📉 New EU Rules Criticized
Booking Holdings CEO Glenn Fogel has criticized the new EU rules that allow hotels to offer lower prices on their websites than on Booking, calling it a “competitive disadvantage.” Speaking at the Financial Times’ TNW technology conference in the Netherlands, he stated, “If the regulations are not fit for purpose, then you are at a competitive disadvantage.” Fogel emphasized his commitment to offering customers the best prices and described any regulation preventing this as "stupid." This strong stance highlights the tension between Booking and EU regulators.
🏢 Potential EU Exit
Fogel did not rule out the possibility of moving the $135 billion company's headquarters outside the EU due to increasing regulatory control. “I never say no to anything that is possible,” he said when asked about relocating. This threat follows multiple regulatory setbacks for Booking in the EU, including becoming the first company designated as an “online gatekeeper” under the Digital Marketplaces Act (DMA), which imposes additional burdens like avoiding self-promotion before competitors.
⚖️ Legal Battles and Fines
Booking has faced various legal challenges in the EU. Spain's antitrust authority imposed a provisional fine of €486 million in February for alleged anti-competitive behavior. Last year, Brussels blocked Booking’s €1.63 billion takeover of Swedish group Etraveli over competition concerns, a decision that contradicted the UK's approval. Booking has appealed to the EU courts in Luxembourg. These issues demonstrate the ongoing regulatory friction between Booking and EU authorities.
🌍 Future of Tech Regulation
Fogel's criticism comes as EU regulators prepare to challenge major US tech companies using new DMA powers. Actions against Apple, Google, and Meta are expected soon. Fogel urged the EU to create a favorable climate for technology leadership in Europe. “We were born here. We were born in the Netherlands. We have a great shop here. But I urge [the EU] to maintain that,” he said. The European Commission, however, defended the DMA, stating it ensures fair competition without placing restrictions on business customers.
Will Booking Holdings really leave the EU?
