This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Marriott Announces Plans To Transfer Business Services To Accenture; Accenture To Provide Finance And Accounting Services To Marriott; Accenture To Form Accenture Hospitality Services

BETHESDA, Md. and NEW YORK, June 19, 2013 /PRNewswire-FirstCall/ -- Leveraging the strengths of both organizations, Marriott International, Inc. (NYSE: MAR) and Accenture (NYSE: ACN) today announced plans for a strategic collaboration through which Marriott will transition the services provided by its Louisville, Tenn.-based Marriott Business Services (MBS) finance and accounting (F&A) unit to Accenture, and Accenture will provide F&A services to Marriott and its franchisees.

(Logo: http://photos.prnewswire.com/prnh/20130531/PH23900LOGO)

In conjunction with the collaboration, Accenture will create a new business service, Accenture Hospitality Services (AHS), built in part around the operations and capabilities coming from Marriott's MBS unit. Accenture Hospitality Services will provide management consulting, technology and business process outsourcing services to companies in the hospitality industry.

The plan includes the transfer of MBS and its associates to Accenture, and the Louisville operation, just outside of Knoxville, will become an Accenture center of excellence for finance and accounting business process outsourcing and provide those services to Marriott as part of AHS. The best-in-class capabilities from MBS will be combined with proprietary assets, business processes, and software, as well as analytics capabilities for the hospitality sector.

The arrangement is designed to provide Marriott's hotel owners with savings and benefits over a 10-year period comprised of lower costs for a range of business services that will be delivered by Accenture.

Carl Berquist, Marriott International's chief financial officer, said, "Our announcement will provide a new pathway to opportunities for our MBS business and associates. Capitalizing on both the foundation MBS has built since its inception in 2001 and Accenture's economies of scale, Accenture Hospitality Services will immediately be able to attract customers throughout the hospitality industry – something MBS could not do as a wholly-owned subsidiary of Marriott.   AHS will also benefit from Accenture's substantial resources, including people, marketing systems and process management, to enhance operations and attract Accenture customers across other industries, generating even more growth opportunities."

Paul Loftus, global managing director of Accenture's Hospitality Industry Group said, "By combining the world-class financial processes developed by MBS with Accenture's scale and cross-industry expertise, Accenture will create a new business service to help lodging and hospitality companies better target strategic outcomes, achieve greater agility and drive new growth areas. We look forward to offering new career opportunities for MBS associates as we develop and grow AHS."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs