Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Marriott International Inc    

News SummaryMost relevantAll newsSector news 

Marriott Transferring Business Services to Accenture

share with twitter share with LinkedIn share with facebook
share via e-mail
06/19/2013 | 05:46pm CEST
   By Melodie Warner 

Marriott International Inc. (>> Marriott International Inc) agreed to transfer its Marriott Business Services unit to Accenture PLC (>> Accenture Plc), which in turn will provide finance and accounting services to Marriott and its franchisees.

The companies expect to start the transition in August with the full move being largely complete by early September. Further terms weren't disclosed.

Marriott said the consulting company Accenture will create a new business service--called Accenture Hospitality Services--built in part around the operations and capabilities coming from Marriott's Louisville, Tenn., operation.

Marriott, which operates the Courtyard, Renaissance, Ritz-Carlton and Fairfield brands as well as its namesake hotels, said the arrangement will provide savings and benefits to its hotel owners over a 10-year period by lowering costs for a range of business services that will now be delivered by Accenture.

Marriott's earnings have benefited from growing demand from corporate travelers in the U.S. and low hotel supply growth. The company has become increasingly dependent on international markets because of stalled construction of new hotels in the U.S.

Meanwhile, Accenture, which competes for global enterprise consulting contracts with tech giants like International Business Machines Corp. (>> International Business Machines Corp.) and Hewlett-Packard Co.(>> Hewlett-Packard Company), has mostly posted earnings growth for over two years thanks in part to strong revenue growth in its outsourcing business.

Write to Melodie Warner at melodie.warner@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
React to this article
05/02 RENAISSANCE HOTELS : Adds to its Impressive Paris Portfolio with the Launch of R..
05/02 MARRIOTT : Luxury Hotel in Doha, Qatar Launches Hot Summer Deals
05/02 MARRIOTT : Dur Hospitality, Marriott invest SR87m to build residence inn in Yanb..
05/01 MARRIOTT : Dur Hospitality Co. announces the signing of a franchise agreement wi..
04/29 MARRIOTT : Colorado Springs Marriott celebrates renovation
04/29 MARRIOTT : The Ritz-Carlton Hotels Of Asia Set To Change More Lives With A Milli..
04/29 TRAVELERS HAVE SPOKEN : Marriott Rewards Wins Hotel Program of the Year
04/28 MARRIOTT : An Application for the Trademark "BIZCAYA" Has Been Filed by Marriott..
04/28 MARRIOTT : Launches Third M Live Studio, the Company's Global Marketing Real-Tim..
04/28DJU.S. GDP Growth Falters Amid Business Caution -- 3rd Update
Income Statement Evolution
More Financials