Spain imposed a record fine on Booking.com for a monopoly on the market

The Spanish antimonopoly authority (CNMC) fined the online travel agency Booking.com a record 413 million euros for abusing its monopoly position in the market. This is the largest fine imposed in Spain for violating antitrust laws.

According to Euractiv, Booking.com has dominated the Spanish market for the past five years, securing between 70% and 90% market share. This level of monopoly has negatively affected competition, making it difficult for other online agencies to enter the market and expand.

Spanish antitrust regulators said that because of Booking.com's dominance in search engines and its high ranking on the platform, other companies had difficulty gaining visibility and expanding. This, according to the CNMC, significantly limited competition and choice for consumers.

Booking.com is also the leading player in Europe with a market share of over 60%. In May of this year, the European Union included the company in the list of large digital companies subject to stricter competition rules. Brussels said the increased regulation of Booking.com aims to provide more choice for consumers and create more opportunities for hotels.

According to the new EU rules, this situation should lead to improved competition in the online booking market, which in turn should have a beneficial effect on users, who will have more options to choose from. In addition, hotels will have more chances to promote their services.

Thus, the fine imposed on Booking.com is not only a record for Spain, but also marks an important step in the fight against monopoly in digital markets, which has a significant impact on market conditions in Europe and beyond.