Digital travel agency Booking.com said Thursday it risks a record $530 million fine from Spain’s competition regulator.
The National Commission for Markets and Competition (CNMC) in Spain launched an investigation into the company in 2022 for alleged anti-competitive practices.
Now, according to a draft CNMC decision, the firm could receive a $530 million penalty, which would be the highest imposed by this body, according to Booking.
“We are disappointed with the CNMC’s draft decision and strongly disagree with its conclusions,” the company said in a statement.
“We intend to appeal this unprecedented decision if it becomes final,” he added.
Booking.com, a Netherlands-based company that dominates the world of online hotel bookings, is a subsidiary of U.S.-based Booking Holdings Group.
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