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Friday, Aug 9
IHG offers to allow Web sites some ability to cut room prices
- InterContinental Hotels Group (IHG) offers to allow travel Web sites such as Expedia (EXPE) and Priceline's (PCLN) Booking.com to lower room prices for certain types of customers, such as those who are members of loyalty schemes or have used the sites before.
- IHG makes the proposal after the U.K.'s Office of Fair Trade Trading (OFT) last year accused the hotel group of persuading Web sites not to cut tariffs to below those that IHG offered.
- Other companies to be affected include Orbitz (OWW).
- The OFT is now studying IHG's proposal. Shares are -1.4% in London.