Goldman Sachs Group CEO David Solomon also warned that the economy is "late in the cycle," and that trade conflicts with China and instability across Europe have led to a general sense of apprehension.

According to Roger Dow, president and CEO of the U.S. Travel Association, macroeconomic pressures have already negatively affected the U.S. market's inbound travel. Softness in some South American and European markets and a stronger U.S. dollar have led to a decreased share of international arrivals.