Paris Hotels Fined for Price Fixing

So this is why it can cost 700 euros to stay in a fancy French hotel. The Hôtel de Crillon, the Four Seasons Hôtel George V, the Hôtel Ritz, the Hôtel Plaza Athénée, the Hôtel Meurice, and Hôtel Le Bristol all colluded to inflate prices, according to Thomas Crampton’s story in today’s International Herald Tribune.

“The investigation showed regular exchanges of confidential information among the six hotels regarding their business and the elements necessary for their marketing plans,” the council, a government watchdog charged with stopping market collusion, said in a statement.

The fines for the hotels, which are all ranked by the Michelin travel guides at the highest level of luxury, five red stars, were levied in relation to the earnings of the hotels and the length of time they had been involved in price fixing.

They ranged from E248,000 for the Hôtel de Crillon to 55,000 for the Hôtel Meurice. The Hôtel George V was fined 115,000; the Hôtel Plaza Athénée, E106,000; the Hôtel Ritz, E104,000; and Le Bristol, E81,000.

Via Gridskipper.

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