Antitrust Investigation Targets Asia’s Travel Titan, Trip.com
China’s State Administration for Market Regulation has initiated a formal antitrust investigation into Trip.com Group, the largest online travel platform in Asia. The probe focuses on allegations of market dominance abuse and engagement in monopolistic practices by the company.
The announcement of the investigation on January 14, 2026, led to a nearly 20% drop in Trip.com’s Hong Kong-listed shares in a single day. This marked the worst performance of the stock since its listing in April 2021. Trip.com, which operates platforms such as Ctrip, Skyscanner, Qunar, and Travix, holds over 70% of China’s online travel agency market, sharing dominance with its rival, Tongcheng.
Analysts suggest that the investigation is primarily based on complaints from smaller travel businesses. These complaints revolve around predatory pricing practices, forced exclusivity clauses, and arbitrary commission fee increases. Hotels in regions like Zhejiang province have reported decade-low nightly rates due to Trip.com’s frequent discount campaigns.
The timing of the investigation is particularly noteworthy, as it comes just weeks before the Spring Festival holidays. This is a period when millions of Chinese travelers are expected to book trips. Trip.com has stated that it will “actively cooperate” with the investigation while maintaining normal business operations. Under China’s anti-monopoly law, companies found guilty could face fines ranging from 1% to 10% of their annual revenue.
Source: CNBC