当"天下苦携程久矣"这句话在酒店民宿商家间流传，携程在2025年先后被贵州省市场监管局、郑州市市 场监管局约谈，还被云南省旅游民宿行业协会、黄山市徽州民宿协会公开发函，启动了针对其不正当竞 争行为的反垄断维权工作。 2026年1月14日，国家市场监督管理总局依据《中华人民共和国反垄断法》（下称《反垄断法》），对 携程集团有限公司涉嫌滥用市场支配地位实施垄断行为立案调查。 一位接近监管部门的人士告诉经济观察报，此次的反垄断调查不局限于携程的酒店业务，还包括机票等 业务，以及是否存在大数据杀熟消费者等情况。 经济观察报调查发现，携程的佣金6年未涨，包括金字塔、云梯等收费玩法近两年也未发生变动，但商 家和携程的矛盾却愈演愈烈。 在携程推广的操作后台，一位成都民宿主把单次点击的报价出到了3.5元，系统给出的竞争力评分只有 7.9，满分是10分。后台提示：再涨3毛，预计7天可获曝光6455—8733次，点击781—1057次。 这位民宿主算了笔账：消费者点击一次，他就要掏三块多，一天烧掉几百元，一个月就是几千元。可停 掉推广，民宿曝光下降，入住率低，他还是亏。 多位云南民宿主反映，综合携程的特牌、云梯、金字塔等推广方式 ...

Core Viewpoint - Ctrip has faced increasing tensions with merchants despite its commission rates remaining unchanged for six years, leading to investigations into its market practices and potential antitrust violations [1][3]. Group 1: Commission Structure and Merchant Relations - Ctrip's commission costs for merchants have reached 30%-40%, with many merchants feeling they are working for the platform due to declining traffic and prices [2][3]. - The introduction of promotional tools like "Pyramid" and "Cloud Ladder" has increased the financial burden on merchants, with some reporting costs of several thousand yuan per month just for advertising [2][14]. - Merchants in Yunnan have reported that Ctrip's special label ("Te Pai") restricts their ability to sell on other platforms, leading to significant pushback against Ctrip's practices [5][8]. Group 2: Antitrust Investigations - Ctrip is under investigation by the National Market Supervision Administration for potential monopolistic behavior, which includes its hotel and flight booking services [3][18]. - The investigation may lead to penalties, including fines based on Ctrip's previous annual sales, which could be between 3%-4% of its revenue [19][21]. - The antitrust inquiry is expected to address whether Ctrip has abused its market dominance, particularly through practices that may harm competition [18][19]. Group 3: Market Dynamics and Competition - Ctrip's market share in the hotel and travel sector is projected to reach 56% by the end of 2024, significantly outpacing competitors like Meituan and Fliggy [18]. - The competitive landscape has intensified, with merchants reporting that the effectiveness of advertising has diminished as competition increases, leading to higher costs without guaranteed returns [13][14]. - The overall market for tourism in China is experiencing "involution," where excessive competition is driving down profitability for many operators [20]. Group 4: Future Outlook - Ctrip is focusing on international expansion to seek new growth opportunities, particularly in attracting foreign tourists to China [20][21]. - The company has committed to cooperating with regulatory investigations and aims to maintain its service quality for users and partners [21].