COMCO Launches Review of Dertour’s Hotelplan Acquisition

Switzerland’s Competition Commission (COMCO) has launched an in-depth investigation into Dertour Group’s proposed acquisition of Hotelplan Group, citing concerns over potential market dominance. Dertour, one of Europe’s leading travel conglomerates, announced in February plans to acquire four major brands under Hotelplan—Hotelplan Suisse, Hotelplan Volume Tour Operating, Hotelplan UK and Hotelplan Business Travel.

COMCO’s preliminary findings raised red flags, noting that the combined entity would become Switzerland’s largest tour operator. The regulator aims to assess whether Swiss travelers will still have adequate booking alternatives—such as direct hotel and airline bookings or online platforms—to counteract potential price hikes. The review will also evaluate how digital travel offerings influence competitive dynamics in the market.

Dertour and Hotelplan collectively operate more than 150 travel-related businesses across Europe. The acquisition is part of Dertour’s strategy to strengthen its footprint in Switzerland, the UK and Germany.

The ongoing regulatory scrutiny is also affecting an unrelated deal. In January, vacation rental platform HomeToGo announced its intent to acquire Interhome, another Hotelplan subsidiary, from Swiss retailer Migros. Though this transaction has received all necessary regulatory approvals, its finalization depends on the completion of Dertour’s acquisition, due to shared contractual timelines.

HomeToGo expects the Interhome deal to close within four months, despite delays. The deal’s price is safeguarded under a “locked box” mechanism, ensuring a fixed cash value regardless of the timeline.

In a related development, COMCO recently ruled against Booking.com, mandating a 25% cut in commissions charged to Swiss hotels, calling current rates “excessive.”

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COMCO Launches Review of Dertour’s Hotelplan Acquisition

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