In January, when a new president takes office, it will be occupied by a business man who happens to be part-hotelier and part-golf course owner.



Although Donald Trump has been at the helm of a global business that includes golf courses in Dubai and Scotland, and hotels in Canada, Ireland and soon in Brazil, his nationalist rhetoric on the campaign trail included talk of fencing off Mexico, vetting Muslims entering the U.S., and calling China a currency manipulator.

In other words, it's not exactly the kind of talk that is likely to draw hordes of travelers to the U.S. from other parts of the world.

"Trump's policies and persona represent a real market risk if they translate into antipathy towards the U.S. in general and dissuade travel to the U.S.," said a recent report by Oxford Economics, a global advisory firm affiliated with Oxford University's business college.

However, the report also stated that the strong U.S. dollar and slower global growth could ultimately be bigger factors that could weaken overseas travel to the U.S. in the next year.

Hotels and leisure shares have mostly outperformed the broader markets since Election Day. There are hopes that $650 billion in tax cuts under the Trump administration will mean more spending on travel. Marriott International has rallied 7 percent, more than double the gains for the S&P 500 in the same time period. Hilton Worldwide and Intercontinental Hotels shares have gained over 6 percent and 5 percent, respectively.