Merger of Hvaleyrar hf. and Bus Hostel ehf.

The Competition Authority has been reviewing the merger of Hvaleyri hf. and Bus Hostel ehf. Hvaleyri hf. is a subsidiary of Pac1501 ehf., which is wholly owned by Horn III slhf. Hvaleyri's business is to manage properties related to the operations of Pac1501 ehf.'s subsidiaries, which operate in the market for passenger transport by coach. The business of Bus Hostel ehf. consists of operating two hotels in Reykjavík. The company estimates that it holds an 1% share of the total hotel accommodation in the capital region, which they estimate to be around 10,500. The investigation by the Competition Authority revealed that this constitutes a so-called merger of undertakings, and there is no reason to believe that the resulting concentration in the defined markets of this case could give rise to competition concerns. Furthermore, there is no reason to believe that competition will be significantly impaired in any other respect. Following an investigation, the Authority has concluded that there is no reason to take action regarding this merger under Article 17 of the Competition Act No. 44/2005.