China hits travel platform Trip.com with $765M in penalties over monopoly abuses
Regulators said Trip.com used traffic rules and exclusive hotel deals to curb competition, and ordered it to refund 122 million yuan in deposits.
- On Saturday, China's State Administration for Market Regulation imposed penalties of 5.2 billion yuan on Trip.com Group for abusing its dominant position in the domestic online hotel-booking market.
- Regulators allege Trip abused its market position since 2020 by using traffic-allocation mechanisms to strike exclusive hotel deals while restricting operators from setting their own prices.
- SAMR confiscated 1.66 billion yuan in "illegal gains" and imposed a fine of 3.52 billion yuan, while ordering the Group to refund 122 million yuan withheld from hotel operators.
- Trip acknowledged the penalty in a statement Saturday, stating the Group "sincerely accepts and will resolutely comply" with the decision and implement rectification measures item-by-item.
- This penalty reflects Beijing's broader effort to curb unfair competition among internet platforms, as authorities say excessive price competition has harmed businesses and fueled deflationary pressures.
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China fines Trip.com $770 million over online hotel-booking monopoly | Honolulu Star-Advertiser
BEIJING >> China’s market regulator said on Saturday it had fined and confiscated a total of 5.2 billion yuan ($770 million) from Trip.com Group for abusing its dominant position in the domestic online hotel-booking market.
China fines Trip.com $765 million for abusing its dominance in hotel bookings
China’s market regulator fined Trip.com Group $765 million on Saturday after concluding that the country’s largest online travel platform abused its dominant market position. The State Administration for Market Regulation said Trip.com used its traffic allocation algorithms, platform rules and technology to restrict hotel operators from listing on competing services and to control the prices […] This story continues at The Next Web
Chinese regulator fines Ctrip operator for monopoly abuses
China's State Administration for Market Regulation said on Saturday that it has imposed administrative penalties on Trip.com Group, the operator of Ctrip travel platform, for abusing its dominant market position in violation of the country's anti-monopoly law.
China announced on Saturday sanctions of nearly $765 million against Trip.com Group, which operates the country's largest online travel platform, for alleged monopolistic practices.
Chinese regulators have fined travel booking platform Trip.com nearly 5.2 billion yuan, equivalent to over 672 million euros. China's largest online travel organization abused its dominant market position, market regulator SAMR stated following months of investigation.
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