A straightforward noun phrase meaning a person who is traveling. Slightly literary or poetic compared to 旅行者.
旅の人が道を尋ねてきた。
A traveler asked me for directions.
この町には旅の人がよく立ち寄る。
Travelers often stop by this town.
Compound of 旅 (tabi, 'journey') + の (possessive particle) + 人 (hito, 'person').