Spain Watchdog Fines Booking.com Nearly $450 Million For Abusing Its Dominant Position

Spain's competition watchdog said Tuesday it had slapped online travel agency Booking.com with a record $446.7 million fine for "abusing its dominant position" during the past five years. From a report: "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 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 CNMC 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. Booking.com, whose parent company Booking Holdings is headquartered in the United States, is a dominant player with a market share in Europe of more than 60 percent. In May, the European Union added the travel agency to its list of digital companies big enough to fall under tougher competition rules, giving the firm six months to prepare for compliance with the landmark Digital Markets Act (DMA).

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