Betting against cruise ship and hotel stocks backfired and cost hedge funds more than $6 billion, report says

• AI hype has engulfed markets this year, but two of the S&P 500's top performers may surprise you. 
• Cruise ship stocks have been riding high, defying pessimistic market consensus on the industry. 
• Three of the biggest cruise companies cost hedge funds almost $3 billion in bad bets, per a report. 

Hedge funds have lost more than $6 billion on bad bets against cruise ship and hotel operators this year, the Financial Times reported. Of this, the three cruise ship companies account for almost $3 billion of the total mark-to-market losses, according to figures from S3 Partners seen by the outlet.