Expedia CEO: Here's How Low Oil Helps Us

Expedia IncEXPEfourth quarter earnings release on Wednesday. Speaking to CNBC on Thursday, Expedia's CEO Dara Khosrowshahi discussed the company's performance and how low oil prices is giving a boost to his business. Khosrowshahi acknowledged that the recent terrorist attack in Paris, France had a minor affect on global travel. Nevertheless, the company ended the fiscal year with nearly $60 billion in gross bookings and $1.2 billion in EBITDA. Khosrowshahi continued that customer demand for hotels continued to grow in the fourth quarter at a "very significant rate." He pointed out that room night growth was over 36 percent in the fourth quarter. Commenting on the overall macro-economic difficulties, Khosrowshahi stated that he isn't "feeling it as much in our business." In fact, the executive stated that low oil prices is a positive for the travel industry as lower air ticket prices leaves travelers with extra cash in their pocket to spend at hotels. "Low oil prices for us are actually a positive as they get the leisure traveler out there," Khosrowshahi concluded.