Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Sunday, Jan 29, 2023

Tour agency, hotel face HK$5.77m fine over travel services price-fixing case

Tour agency, hotel face HK$5.77m fine over travel services price-fixing case

A hotel company and a travel agency were ordered to pay HK$5.77 million in fines over a travel services price-fixing case, while a former Travel Industry Council (TIC) chairman involved was banned from being a director of any company for three years.
The probe was originally initiated by the Competition Commission while the hotel company Tak How Investment Ltd - trading as Intercontinental Grand Stanford HK - entered into a settlement with the agency Gray Line Tours of HK Ltd, the director of which was TIC’s former chair Wu siu-ieng.

The two sides admitted liability for their contravention of the Competition Ordinance as the two rival travel service providers fixed prices of tourist attractions and transportation tickets sold at various hotels between May 2016 and May 2017.

They then, alongside the commission, filed a joint application to the Competition Tribunal to dispose of the proceedings by consent.

The tribunal on Thursday ordered Gray Line and Tak How to pay pecuniary penalties of HK$4.17 million and HK$1.6 million, respectively, with the commission’s investigation and litigation costs covered.

Their penalties have been discounted by 25 and 20 percent, respectively, for their admissions of infringing conduct and cooperation during the investigation.

Meanwhile, the tribunal has ordered that “Wu be disqualified from acting as a director in any company for three years,” according to a statement.

“Proceedings are ongoing for two undertakings, namely Harbour Plaza 8 Degrees Limited and Harbour Plaza Hotel Management Ltd; and Prudential Hotel (BVI) Ltd,” it continued.

The commission welcomed the tribunal’s orders, which represent a significant outcome in the enforcement of the ordinance.

The commission added it is the first case where the commission resolved an enforcement action by way of consent based on its Cooperation Policy.
Newsletter

Related Articles

Hong Kong News
Close
0:00
0:00
China is opening up for foreign investors.
Tesla reported record profits and record revenues for 2022
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
China relaxes 'red lines' on property sector borrowing in policy pivot
Tesla slashes prices globally by as much as 20 percent
Japan prosecutors indict man for ex-PM Shinzo Abe murder
Vietnam removes two deputy PMs amid anti-corruption campaign
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
China’s recovery could add 1% to Australia’s GDP: JPMorgan 
Saudi Arabia set to overtake India as fastest-growing major economy this year 
China vows to strengthen financial support for enterprises: official
International medical experts speak out against COVID-19 restrictions on China
2 Billion People To Travel In China's "Great Migration" Over Next 40 Days
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
Flight constraints expected to weigh on China travel rebound
Billionaire Jack Ma relinquishes control of Ant Group
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
Teslas now over 40% cheaper in China than US
TikTok CEO Plans to Meet European Union Regulators
UK chaos: Hong Kong emigrants duped by false prospectus
China seeks course correction in US ties but will fight ‘all forms of hegemony’, top diplomat Wang Yi says
China will boost spending in 2023
African traders welcome end of China’s Covid travel curbs
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Will Canada ever become a real democracy?
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Coinbase to Pay $100 Million in Settlement With New York Regulator
Preparations begin for Spring Festival travel rush
Domestic COVID-19 drug effective in trial
HK to see a full recovery, John Lee says in New Year message
Bargain hunters flock to last day of Hong Kong brands and products expo
Hong Kong aims for January 8 reopening of border with mainland China
Chinese Revenge Travelers Will Steer Clear of a Hostile US
FTX assets worth $3.5bn held by Bahamas securities regulator
2023 Will Be the Year of the Electric SUV
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
×