Spain Watchdog Fines Booking.com 413 Mn Euros

Spain's competition watchdog said Tuesday it had slapped online travel agency Booking.com with a record 413-million-euro fine for "abusing its dominant position" during the past five years

Madrid, (APP - UrduPoint / Pakistan Point News - 30th Jul, 2024) Spain's competition watchdog said Tuesday it had slapped online travel agency Booking.com with a record 413-million-euro fine for "abusing its dominant position" during the past five years.

"These practices have affected hotels located in Spain and other online travel agencies that compete with the platform. Its terms and conditions create an inequitable imbalance in the commercial relationship with hotels located in Spain," the authority, known by its acronym CNMC, said in a statement.

"By better positioning hotels with more bookings on Booking.com, other online agencies have been prevented from entering the market or expanding," it added.

This is the largest fine ever imposed by the CNMC, a spokeswoman for the authority told AFP.

The regulator said Booking.com's market share in Spain, the world's second most visited country after France, during the period under investigation was between 70 percent and 90 percent.