The CNMC proposes a record penalty of 486 million euros against Booking for abuse of dominant position

The National Markets and Competition Commission has sent Booking a draft by which the accommodation search company should pay a fine of 486 million euros for abuse of a dominant position.

As appears in the report written by the company itself and presented to the SEC, the CNMC has been investigating Booking since 2022 for anti-competitive practices.

It would be a record fine, and the company has already provided that amount of money, although it does not share the accusation, it explained in a statement.

“The company has recorded losses of 530 million dollars in the 2023 results related to a preliminary decision of the Spanish competition authority”, he assures in the first paragraphs of the information provided to the SEC on the occasion of the presentation of its results. From Booking they reject the sanction and assure that they will appeal if They are finally fined. Since October 2022, the National Commission of Markets and Competition (CNMC) in Spain has been carrying out an investigation into the practices of Booking.com.

The company assures that “although we have actively and constructively collaborated with the investigation, the CNMC is about to impose a fine of $530 million, the highest in its history.”

The company has assured to be “disappointed” with the CNMC’s Proposed Resolution and “in total disagreement with its conclusions.”