Singapore PLC is known for its integrated resort development. It’s also behind the $6.6B Resorts World Sentosa, housing attractions like Universal Studios Singapore and the Marine Life Park.
39. Spring Airlines
Country: China
Category: Airlines
Market capitalization: $7.55B
About: Spring Airlines, based in Shanghai, is a low-cost carrier established in 2004. Initially serving domestic routes, it expanded internationally in 2009 to destinations including Hong Kong and Japan.
40. Norwegian Cruise Line
Country: United States
Category: Cruise Lines
Market capitalization: $7.20B
About: Norwegian Cruise Line (NCL), incorporated in Bermuda and based in Miami, is the third-largest cruise line worldwide. Founded in 1966 in Norway, NCL is notable for many industry-first innovations, including the concept of “Freestyle Cruising,” which emphasizes a more relaxed and informal cruise experience.
41. Qantas Airways
Country: Australia
Category: Airlines
Market capitalization: $6.95B
About: Qantas Airways, Australia’s largest airline headquartered in Sydney, is the only one with flights to all seven continents, including Antarctica tours. As of March 2023, it holds a 60.8% share in the domestic market and owns Jetstar.
42. Cathay Pacific
Country: Hong Kong
Category: Airlines
Market capitalization: $6.77B
About: Cathay Pacific, Hong Kong’s flag carrier, operates from Hong Kong International Airport, servicing 190+ global destinations. Established in 1946, its fleet mainly consists of Airbus and Boeing aircraft.
43. Dufry
Country: Switzerland
Category: Retail
Market capitalization: $6.73B
About: Dufry AG, based in Basel, Switzerland, is a premier travel retailer that runs duty-free and other shops across airports, seaports, railway stations, and tourist hubs in 65 countries. They also manage brands like Hudson and World Duty Free.
44. Korean Air Lines
Country: South Korea
Category: Airlines
Market capitalization: $6.47B
About: Korean Air, South Korea’s primary airline owned by Hanjin Group, serves 126 international cities and 13 domestic ones. It’s also a key SkyTeam alliance member.
45. Choice Hotels International
Country: United States
Category: Hotels
Market capitalization: $6.34B
About: Choice Hotels International, located in Rockville, Maryland, has a vast brand range from upscale to economy. Choice also pioneered unique features like 24-hour toll-free reservations and a cutting-edge property management system.
46. Wyndham Hotels & Resorts
Country: United States
Category: Hotels
Market capitalization: $6.21B
About: Wyndham Hotels & Resorts, the world’s top hotel franchisor based in New Jersey, controls 20 hotel brands, including Ramada and La Quinta.
47. Air Canada
Country: Canada
Category: Airlines
Market capitalization: $5.90B
About: Air Canada, Canada’s foremost airline based in Montreal, was founded in 1937. Operating hubs in Toronto, Vancouver, and Montreal, it serves 222 global destinations.
48. Alaska Airlines
Country: United States
Category: Airlines
Market capitalization: $5.77B
About: Alaska Airlines, North America’s fifth-largest based in SeaTac, primarily connects the West Coast US to over 100 destinations.
49. LATAM Airlines
Country: Chile
Category: Airlines
Market capitalization: $5.64B
About: LATAM Airlines Group, headquartered in Santiago, Chile, is the largest airline entity in Latin America, with subsidiaries spanning Brazil, Colombia, Ecuador, Paraguay, and Peru. Although dominant in the region, the airline filed for Chapter 11 bankruptcy in May 2020 due to the pandemic.
50. EVA Air
Country: Taiwan
Category: Airlines
Market capitalization: $5.60B
About: EVA Air, co-leading in Taiwan with China Airlines, specializes in 40+ international routes. Founded in 1989, it pioneered Premium Economy in 1991 and is also part of Evergreen’s global network today.
Stacking It All Up
There you have it.
A comprehensive list of the world’s biggest travel companies by market capitalization for 2023.
If you believe your audience will be interested in any of the information we’ve provided, feel free to share it. Just remember to link back to this page as a credit to our work.
Sources
- CompaniesMarketcap, “Largest Travel Companies by Market Cap”
- World Travel & Tourism Council, “Travel & Tourism: Economic Impact 2023”
As a Digital PR specialist and a member of the Society of Professional Journalists (SPJ), Max has 5+ years of writing experience.
Over the course of his career, Max’s work has garnered significant attention, with features in numerous prominent publications such as The New York Times, Forbes, Inc., Business Insider, Fast Company, Entrepreneur, BBC, TechRepublic, Glassdoor, and G2.