NORWALK (dpa-AFX) - Booking.com, an operating business of The Priceline Group (PCLN), said it would amend its parity terms with all accommodations partners in Europe by July 1 to be consistent with the binding commitments given to the French, Italian and Swedish National Competition Authorities or NCAs in April.
The decision is in line with the company's commitment to a new Europe-wide standard to keep competition healthy, driving value for consumers and hoteliers.
Booking.com said the decision is a direct result of feedback from many European NCAs indicating they would welcome Booking.com implementing the commitments in their jurisdiction.
Under the new provisions, Booking.com will abandon its price, availability and booking conditions parity provisions with respect to other online travel agencies. This will create an environment that supports increased transparency and competition among online travel agencies which will ultimately benefit consumers and hoteliers.
Booking.com will retain its 'narrow MFNs' for prices and booking conditions. This will ensure hotels offer the same rates and booking conditions on Booking.com as they do through their own direct website, to ensure that Booking.com can continue to be a cost-effective marketing channel for partners and deliver transparency, choice and great prices for consumers.
Under these new conditions, Booking.com can continue to provide a valuable service to consumers that delivers transparency, access to information, choice, value.
It can provide a valuable service to hotels by providing highly cost-effective marketing to help hotels promote their properties around the world, reach new subsets of travelers and fill their rooms to keep their businesses growing.
Copyright RTT News/dpa-AFX