Competition Probe Targets Marriott's STR Data Platform, Risks 10% Turnover Fines
UK CMA has launched a formal investigation into Marriott's anti-competitive pricing via the STR data platform, examining if CoStar's shared analytics breached Competition Act 1998 and risking fines up to 10% of global turnover. Meanwhile, 111 Capital acquired 2,991 Marriott shares worth about $779,000, signaling modest institutional interest.
1. UK Competition Regulator Opens Formal Probe
The UK’s competition authority has launched a formal investigation into whether Marriott, Hilton and IHG used CoStar’s STR data platform to share occupancy and average daily rate information that could diminish competitive uncertainty. The probe assesses compliance with the Competition Act 1998 and could lead to fines up to 10% of global annual turnover if anti-competitive conduct is confirmed.
2. Institutional Stake Increase
In its recent Form 13F filing, 111 Capital disclosed a new position of 2,991 Marriott shares valued at approximately $779,000. This acquisition reflects modest institutional interest alongside similar purchases by other large investors during the period.