U.S.-based travel companies, from Marriott International to Booking Holdings are trimming their budgets and workforce ahead of next year as falling leisure travel demand from lower-income travelers hits top-line growth.

Real estate analytics company CoStar and global travel data firm Tourism Economics in November downgraded their 2025 outlook for room revenue growth to 1.8% from 2.6%. "We anticipate these recent trends to moderate and for overall demand growth to be slightly stronger next year,

Recent US election results are influencing Americans’ 2025 travel plans, with economic factors, geopolitical conflicts and other safety concerns also playing a role.

US-based travel firms, like Marriott International are slashing their budgets and cutting down their workforce ahead of next year. The travel companies are trying to navigate the decreasing demand for leisure travel from lower-income customers as it impacts top-line growth.