It's no secret that Aussies love a holiday, which impacts the performance of many travel shares listed on the ASX.
While travel shares is an umbrella term, it includes many ASX listed companies that operate in leisure, tourism, business etc – and all contribute significantly to the Australian economy.
Here are three to keep an eye on this year.
Qantas Airways Ltd (ASX: QAN)
As Australia's largest and most recognisable airline, Qantas holds an important and dominant space in the Australian tourism landscape.
Last year, like many other ASX 200 shares, it dipped during early April amongst tariff panic.
However after that, it rebounded significantly, rising more than 30% from April 9 until the new year.
Overall, it finished 2025 with a total gain of more than 15%.
For context, the S&P/ASX 200 Index (ASX: XJO) rose approximately 6.3% in 2025.
However, it seems some experts are tipping more turbulence than upwards trajectory in 2026.
For one, general consensus is that 2026 may bring RBA rate increases, which could put pressure on household spending.
Rising interest rates usually hurt travel shares because higher borrowing costs and mortgage repayments reduce discretionary spending on travel.
In December, Sanlam Private Wealth's Ben Faulkner said the Qantas share price has run ahead of fundamentals.
This leaves it vulnerable to any possible downgrades.
On the flip side, average analyst ratings from TradingView has a 12 month price target on these travel shares of $12.31.
This is 17% higher than Friday's closing price.
SiteMinder Ltd (ASX: SDR)
These ASX travel shares ended the year on a bull run that simply cannot be ignored.
In the past 6 months, SiteMinder shares rose 38.15%.
It is a technology company that provides an e-commerce platform for hotels and other accommodation businesses. The company touts its product as helping hotels to sell, market, manage, and grow their businesses from one platform.
Even after its strong end to 2025, there could be more room for growth.
Late last year, UBS placed a price target of $8.30 on these ASX travel shares.
That indicates a further rise of 35% from Friday's closing price.
Kelsian Group Ltd (ASX: KLS)
Kelsian Group was one of the best performing ASX travel shares last year.
The company operates public and private transport and tourism services through a portfolio of brand names across Australia, United States, Singapore, London, and the Channel Islands.
In 2025, its share price rose an impressive 18%.
Despite this growth, it is still trading on a cheap price/earnings (P/E) ratio based on expected growth from forecasts on CMC Markets.
Furthermore, this travel stock is expected to pay a grossed-up dividend yield of 6.2% in FY26 and 6.9% in FY27.
