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Expedia CEO: Here's How Low Oil Helps Us

Expedia CEO: Here's How Low Oil Helps Us

Shares of Expedia Inc (NASDAQ: EXPE) surged higher by more than 10 percent on Thursday following the company's fourth-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 are giving a boost to his business.

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Khosrowshahi acknowledged that the recent terrorist attack in Paris, France, had a minor effect 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.

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