The Swiss Competition Commission (COMCO), a regulatory body, has announced plans to review Dertour Group’s acquisition of Hotelplan Group.
Dertour, a European travel conglomerate, announced plans to acquire four brands operated under Hotelplan Group—Hotelplan Suisse, Hotelplan Volume Tour Operating, Hotelplan UK and Hotelplan Business Travel—in February.
COMCO is conducting the in-depth review of Dertour’s planned acquisition after initial investigations revealed concerns about a “dominant market position,” as the companies would become the largest tour operator in Switzerland.
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Together, Dertour and Hotelplan own more than 150 businesses, with the latest acquisition intended to bolster Dertour's presence in Switzerland, the United Kingdom and Germany.
“The in-depth review aims to clarify, among other things, whether travelers in Switzerland have sufficient alternatives available to them, such as self-booking directly with hotels and airlines or via online platforms, to counteract potentially rising prices. It will also examine the impact of digital travel offerings on current and potential competition in the markets,” COMCO said in a release.
In January, vacation rental marketplace HomeToGo announced plans to acquire vacation rental management company Interhome, a fifth subsidiary of Hotelplan Group, from Switzerland-based retail giant Migros.
Dertour’s acquisition and HomeToGo’s acquisition are subject to separate binding agreements, HomeToGo said in a release.
However, while HomeToGo and Interhome are not subject to COMCO’s review and HomeToGo has “received all necessary regulatory approvals,” neither deal can close until the regulator has approved Dertour’s transaction.
“Therefore, the review by COMCO is expected to delay the overall closing, including HomeToGo’s acquisition of Interhome. As a result, HomeToGo expects to close the acquisition latest within the next four months,” HomeToGo said.
The company noted that even with a delayed closing, the cash payment value for the Interhome acquisition is “fixed” thanks to a “locked box” mechanism.
Swiss regulators also just ordered Booking.com to slash commission rates for Swiss hotels by approximately 25%, ruling that the current rates are “excessive.”