The company allegedly engaged in unfair competition, affecting travel agencies and hotels. This information was announced through a company statement and the regulator has not yet taken a decision.
Booking will be fined $530 million (€489 million) for using anti-competitive practices that hurt hotels and travel agencies in Spain.
This information has been provided by the company itself with the accounts for 2023 through a statement. If confirmed, the penalty will be enforced by Spain's National Commission for Markets and Competition (CNMC) and will be the largest fine ever imposed by that regulatory body.
It can be read that “the company has accumulated losses worth $530 million linked to a preliminary decision by the Spanish jurisdiction.”
Although the organization has not made any official progress yet, the company has already announced that it “disagrees” with the decision. The same document confirms: “We intend to appeal this unprecedented decision in Spain if it becomes final.”
It must be remembered that the Spanish regulatory authority opened an investigation into the Booking case in October 2022, in light of the possible abuse of its dominant market position, regarding the intermediation services offered by online travel agencies for hotel stays.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.