A Spanish regulator has fined the digital accommodation booking company Booking.com 413.2 million euros for dictating conditions on hotel accommodation prices and suppressing competition.
Since 2019, Booking.com has used its market share, which varies from 70 to 90 percent, to impose unfair terms on accommodation prices for hotels, the Spanish regulator CNMC announced.
Hotels cannot offer lower prices than those on Booking.com on their websites, the CNMC ruled, and Booking.com can unilaterally and without consultation determine discounts on their rooms.
The CNMC imposed two fines of 206.6 million euros on Booking.com. Booking Holdings, the parent company of Booking.com, announced the appeal, saying it disagreed with "the outcome of the CNMC's investigation," according to a spokesman. They also believe the dispute should be settled under the European Union's Digital Markets Act.
