A Skift analysis of congressional financial disclosures reveals that over three dozen lawmakers and their spouses have engaged in travel industry-related stock trades, involving airlines, hotel chains, cruise companies, and travel tech firms. Since the 2021-2022 congressional session, nearly 600 individual trades have been made, totaling millions of dollars. Marriott International, Airbnb, Uber, Hilton Worldwide, and Booking Holdings are among the most frequently traded stocks by members of Congress and their spouses.

While members of Congress are legally permitted to trade stocks, they must comply with the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act), which prohibits insider trading and requires disclosure of trades within 45 days. Violations of these disclosure rules have occurred, leading to increased calls for limitations or bans on individual stock trading by elected officials.

Dylan Hedtler-Gaudette of the Project on Government Oversight suggests lawmakers could avoid potential conflicts of interest by investing in broad-based mutual funds rather than individual stocks, particularly given the travel industry's sensitivity to tax implications and subsidies.

Top Traded Travel Stocks:

• Booking Holdings: 85 trades by 8 lawmakers
• Marriott: 67 trades by 7 lawmakers
• Airbnb: 59 trades by 7 lawmakers
• Hilton: 37 trades by 6 lawmakers
• Boeing: 21 trades by 11 lawmakers

Booking Holdings: Eight members of Congress, including Sen. Dan Sullivan (R-Alaska) and Reps. Jefferson Shreve (R-Ind.), Ro Khanna (D-Calif.), and others, have disclosed trades in Booking Holdings stock. Rep. Michael McCaul's attorney indicated his wife made the trades independently. Khanna's office attributes his trades to his wife's diversified trust managed by an independent party. Rep. Diana Harshbarger last reported trading in 2023, including shares of Hyatt Hotels.

Marriott International: Reps. Lois Frankel (D-Fla.), Jonathan Jackson (D-Ill.), and others are among recent investors in Marriott. Jackson claimed he was unaware of the purchases made by his financial advisor. Rep. Susie Lee (D-Nev.) is transferring her holdings into ETFs due to a divorce and supports a ban on members of Congress directing stock trades.

Airbnb: Reps. Dan Goldman (D-N.Y.), Rob Bresnahan (R-Pa.), and others have reported Airbnb trades. Goldman has stopped trading individual stocks and placed his assets in a blind trust. Rep. Josh Gottheimer (D-N.J.) has also taken steps to detach himself from travel and other stock trades, awaiting approval for a blind trust.

Hilton Worldwide Holdings: Sens. John Curtis (R-Utah) and Markwayne Mullin (R-Okla.), along with Reps. Kevin Hern (R-Okla.) and others, have disclosed trades in Hilton stock.

Boeing: Reps. Marjorie Taylor Greene (R-Ga.), Tom Suozzi (D-N.Y.), and others have invested in Boeing. Rep. Dave Joyce (R-Ohio) previously failed to properly disclose Boeing stock trades. Rep. George Whitesides (D-Calif.) sold a substantial amount of Royal Caribbean stock as part of an effort to target government corruption.

Uber: Representatives who've traded Uber include Reps. James Comer (R-Ky.), John James (D-Mich.), and others. Uber is the most popular travel and tourism industry stock when measured by the number of lawmakers who’ve reported trading it during the past four years. Shreve, a member of the U.S. House Committee on Transportation and Infrastructure, bought between $15,001 and $50,000 worth of Uber stock on April 7, congressional records indicate. Landsman’s Uber trades violated the STOCK Act due to late disclosures.

Other Companies:

• Expedia Group: Reps. Zoe Lofgren (D-Calif.), Frankel and Khanna have traded Expedia Group stock. Lofgren violated the STOCK Act in 2023 when she failed to properly report various stock trades.
• Las Vegas Sands: Reps. John James (R-Mich.), McCaul, Johnson and Khanna have reported Las Vegas Sands trades.
• MGM Resorts: Sen. Tom Carper (D-Del.) and Reps. Lee and Khanna have reported stock trades in the hotel company.
• Wynn Resorts: Reps. Dan Crenshaw (R-Texas), Lee, Cisneros, Moody, Khanna, and Hern combined to make a dozen reported stock trades in the hotel company.
• Host Hotels & Resorts: Steve Cohen (D-Tenn.), Goldman, and Khanna combined to make 10 trades in the company.

Airlines: Southwest Airlines and Delta Air Lines are popular targets. Reps. Dwight Evans (D-Pa.), Comer, Cisneros, and Khanna, as well as Sullivan have reported trades in airlines. Rep. Ron Estes (R-Kansas) is the only member of Congress to report a trade in Spirit Airlines.

Cruise Lines: Carnival Corp. is the most popular cruise stock among lawmakers. Meanwhile, Reps. George Whitesides (D-Calif.), Bresnahan, Khanna, and Lee have traded Royal Caribbean stock, while Moody and Khanna have disclosed trades in Norwegian Cruise Lines.

Former House Speaker Nancy Pelosi does not personally trade stocks, but her husband, Paul Pelosi, makes significant stock and stock option trades. Sen. Josh Hawley (R-Mo.) named a stock-ban bill after her – the “PELOSI Act.”