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Rising gas prices across the US haven't yet derailed holiday travel plans.
"People are still traveling, and if we just look at the searches for Labor Day, they were up 35%. The places people were searching for were more vacation destinations, like Las Vegas or places in Mexico," Expedia Group (EXPE) CEO Ariane Gorin told Yahoo Finance at the Goldman Sachs Communacopia & Tech Conference (video above). "When we look out to the fall, the searches are more for cities like Chicago, Boston, New York, which are expensive. We certainly are seeing more use of our budget filter or our all-inclusive filter. So people are looking for good deals, and they continue to prioritize travel."
According to AA, the national average gas price on Labor Day was $4.15 per gallon. That made it the most expensive Labor Day ever at the gas pump.
Expedia has benefited from a resilient US consumer this year — one who has dealt with several gas price spikes resulting from the US-Iran war.