Jeffery Boyd, chief executive, said attracting customers away from travel agents to online booking remains the growth engine of the business. He told analysts on the company's earnings call growth rates in portions of Priceline's business would decline, because the number of customers moving from offline travel agents to online bookings would taper off, but not dramatically. The savings from booking leisure travel online is still dawning on customers in portions of Asia and Latin America, he said. And customers in those markets provide additional benefit by scheduling travel at different seasons. European and North American customers book more travel during the second and third quarters, compared with Asian and South American customers who tend to travel more during the fourth and first calendar quarters, said Boyd. Priceline is investing heavily in its Asian business, which has put pressure on margins. Boyd told analysts that spending would continue "especially in these rapidly growing markets in Asia and elsewhere, where we are still a relatively new entrant." Get the full story at The Wall Street Journal (free content) Read the full 1Q press release at