Keyword
in
Collection
Date
to
Marriott Corporation, 1980 Annual Report
Image 4
Citation
MLA
APA
Chicago/Turabian
Marriott International, Inc.. Marriott Corporation, 1980 Annual Report - Image 4. 1980. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. October 29, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/1134/show/1093.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marriott International, Inc.. (1980). Marriott Corporation, 1980 Annual Report - Image 4. Annual Reports from the Hospitality Industry Archives. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. Retrieved from https://digital.lib.uh.edu/collection/hiltonar/item/1134/show/1093

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marriott International, Inc., Marriott Corporation, 1980 Annual Report - Image 4, 1980, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed October 29, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/1134/show/1093.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

URL
Embed Image
Compound Item Description
Title Marriott Corporation, 1980 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1980
Description Marriott Corporation Annual Report for calendar year 1980.
Subject.Topical (LCSH)
  • Hospitality industry
  • Hotel management
  • Corporation reports
Subject.Name (LCNAF)
  • Marriott International, Inc.
Genre (AAT)
  • annual reports
  • business records
Language English
Type (DCMI)
  • Text
  • Image
Original Item Location Marriott Hotels Collection
Digital Collection Annual Reports from the Hospitality Industry Archives
Digital Collection URL http://digital.lib.uh.edu/collection/hiltonar
Repository Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston
Repository URL http://www.uh.edu/hilton-college/About/hospitality-industry-archives
Use and Reproduction No Copyright - United States
File Name index.cpd
Item Description
Title Image 4
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_052_004.jpg
Transcript To Our Shareholders Despite a difficult economy, Marriott increased operating profits by 14% in 1980. Earnings per share rose 33%, aided by the company's repurchase of nearly one quarter of its common stock. Return on shareholders' equity increased to 24%. Marriott Corporation's record over the past five years has been exceptional. Earnings pershare have grown at an average annual rate of 30%, and return on shareholders' equity has more than doubled. Few companies can sustain such a combination of high profit growth and capital productivity. However, our goal throughout the 1980s will be to average 20% annual earnings growth, to increase dividends commensurate with this growth, and to maintain a return on equity in excess of 20%. We believe there are four fundamental reasons why Marriott can achieve these ambitious objectives: Q Unique operating systems and capabilities which underlie all of our major businesses. D Aggressive expansion of our domestic hotel system. □ Selective, yet significant, growth opportunities in non-hotel businesses. □ An unusual degree of financial flexibility to respond to changing market conditions or new investment opportunities. Unique Operating Systems Marriott's principal asset is its operating expertise across a broad range of food service, lodging and entertainment businesses. We will continue to refine these operating systems and invest heavily in developing the managers who run them. The Marriott Hotel Group, as an example, is unique in a number of ways. It is the only hotel system with completely integrated capabilities in feasibility, development design, construction, marketing and operations. We also are unique in having deliberately restricted our hotel franchising program to a relatively small number of top quality independent hotel operators. Another way we maintain consistently high quality throughout the hotel system is through regional management teams, each of which supervises eight to ten hotels. Operating systems for our other businesses also emphasize control, consistency and quality. For example: □ We are the world's largest caterer of airline meals. We place extraordinary emphasis on productivity and consistency in kitchen-level operations. This approach also is characteristic of our other contract food service operations. □ Much of the acceptance of our Roy Rogers restaurant concept is based on efficient delivery of a uniquely fresh, high-quality product D Our theme parks in the Chicago and San Francisco areas generate among the highest in-park spending in the industry, primarily because of our long experience in food service operations. We are committed to management development as an integral part of our operating philosophy. This policy is well illustrated by the preparations made to open and operate hotels in the 1980s. Because it takes three to five years to develop a typical hotel, we clearly saw the need in 1978 to step up our hiring, training and development programs to properly staff the 22 new hotels which will open in 1981. By mid-1980, we had completed the expansion and restructuring of our hotel organization for this growth. Because of our continuing emphasis on management development we believe that personnel turnover in this group will remain well below industry average. 20-25% Annual Hotel Expansion Our aggressive expansion program will more than double the number of domestic Marriott hotel rooms in the next five years. With this expansion, we will continue to: □ Expand into markets where demand for quality hotel rooms exceeds supply. □ Locate hotels only where at least two of our three key market segments—individual business, groups of all types, and individual pleasure—appear in depth. □ Maintain our management systems which have helped produce some of the highest occupancy levels, room rates, and food and beverage profits in the industry. □ Refine the criteria for product and service standards, as we become even more sophisticated in our understanding of consumer needs. □ Invest heavily in the development of future managers. For these reasons, we think our growing hotel system will sustain its record of stable earnings and consistently high returns.