The National Commission of Industrial Markets and Competition of Spain is going to fine the online hotel reservation service Booking with 530 million dollars, the final decision of the agency will be known no earlier than June 2024.
As El País clarifies, such a fine will be a record in the history of the Spanish regulator. The investigation into Booking has been ongoing since autumn 2022 and is related to possible abuse of the European company’s dominant market position.
The commission began the process after complaints from the Spanish Association of Hotel Directors and the Madrid Hotel Business Association.
The fine was made known from Booking’s financial results for the fourth quarter of 2023. The company said it suffered losses due to the regulator’s preliminary decision.
Booking sources told El País that the service was “disappointed with the commission’s resolution and totally disagreed with its conclusions.” If the decision of the Spanish regulator becomes final, the company intends to appeal it.
Author:
Akhmed Sadulayev
Source: RB
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