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UPDATE 1-Hungary fines Booking.com operator $7.6 mln for unfair practices [Reuters]
Last booking holdings inc. earnings: 2/26 04:04 pm
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UPDATE 1-Hungary fines Booking.com operator $7.6 mln for unfair practices (Adds Booking.com response) BUDAPEST, April 28 (Reuters) - Hungarian competition watchdog GVH has fined online reservation operator Booking.com 2.5 billion forints ($7.58 million) for unfair business practices, including misleading advertisements and psychological pressure on consumers. The watchdog said in setting the fine it had taken into account the Netherlands-based company’s fee income from the Hungarian market following a probe into the website launched in 2018. “Booking.com B.V. has led unfair business practices by misleading advertisements claiming free cancellation for some accommodation as well as by exerting aggressive psychological pressure to facilitate faster bookings,” the GVH said. A Booking.com representative said in an email response to Reuters that the company was “disappointed by this decision by the Hungarian Competition Authority.” “Everything on our website, including how we display price
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