InterContinental Hotels Group Plc (IHG: Quote,IHG.L) noted that the Office of Fair Trading, or OFT, issued a statement of objections detailing its preliminary findings from its investigation into the hotel online booking sector.
The company considers its arrangements with the online booking agents to be compliant with competition laws and consistent with the long-standing approach of the global hotel industry. InterContinental Hotels added that it is cooperating fully with the OFT's investigation, which began in 2010.
According to InterContinental Hotels, the statement of objections is the OFT's provisional findings only. All parties will now have the opportunity to respond to the statement before the OFT decides if competition law has in fact been infringed, the company noted.
Click here to receive FREE breaking news email alerts for Intercontinental Hotels Group PLC and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org