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Marriott Corporation, 1982 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1982 Annual Report - Image 4. 1982. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. October 27, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/1296/show/1247.

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.. (1982). Marriott Corporation, 1982 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/1296/show/1247

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, 1982 Annual Report - Image 4, 1982, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed October 27, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/1296/show/1247.

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, 1982 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1982
Description Marriott Corporation Annual Report for calendar year 1982.
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_054_004.jpg
Transcript TO OUR SHAREHOLDERS J. Willard Marriott J. W. Marriott, Jr. Marriott Corporation's strategy and attention to management fundamentals served it well in 1982, during one of the most difficult business environments in recent memory. Real gross national product in the United States declined 1.8%-the largest drop in nearly 40 years. Unemployment reached 10.8%. Business travel declined and airlines lost over $600 million. International travel was disrupted by economic instability. Earnings of U.S. corporations, as measured by the Standard & Poor's 500 index, declined an estimated 14% during the year. Despite these conditions, Marriott was able to increase net income by 10% and earnings per share by 8%, and to maintain its return on equity at the 20% level. Over the last five years, the company's earnings per share have compounded at an annual rate of 27%, while return on equity has nearly doubled. We continue to believe Marriott can average 20% earnings per share growth through the 1980s, increase dividends commensurately and maintain a return on equity of over 20%. Underlying Strategy Proves Sound Despite considerable pressure on short-term earnings, in 1982 we reaffirmed several aspects of our underlying business philosophy and strategy: Operational strengths demonstrated. Marriott's principal assets are its people and their operating expertise. In 1982, cost controls and productivity improvement enabled Marriott generally to perform well. For example, the company's hotel occupancy held up better than most of its competi tors. The Hotel Group was able to substantially offset the impact of reduced business travel through cost reduction efforts as well as increased contract business. Hotel growth financed. During the last three years, Marriott has added over 23,000 hotel rooms, nearly doubling the size of its system. The company will add another 25,000 rooms in the next three years. By the end of 1985, our system will include over 75,000 rooms worldwide, and Marriott will have a presence in 80 of the 100 largest U.S. markets. Most of these new hotels already have been financed and are under construction. In 1982, Marriott raised approximately $1 billion to finance hotel expansion, releasing corporate investment capacity to f u nd the Gino's and Host acquisitions, as well as capital improvements in other operations. Part of 1982's financing included $383 million raised through an innovative syndication package involving bank debt and the public sale of limited partnership interests. Acquisitions well integrated. Results for Host International, acquired in March 1982, have exceeded expectations. Host has significantly enhanced our management capabilities and has made positive contributions to both earnings and cash flow. The operational integration of the two companies is nearly complete, and full realization of economies in overhead, procurement and other systems will begin in 1983. The Gino's acquisition also has exceeded expectations. It demonstrated that Roy Rogers