Swiss price watchdog orders Booking.com to lower prices
ZURICH, May 21 (Reuters) - Switzerland's price watchdog has ordered Booking.com BKNG.O to lower its prices in the country, finding that the online travel agency's commission rates for hotels are "abusively high," the supervisory body said on Wednesday.
In accordance with the order, Booking.com must reduce its commission rates for Swiss hotels by almost a quarter, the watchdog said in a statement.
Booking.com vowed to appeal the decision and said its rates would not change until the appeal process was resolved.
"We don't agree with a forced reduction in the cost of a product that is entirely optional," it said in a statement.
The Swiss watchdog said the cost reduction must be implemented three months after the ruling becomes legally binding, and would remain in effect for three years.
Earlier this week the Spanish government ordered Airbnb ABNB.O to withdraw over 65,000 listings for holiday rentals which it said violated existing rules from its platform.
The step was part of a broader Spanish crackdown on tourism rentals via sites such as Airbnb and Booking.com, which critics blame for contributing to a housing crisis in the country.
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