Travel Stocks Are Getting Pummeled as the Iran Conflict Drags On. Here Are 3 to Buy on the Dip.

When the U.S. and Israeli strikes on Iran began on Feb. 28, travel stocks lost more than $22.6 billion in combined market value in a single session. Dubai and Doha airports closed for days, over 4,000 flights were canceled, and oil surged from roughly $72 per barrel to well above $100. The sector has been in a slow bleed ever since, with cruise lines, vacation operators, and experiential travel companies all taking the kind of damage that looks permanent on the surface but is rarely permanent in practice.

A two-week ceasefire was announced on April 8, and travel stocks bounced hard. But history and business fundamentals suggest the sell-off created a real entry point for long-term investors. Here are three names worth considering.

Image source: Viking.

1. Viking

Viking (NYSE: VIK) is not your grandfather's cruise line. It is a premium, no-casino, destination-focused operator with a fleet spanning river, ocean, and expedition cruises. By mid-February -- before the conflict began -- Viking had already sold 86% of its 2026 capacity and held nearly $6 billion in advance bookings. The company posted a 62% return in 2025 and entered 2026 by guiding for 13% revenue growth.

After the April 7 ceasefire announcement, shares jumped 8.3% in a single session. Viking is not in the S&P 500, but its fundamentals speak for themselves. The company plans to expand its fleet through 2034, and its Mediterranean and European river itineraries -- the core of its business -- are exactly the routes that benefit most when geopolitical uncertainty fades.

2. Travel + Leisure Co.

Travel + Leisure (NYSE: TNL) is a vacation ownership company, not a cruise line or an airline, which makes it an unconventional travel pick. Its revenue comes primarily from members who have already committed to vacation spending through ownership contracts, giving it a more resilient revenue base than a company dependent on discretionary trip planning. The board raised its quarterly dividend by 7% to $0.60 per share in mid-March 2026, even as the broader travel sector was in turmoil.

Shares are in the S&P 500 and trade close to fair-value estimates, with analysts projecting a consensus price target of $86.50. That implies a 14% upside over the next year. That recurring membership model is genuinely different from the companies that got obliterated during the conflict, and it should help the company weather the current turmoil.

3. Lindblad Expeditions

Lindblad Expeditions (NASDAQ: LIND) is a pretty niche play here. It's an expedition cruise operator that takes small groups to Antarctica, Galapagos, and remote corners of the Arctic on intimate, science-focused ships.

Insiders have been net buyers over the past 12 months, and analysts from both Benchmark and Stifel maintain Buy ratings with price targets in the $18 to $23 range. The risk here is that Lindblad serves a niche traveler who books expensive, long-lead expeditions. In other words, demand can soften quickly if high-net-worth consumers get spooked. But the company's load factors were improving heading into the conflict, and its core traveler demographic tends to be more insulated from short-term economic shocks than the average vacationer.

Micah Zimmerman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Viking. The Motley Fool recommends Lindblad Expeditions. The Motley Fool has a disclosure policy.