Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Marriott International Inc       US5719032022

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Marriott Transferring Business Services to Accenture

06/19/2013 | 11:46am US/Eastern
   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

React to this article
Latest news on MARRIOTT INTERNATIONAL INC
03/29 MARRIOTT : Reports Water Conservation Results
03/28 MARRIOTT : Autograph Collection Hotels Introduces Kameha Grand Zurich
03/28 MARRIOTT : Hotels in Florida Offering Promotion on Summer Stays
03/27 MARRIOTT : Sets Release Date For First Quarter 2015 Earnings
03/27 MARRIOTT : Traveler Launches at Traveler.Marriott.com
03/27 HILTON WORLDWIDE : Hotel bid process seen as ripe for collusion
03/26 MARRIOTT : The spirit to serve
03/26 MARRIOTT : The Ritz-Carlton Dubai International Financial Centre to Engage Ritz ..
03/26 MARRIOTT : An Application for the Trademark "MASTER THE LONG TRIP" Has Been File..
03/26 MARRIOTT : Guests Make A Difference At The Ritz-Carlton For Earth Hour 2015
Advertisement
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF