CoStar, Hotels Slam Consumer Room Pricing Lawsuit – Reuters
Commercial real estate information giant CoStar (CSGP.O), and a group of high-end hotels have asked a U.S. judge to dismiss claims that they improperly shared data to keep room prices artificially high, calling the case “fanciful.”
CoStar and six hotel operators including Hilton (HLT.N), Hyatt (H.N), and Marriott (MAR.O), said in their Seattle federal court filing, on Friday that there was no evidence that they conspired to fix prices.
CoStar, Hilton, Hyatt and Marriott either had no immediate comment or did not immediately respond to requests for comment, and neither did an attorney for the consumer plaintiffs.The defendant hotels shared prices, supply and future plans, allowing participating companies to use rivals’ strategic information to inflate prices in Washington, D.C., San Francisco, New York, Nashville, Chicago, Boston, Austin and other cities, according to the lawsuit.
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