China's market regulator said on Saturday it had fined and confiscated a total of 5.2 billion yuan ($770 million) from Trip.com Group (9961.HK) for abusing its dominant position in the domestic online hotel-booking market.
Reuters – Trip.com, China's largest online travel platform, used traffic-allocation mechanisms, platform rules and technical measures to strike exclusive deals with some hotels as it sought to offer the lowest prices, the regulator said.
Trip.com, owner of travel-booking brands Ctrip, Skyscanner and Qunar, said: "We sincerely accept and will fully comply with it, and will strictly follow the regulator's requirements to systematically implement each rectification measure, ensuring that all measures are carried out effectively."
