TOKYO -- The Japan Fair Trade Commission plans to issue warnings to 15 major operators of hotels in Tokyo, including prestigious names like New Otani and Imperial Hotel, for sharing room rates in a possible violation of anti-monopoly rules, Nikkei learned on Wednesday.
Hotel rooms are in tight supply in Japan due to the sharp increase in foreign tourists. As room rates continue to rise, the practice of exchanging information among managers at major facilities could lead to a cartel-like situation where they piggyback price hikes off one another. The JFTC, Japan's antitrust watchdog, will urge them to correct the practice as soon as possible.
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