Expedia CEO: Despite record-high gas prices, 'people are still traveling'
Despite soaring gas prices nationwide, holiday travelers are not deterred. In fact, bookings for Labor Day have surged 35%, with people seeking out vacation spots like Las Vegas or Mexican locales. Expedia Group CEO Ariane Gorin emphasized that consumers are actively seeking deals and prioritizing travel, utilizing budget or all-inclusive filters.
Gas prices hit a record high of $4.15 per gallon on Labor Day, making it the costliest holiday ever. Expedia has thrived amid this economic landscape, posting a 14% revenue increase year-over-year in Q2, with adjusted EPS growing 36%. The company has raised its full-year 2026 outlook, projecting revenue growth of 9%-10% and gross bookings up to $130.8 billion.
Investors have responded positively, with Expedia shares up 12% over the past six months. Analysts remain bullish on Expedia's prospects, citing sustainable growth driven by robust B2B segment expansion and improved margins.
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