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Together, these two hotels would highlight a shift that was occurring, as an increasing number of people began to travel more, for a variety of reasons.
What accounting firm audited its financial statements?
Both companies are currently using KPMG to audit their financial statements. ("Sonic, Hilton Hotels and Sbarro ax Anderson Firm," 2002) This is important, because it shows how both organizations are trying to provide as much transparency as possible, by having an accounting firm that can respond to their needs. In many ways, the selection of them as their auditor is a testament to this commitment. Evidence of this can be seen back in 2002, when Host Marriot hired KPMG as their auditor. At the time they were using Arthur Anderson. Given the transparency issues of the accounting firm, meant that the company would have to find one that could provide increased transparency. This is significant, because the selection of KPMG shows the commitment of both companies to transparency. ("Host Marriot Annual Report," 2004)
Clearly, both Host Marriot and Hilton Hotels plays a major role within the hospitality industry. As each chain, is competing for the same demographics of customers...
This is important, because this focus can be seen in the companies themselves, with them owing a number of different properties, to reach out to business and leisure travelers. Where, each one was established to address these evolving needs during the 20th century and they have the same independent auditor. This is significant, because it shows the commitment that both organizations have, to provide the best service to their customers, while evolving with the changes in the industry. Therefore, both companies play a unique role in the hospitality industry because of these variables.
Bibliography
About U.S.. (2010). Hilton Worldwide. Retrieved from: http://www.hiltonworldwide.com/aboutus/index.htm
Host Marriot Annual Report. (2004). Host Marriot. Retrieved from: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzQzMDkyfENoaWxkSUQ9MzI5NjM4fFR5cGU9MQ==&t=1
Marriot International. (2010). Yahoo. Retrieved from: http://finance.yahoo.com/q/pr?s=MAR+Profile
Sonic, Hilton Hotels and Sbarro ax Anderson Firm. (2002). BNET. Retrieved from: http://findarticles.com/p/articles/mi_m3190/is_25_36/ai_8791789/
Bibliography
About U.S.. (2010). Hilton Worldwide. Retrieved from: http://www.hiltonworldwide.com/aboutus/index.htm
Host Marriot Annual Report. (2004). Host Marriot. Retrieved from: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzQzMDkyfENoaWxkSUQ9MzI5NjM4fFR5cGU9MQ==&t=1
Marriot International. (2010). Yahoo. Retrieved from: http://finance.yahoo.com/q/pr?s=MAR+Profile
Sonic, Hilton Hotels and Sbarro ax Anderson Firm. (2002). BNET. Retrieved from: http://findarticles.com/p/articles/mi_m3190/is_25_36/ai_8791789/
As tourism would surpass rice exports, in being the number one product or service that the nation provides. This has helped the industry to grow, with various tourists from around the globe going to these destinations and then talking about their trips when they return home. Over the course of time, this has caused many of these new travel destinations to increase dramatically in popularity. The information from this
The following Table labeled Table 1.0 shows the Direct Competition Comparison in the industry sector of Marriott International, Inc. Table 1 Marriott International is known for being creative and especially so in relation to the IT dollar. In a report entitled "The Keys to Marriott's Success" stated is that "Marriott and its IT department have documents and system, policies and procedures and even history and philosophy to guide their decisions frees
National corporations own many chains, even though several others are independently owned but affiliated with a chain through a franchise agreement. Types of Hotels The U.S. Department of Labour (2004) denotes five basic types of hotels: Commercial - These hotels operate year round and are primarily located in cities or suburban places. The larger properties offer an assortment of services for their guests, such as coffee shops, restaurants, cocktail lounges, gift shops,
High-road competition focuses on service quality (Working for America Institute 2004), which means developing property in prime locations and the regular upkeep and upgrade of property. Hotels using high-road competition charge high room rates but provide top-class amenities, satisfying customer service and on-site attractions, such as restaurants, lounges, conference sites, gift shops and concierge service to attract customers and incline them to spend. Upper segments are likelier to engage in
technology has evolved a great deal, thus resulting in an increase in media freedom and globalization. Moreover, human life in the post information technology has become much faster paced than ever before. Ever since the human civilizations had established, man is looking for ways to relax oneself physically and mentally. Over a period of time the market for leisure and tourism had gain much strength due to increasing demand
Another strategy companies often rely on are franchising their operations to attain economies of scale and global growth at the same time (Altinay, 2007). Franchising however has significant risk as it requires a high degree of branding consistency and brand enforcement over time (Altinay, 2007). Any expansion strategy has a direct implication on a company's value chain. A merger, acquisition, alliance or joint venture can completely re-define the value chain