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Marriott Corporation, 1972 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1972 Annual Report - Image 4. 1972. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. August 4, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/1171/show/1138.

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.. (1972). Marriott Corporation, 1972 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/1171/show/1138

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, 1972 Annual Report - Image 4, 1972, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed August 4, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/1171/show/1138.

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.

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Compound Item Description
Title Marriott Corporation, 1972 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1972
Description Marriott Corporation Annual Report for the 52 weeks ending on July 28, 1972.
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_043_004.jpg
Transcript MESSAGE TO SHAREHOLDERS: Record Pace Continues; Expansion Into Leisure Services Hits New Peak We have another good—and busy —year to report to shareowners. Good ... because we set new records in earnings, sales, addition of facilities, and other measurements of growth. Busy... because we not only maintained our expansion pace in existing operations—we had our greatest year of diversification into other leisure and travel activities. The growth rate of your company in earnings per share for the past 10 years is 20 percent compounded. We kept this up in fiscal 1972 with a 22 percent increase in earnings per share to 62 cents from 51 cents in 1971. Net income jumped 29 percent, to $17,734,000 from $13,777,000 a year ago. Sales increased to $422.9 million from $351.9 million —a 20 percent gain. MARRIOTT RESTAURANT OPERATIONS had the most significant earnings improvement of our three operating groups. There is a discernible demand today for quality food service—in restaurants of all types, fast food units, cafeterias, and private dining services for businesses, hospitals and schools. Our rapidly expanding Group has been working hard to meet this demand, and its results for last year show it. MARRIOTT IN-FLITE SERVICES showed a nice gain over fiscal 1971. Airline traffic has been strong since January, especially in Europe, and we have added a number of new facilities and accounts in the United States. Operations in South America have '^m^^TtA J. WILLARD MARRIOTT stabilized at generally satisfactory levels, but foreign exchange losses in Chile and Argentina were a problem. Marriott hotels had a difficult first half in fiscal 1972, but advanced strongly in the last quarter and finished about the same as fiscal 1971. The Group opened three new hotels, at the St. Louis and Miami Airports, and a924-room high-rise near the French Quarter of New Orleans. Extra expenses to open these properties, and lingering start-up costs with our new World Travel Division, were the major deterrents to growth the past year. We entered the 1970's resolved to broaden our services for leisure time-travel-tourism markets, and 1972 was the year when it began to happen in a major way. We: • Acquired the two luxury cruise ships of the Sun Line fleet and 45 percent interest in a third ship now being constructed. • Acquired the popular Farrell's Ice Cream Parlour Restaurants. • Diversified In-Flite Services to other applications, including the successful new Auto-Train concept. J. W. MARRIOTT, JR. • Announced plans to open our first overseas hotel—in Amsterdam. • Announced plans for a giant family entertainment center, to be built by 1975 in the Baltimore- Washington area, and to include a theme park, marine life park, and animal preserve. This is what we meant a year ago when we promised an accelerated growth program for your company. We have great opportunities ahead. We are not sitting still. We look with confidence to more solid progress for your company in fiscal 1973. Our sincerest thanks to you, our shareholders, for your interest and support. We know you join us in a saiute to the hard-working, dedicated management and employees behind the success of your company. J. Willard Marriott Chairman of the Board J. W. Marriott, Jr. President September 27, 1972