Recent earnings from travel & hospitality companies point to a slowdown in consumer demand. As consumers become more cautious with spending, some on Wall Street are wondering where to best position their portfolio to capitalize on these trends. Ronald Josey, Citi Research Internet Analyst, joins Yahoo Finance to discuss travel stocks and where investors should keep an eye out for opportunities. Josey mentions Booking Holdings (BKNG) as one of this top picks, citing: "It is a matter of scale. There's no ifs, ands or buts about it. The more hotels you have, in what is an increasingly supply-driven market, the more you can generate greater demand. Booking having as many hotels as they do in Europe, increasingly in North America, also also in Asia-Pac, and, we think they're among the best positioned to benefit from this continued trend of travel... The thing that Booking has not just the scale in hotels to your question, it's also the know how and marketing efficiency on how to really go after those consumers that are willing and able to and want to spend on travel, and that's a super power that I think Booking has that everybody wants to emulate." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino

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