Marriot and Hilton the World Term Paper

Total Length: 729 words ( 2 double-spaced pages)

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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 (the high end and middle end travelers).
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/.....

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