Booking's Etraveli Deal Blocked, Giving Expedia an M&A Edge
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The ruling sets a regulatory boundary for European travel M&A: deals where a dominant player acquires a low-margin acquisition channel to reinforce its core market may be blocked. For corporate travel buyers, this could mean diverging consolidation paths among OTAs and B2B distribution, with competitors such as Expedi…
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- Skift FeedBooking's Etraveli Deal Blocked, Giving Expedia an M&A Edge
Europe's General Court upheld a 2023 decision prohibiting Booking Holdings' roughly €1.63 billion ($1.9 billion) acquisition of Etraveli, the Swedish flights specialist and Booking partner. The court reasoned that flight bookings are a low-margin customer-acquisition channel that feeds travelers into Booking's high-margin hotel business, reinforcing its grip on the core market where the European Commission found it has a dominant position. Meanwhile, Expedia Group acquired Tiqets and Cartrawler this year to strengthen its B2B partner business, while Booking has fewer M&A options in Europe. The ruling affects the wider M&A scene in European travel and other sectors.