Aug. 11 at 1:12 PM
Over 10,000 hotels in Europe have joined a class action lawsuit against Booking Holdings Inc.
$BKNG
The lawsuit claims that Booking used rate parity clauses (“best price clauses”) for around 20 years, preventing hotels from offering lower prices on their own websites or on other platforms.
💸 The financial implications of the class action for Booking Holdings Inc. are significant.
Hotels are seeking compensation for financial losses suffered over a 20-year period (2004–2024) due to Booking.com’s “best price” or “rate parity” clauses. It is estimated that claims in France alone could reach €1.5 billion, with the overall goal of the class action being to recover a substantial portion of the commissions paid to Booking.
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