Bass Hotels & Resorts [LON:BAS, NYSE:BAS (ADRs)] has joined Marriott International, Inc. (NYSE:MAR), Hyatt Hotels Corporation and ClubCorp USA Inc. in the launch of the newly named Avendra LLC. Avendra will be the largest Internet-enabled business-to-business hospitality procurement company in the world and is poised to provide an $80 billion hospitality market with ready-made pathways to thousands of products and services that deliver superior pricing, quality and service. Together, the founders manage or franchise more than 5,500 properties worldwide.
“We are delighted that a company with the stature and scope of Bass, with leading brands like Holiday Inn and Inter-Continental Hotels, is joining Avendra,” said Dennis Baker, president and chief operating officer of Avendra LLC.
Ravi Saligram, executive vice president and chief marketing officer for Bass Hotels & Resorts, said, “Joining Avendra will provide significant opportunities for Bass to drive process efficiencies by impacting the entire supply chain and leveraging a superior e?procurement technology platform. The alliance of these major companies provides critical mass that will help drive standardization, improve economies across the supply chain and offer better consumer value. We believe this will be of significant benefit for both our owned and managed hotels and franchisees.”
“Avendra is a customer-centric company,” said Brian Weed, executive vice president of marketing, development and strategy, for Avendra. “Our customers have told us they want to access Avendra`s superior vendor programs how, when and where they choose - whether by phone, fax, in person or on the Internet.”
He continued, “Avendra is not a virtual company. Through its founders, Avendra begins procurement operations in North America and the Caribbean with a proven track record, leveraging our enormous industry expertise with a leading technology platform.”
In developing an identity for the new company, Marriott, Bass, Hyatt and ClubCorp focused on a concept that conveyed the combined strength of proven procurement and vendor relationships with an e-enabled B2B technology platform powered by GoCo-op, a leading Internet technology provider based near Orlando, Fla.
Said Baker, “Extensive research involving current customers, new market segments, owners and managers led us to select the name Avendra as representing the aggressive and dynamic business goals of our new company. Avendra signifies the concept of offering customers and suppliers multiple avenues to successful, strategic vending and purchasing relationships.”
Marriott, Bass, Hyatt and ClubCorp continue to migrate their procurement businesses to Avendra, which will be formally launched later this year. The company will be headquartered in Montgomery County, Md., just outside of Washington, D.C., with regional offices in Atlanta, Chicago, Dallas and other key markets. Avendra will have an initial staff of more than 100.
AVENDRA LLC is an e-enabled strategic supplier of business-to-business procurement solutions for the hospitality and related industries. Created through the contribution of The Marketplace by Marriott, the procurement business of Marriott International, Inc.; Rosemont Purchasing, from Hyatt Hotels Corporation; ePurchase.net, from ClubCorp USA Inc.; and the participation of Bass Hotels & Resorts; Avendra LLC will be headquartered in suburban Washington, D.C., with regional offices in Atlanta, Chicago, Dallas and other cities.
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 significant uncertainties raised by the launch of a new, independent enterprise; the integration of the existing procurement operations into the enterprise, risks involved in technological obsolescence, uncertainty involving business development efforts, the effects of economic conditions; supply and demand changes and competitive conditions in the hospitality and internet-enabled procurement services industries; 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.