Travel tech exits are back, but not in the old, frothy sense. The market has thawed, yet it has not forgotten winter. Global travel demand is healthy again: international arrivals rose 4% in 2025 to roughly 1.52 billion, air travel demand grew 5.3%, and travel’s contribution to the world economy reached $11.6 trillion. But startup capital remains scarce. Travel startup funding stayed near decade lows in 2024, and Q1 2026 funding volume fell again. That gap between stronger demand and tighter venture money is why liquidity has returned to the center of the conversation. Founders want optionality. Investors want realizations. And buyers, finally, are writing checks again.

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