Jim Cramer has expressed his preference for these 6 travel and leisure GARP stocks.

• On Monday, CNBC's Jim Cramer recommended six affordable and growth-potential stocks in the travel and leisure industry.
• The market seeks growth at a reasonable price, or GARP, when the Federal Reserve increases interest rates, as stated by the "Mad Money" host. This means that investors prefer companies with above-average growth rates but relatively inexpensive stock valuations.

On Monday, CNBC's Jim Cramer recommended six affordable and growth-potential stocks in the travel and leisure industry.

The market seeks growth at a reasonable price, or GARP, when the Federal Reserve increases interest rates, as stated by the "Mad Money" host. This means that investors prefer companies with above-average growth rates but relatively inexpensive stock valuations.

"According to GARP, get used to the new way of investing, okay?" he later added.

The Fed is expected to raise interest rates by 50 basis points in upcoming meetings, as indicated by the minutes of the March meeting, which were released on April 6. Additionally, the Fed plans to shrink the balance sheet by around $95 billion a month.

Cramer first screened S&P 500 companies for double-digit earnings growth in the next two years. Then, he analyzed their price-to-earnings growth ratio (PEG ratio), which indicates how much investors are willing to pay for a company's growth rate. A PEG ratio of 1 or less is generally considered cheap, indicating a reasonable valuation.

Cramer reduced the list of companies to 51 by using two metrics.

Cramer stated that he will be discussing his favorites throughout the week and believes that the travel and leisure stocks he has chosen will benefit from the great reopening, despite the Fed potentially slowing down the economy.

Cramer has chosen his top six "GARP-iest" companies in the travel and leisure industry.

Disclosure: Cramer’s Charitable Trust owns shares of Disney.

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