Keyword
in
Collection
Date
to
Marriott Corporation, 1982 Annual Report
Image 5
Citation
MLA
APA
Chicago/Turabian
Marriott International, Inc.. Marriott Corporation, 1982 Annual Report - Image 5. 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/1248.

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 5. 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/1248

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 5, 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/1248.

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, 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 5
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_054_005.jpg
Transcript can obtain real estate in tough, mature markets at reasonable cost. To date, over 100 Gino's units have been converted to Roy Rogers restaurants and are performing better than planned. Product development increased. Three years ago, Marriott began to fund substantially higher levels of product development activity. The results of this commitment are becoming increasingly visible. They include: D New menu items for most restaurant divisions. □ Improved room decor, expanded in-room entertainment and faster checkout for existing hotels. □ Experimental hotel prototypes designed to explore additional segments of the U.S. lodging market. Continued Emphasis On Fundamentals We continue to refine our execution of a successful strategy built on three principles that stem from Marriott's fundamental strengths: Controlled expansion within existing lines of business. As Marriott has steadily expanded its share of the U.S. lodging market, it has realized the benefits of increased national awareness, as well as economies in operating multiple properties within common market areas. By the end of 1985, the Marriott system will encompass approximately 150 hotels. In addition, Marriott will continue to expand its existing businesses in those areas where it can maintain a significant competitive advantage. In contract feeding, we plan continued expansion of airport terminal operations, airline catering and food service management. We also plan continued growth for Roy Rogers, Big Boy coffee shops and Host's specialty restaurants. Application of operating expertise to deliver superior products and services efficiently. In 1982, Marriott passed the $2.5 billion mark in sales and employed more than 109,000 people. Despite the company's constantly increasing size and complexity, successful performance still depends on well trained and well motivated employees. We rely on millions of face-to- face customer contacts each day to convey the Marriott philosophy, "We do it right." Continuing refinement of our operating systems and a strong commitment to management development also are essential elements of our operating philosophy. Full commitment of investment capacity to opportunities offering attractive returns. Marriott constantly seeks investment opportunities that offer attractive returns. In 1979 and 1980, we spent $259 million to repurchase approximately one-third of our stock, which we believed to have been undervalued. In 1982, we invested approximately $300 million in the acquisition of Host and Gino's, including assumed debt. Because of these transactions, the company's balance sheet is now at its target debt levels. It will show substantial investment capacity again beginning in 1984. Marriott's balance sheet does not fully reflect the extent of the company's investment capacity. It does not show $438 million in value derived from existing hotel management agreements. Nor does it indicate that most of our owned hotels, currently valued at $799 million, could be converted to long-term management agreements. Outlook Looking ahead, we believe the company's earnings will improve in 1983, aided by recovery in both the economy and overall business travel. For the long term, we believe Marriott's growth will be enhanced by its continuing emphasis on operating excellence, unit growth and a lasting commitment to quality and value. We remain enthusiastic about the company's prospects for long-term profit growth and its ability to build on its strengths throughout the 1980s. For a brief look at the makeup of Marriott's businesses today, we call your attention to the special section beginning on page 4. Our people performed well again in 1982. As always, we are very proud of them and are grateful for their outstanding ability and dedication. J, Willard Marriott Founder and Chairman of the Board J.W. Marriott, Jr. President and Chief Executive Officer March 7, 1983