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Despite hotelier fears, Expedia gets Wotif takeover green light
Expedia’s proposed takeover of online travel company Wotif.com has finally been given the go-ahead by the Australian Competition and Consumer Commission, despite concerns by the hotel industry.
Hotels and other accommodation operators had expressed worries that the deal will ultimately result in higher commission rates.
ACCC chairman Rod Sims had noted the concerns but said: "the ACCC found that there has been considerable change in the competitive dynamics of the online accommodation distribution market in recent years."
"This has included new entry by a number of competitors and business models, including Booking.com, which has grown quickly to become the largest in Australia," Sims said.
Wotif and Expedia follow close behind to make up the second and third largest OTAs operating in Australia.
Sims said the acquisition of Wotif.com by Expedia was unlikely to monopolize the market because of "disruptive developments" from smaller online travel agents and metasearch providers.
"For these reasons, the ACCC concluded that the proposed acquisition was not likely to result in a substantial lessening of competition."
Expedia now has the green light to complete its $703 million deal which is still subject to approval by Wotif shareholders.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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