Trip.com Fined By SAMR For Online Hotel Booking Abuses

(RTTNews) - Trip.com Group Limited (TCOM, 9961.HK) announced that it has received the administrative penalty decision issued by the State Administration for Market Regulation (SAMR) of the People's Republic of China.

According to several reports, SAMR fined Trip.com nearly ¥5.2 billion or approximately $765 million for abusing its dominant market position in online hotel bookings. The penalty includes the confiscation of illegal gains, a fine, and refunds to hotel operators.

Trip.com stated that it accepts the decision and will adopt rectification measures in line with applicable laws and regulations. The company emphasized its commitment to strengthening long-term governance mechanisms and contributing to the sustainable development of the travel industry.