The Marketplace By Marriott Inaugurates One-Stop-Shopping for Procurement Needs
WASHINGTON, Oct. 28 / "The Marketplace by Marriott," the new business launched by Marriott International, Inc.
The inaugural agreements by the Marketplace include new programs for quick printing, office supplies, plumbing and maintenance supplies and bottled water in addition to the thousands of programs already offered with such major preferred vendors as Ecolab, Pepsi, and Uniforms to You.
The Marketplace, developed and engineered over 18 months, leverages Marriott's nearly $5 billion yearly procurement power to provide hotel owners and franchisees, as well as other business managers, with greatly reduced procurement costs, simplified procurement methods, high-quality and innovative goods and services, and both sophisticated sourcing and customer service capabilities.
Dennis Baker, executive vice president and general manager for the Marketplace, said, "Harnessing our company's substantial buying power, the Marketplace will establish preferred supplier relationships and negotiated contracts that should reduce total procurement costs and enable Marriott to offer high-quality and highly efficient products and services to our clients at more competitive prices. The Marketplace is a new kind of purchasing organization, that is customer-focused, value-driven and technology-enabled in support of our vision to offer our owners and franchisees total purchasing solutions."
According to Baker, the Marketplace intends to announce later this fall a cutting-edge Web-based procurement tool that will enable Marketplace customers to streamline their procurement processes and trim costs.
Karen Blair, senior vice president of sales and marketing for the Marketplace, said, "Organized around a structure that mobilizes 'commodity teams' which will extensively review every commodity or service a business requires, the Marketplace delivers a holistic approach to procurement that allows managers to serve their customers, not struggle with procurement issues."
Blair explained that beyond traditional commodities and services typically provided by suppliers, the changing economy drives new opportunities for the Marketplace to add value to strategic procurement considerations.
"In California, we are testing making energy available to hotels through the Marketplace. This is an innovative strategic service that, until the regulatory environment changed recently, would not have been possible, and that could result in significant cost savings for owners and franchisees," said Blair.
Blair added that the Marketplace will leverage relationships with suppliers to bundle products and services provided to all hotels, including credit card services, insurance, and sanitary services.
For more information regarding the Marketplace's inaugural national promotion, businesses may call toll-free 1-877-TO-MARKET.
MARRIOTT INTERNATIONAL, INC. is a leading worldwide hospitality company, with over 1,700 operating units in the United States and 53 other countries and territories. Major businesses include hotels operated and franchised under the Marriott, Ritz-Carlton, Courtyard, Residence Inn, Fairfield, TownePlace Suites, SpringHill Suites, Renaissance, and Ramada International brands; vacation club (timeshare) resorts; senior living communities and services; and food service distribution. The company is headquartered in Washington, D.C. and has approximately 131,000 employees. In fiscal year 1997, Marriott International reported total sales of $9.0 billion.
Note: This press release contains "forward-looking statements" within the meaning of federal securities law, including statements concerning business strategies and their intended results and similar statements concerning anticipated future events and expectations that are not historical facts. The forward-looking statements in this press release are subject to numerous risks and uncertainties, including the effects of economic conditions; supply and demand changes for hotel rooms, competitive conditions in the lodging industry; relationships with clients and property owners; the impact of government regulations; and the availability of capital to finance growth, which could cause actual results to differ materially from those expressed in or implied by the statements herein.
Tom Marder
+1 301 380-2553
