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IHG ‘infringed competition law’

 

The UK’s Office of Fair Trading has accused Expedia, Booking.com and InterContinental Hotels Group of infringing competition law.

The organisation made the accusation in relation to the online supply of room-only hotel accommodation by online travel agents. The OFT issued a Statement of Objections detailing the preliminary findings from its investigation into the...

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Tripadvisor drops after results

TripAdvisor saw its share price drop by 18% after releasing its second quarter results, as the market baulked on evidence of an international slowdown and rising costs.

The company, which has only been listed separately from former parent Expedia since December, sought to reassure investors with the news that the end of the second quarter had seen it pass 75 million reviews.

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Ctrip squeezed as competition grows

Ctrip reported a 55% fall in net profits “due to the intensified investments in product development and marketing campaigns” for the second quarter.

The company said that it was pursuing an increase in consumers and in particular in online transactions, at a time when it had also seen an increase in competition.

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Reputation manager secures USD14.5m

Reputation management product Revinate has raised USD14.5m in a series A round of funding, from Benchmark Capital and Formation 8.

The funding is a sign of confidence in the product, which describes itself as “the ultimate social media solution for hotels” and indicates how important reputation management is to the hotel sector.

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