Booking to appeal $530 million fine imposed by Spanish regulator

28-02-24

Booking Holdings CEO Glenn Fogel said the company "couldn't disagree more" with a draft decision by Spanish regulators that alleges Booking.com has violated Spanish competition laws and should be fined $530 million.

With a noticeable tone of frustration, Fogel defended the company's biggest brand, saying Booking.com provides a marketplace that allows hotels and partners to attract travelers "from around the world at a lower cost than many other marketing channels."

"We could not disagree more with this draft decision and the arbitrarily large fine they have proposed, which is completely disproportionate to the alleged conduct," Fogel said on a call with financial analysts to discuss the company's fourth-quarter and full-year 2023 financial results. "Should the draft decision become final, we plan to appeal."