Priceline, the online travel company, continues to capture share in emerging markets where Internet penetration is low, the CEO of Priceline told CNBC Wednesday.
"I think there is a lot of running room in those markets," Boyd said.
"The network that we are building internationally is very, very powerful, and we're growing the business to be of significant size in new markets ... where online travel is a percentage of all travel is a lot lower and where the demographics are pointing towards a growth of a large middle class and more fundamental travel demand," he explained.
In the last five years Priceline's stock has increased 1,700 percent, but this growth rate will decrease somewhat going forward. "We've been very consistent in telling investors that over time we expect deceleration of these growth rates, and it really is the law of large numbers."