Australian players fearful of Booking.com’s boom, Wotif’s weakness
Why did Australian regulators okay Expedia Inc’s $703 million acquisition of Wotif Holdings last October?Documents released on Tuesday explain their official reasoning.
At the core, the regulators were watchful of the rapidly growing domestic market share of Priceline Inc’sBooking.com, which, if left-unchecked, might become a quasi-monopoly.
In its investigation, the Australian Competition and Consumer Commission (ACCC) found that Booking.combecame Down Under’s most visited OTA website in 2014–overtaking the previous market leader Wotif.
Booking.com also lived up to its name by transacting the most global bookings made by Australians via online travel agencies (OTAs) last year.