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IHG CEO Richard Solomons demands regulation on online companies

In an interview with The Sunday Telegraph ahead of the World Economic Forum in Davos next week, IHG CEO Richard Solomons has pointed out that the current regulatory regime of treating online companies as a different kind of entity than traditional businesses makes little sense.Solomons takes AirBnB as one example, questioning the logic of not applying the same taxes and regulations as those hoteliers must cope with: "If you are paying somebody for a service and that service is sold as a major operation, it's becoming a big business then why would different standards apply"?"Governance and regulation needs to treat online businesses the same way as existing businesses so that existing businesses are not put at a disadvantage", Solomons says.

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