UK CMA Probes Hotel Chains, CoStar

The United Kingdom===Competition and Markets Authority (CMA) in the United Kingdom has launched an investigation into Hilton Worldwide, Marriott International, IHG Hotels & Resorts, and CoStar Group. The probe focuses on suspected sharing of competitively sensitive information among the hotel chains through CoStar Group's data analytics tool, STR. The CMA is concerned that such data sharing could reduce competition by allowing rival businesses to predict and coordinate their behavior and pricing. While no assumptions about law-breaking have been made, the investigation is part of the CMA's broader effort to ensure new technologies, like pricing algorithms, support fair competition and do not harm consumers. IHG Hotels & Resorts's shares saw a decline following the announcement, and both IHG Hotels & Resorts and CoStar Group have stated their intention to cooperate with the inquiry.