Aramark and Avendra: Did the $40 Million in Procurement Savings Show Up?
In 2017, Aramark paid $1.35 billion for Avendra, a hotel buying group founded by Marriott, Hyatt, Fairmont, ClubCorp and IHG. Aramark promised about $40 million a year in procurement savings by year three. Every update was positive, but the final number never came.
Key takeaways:
How five hotel companies built Avendra, and what Marriott made on a $13 million investment
Why about 95% of the price was customer relationships, goodwill and the trade name
How Aramark combined the buying behind the scenes and kept the Avendra brand in front
Every public update on the $40 million, and where the…
The skinny
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