Reuters, Amsterdam: As on Thursday, Booking.com, a website that makes hotel reservations, must adhere to stringent EU rule after being named a “gatekeeper” under the Digital Markets Act in May, according to the European Commission.
According to the New EU Rule, Booking must abide by the Digital Markets Act
The Awadh Times: One of the strictest laws aimed at limiting the market dominance of digital companies is the Digital Markets Act (DMA), which places greater pressure on them to control content, provide fair competition, and facilitate service switching for customers.
Booking said that after “intense efforts” throughout its operations, it was fully compliant with the new EU rule & regulations.
In a blog post, the business stated, “We are confident that our compliance solutions satisfy the requirements of the DMA and deliver the experience that both travelers and our partners expect of us.”
It stated, “We are still dedicated to carrying on the fruitful dialogue with the European Commission and interested parties.”
Companies that provide a primary platform service for corporate users and have a market capitalization of 75 billion euros ($79 billion) and more than 45 million monthly active users are designated as gatekeepers by the DMA.
The Commission has the authority to punish a gatekeeper up to 10% of the company’s total global revenue for violating the DMA; in the event of repeated violations, the fine may reach 20%. It has the power to restrict takeover activities as well.
$1 is equivalent to 0.9520 euros.
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