Big five discuss internet marketplace plan

Accor, Bass, Granada Compass, Hilton International and Whitbread are in talks about setting up an Internet-based purchasing marketplace.

"The exchange would provide a broad range of services, which could mean major operational benefits for buyers and suppliers across the industry," the companies said.

A business plan for the exchange will be completed this autumn and the scheme could be up and running next year.

The companies will then try to attract other European hospitality companies to join the exchange. They estimate the combined purchasing muscle of the industry at more than £100b a year.

Accor, Hilton and Forte (which is now part of Granada Compass) announced in May that they were creating a joint venture that would allow customers to make a booking for any of their hotels in Europe via the Internet.

They said at the time that an on-line marketplace was also a possibility.