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Marriott Corporation, 1981 Annual Report
Image 18
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Marriott International, Inc.. Marriott Corporation, 1981 Annual Report - Image 18. 1981. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. August 9, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/1445/show/1418.

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.. (1981). Marriott Corporation, 1981 Annual Report - Image 18. 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/1445/show/1418

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, 1981 Annual Report - Image 18, 1981, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed August 9, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/1445/show/1418.

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, 1981 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1981
Description Marriott Corporation Annual Report for calendar year 1981.
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 18
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_053_018.jpg
Transcript The new Washington Marriott offers downtown convenience in the District of Columbia. Sales ($ in millions) 77 78 79 80 81 Operating Income {$ in millions) $120 Hotels In the quarter-century since it entered the lodging business, Marriott has become a leader in the operation of hotels and resorts. The company consistently has achieved among the industry's highest occupancy and profitability rates. Over the past five years, sales and operating income in Marriott's Hotel Group have grown at average annual rates of 24% and 25%, respectively. Maintaining such a strong record is a constant challenge—seldom greater than that faced in 1981. Marriott is one of the fastest-growing hotel systems. At the end of 1981, Marriott offered more than 40,000 rooms in hotels, resorts and franchised inns located in 74 cities, primarily in the United States. An intensive expansion program will increase the total number of rooms to approximately 80,000 by the end of 1985. Management believes Marriott's prospects for continued success in this industry are enhanced by the company's strategic strengths and its aggressive expansion program. Performance in 1981 The Hotel Group's results for 1981 were strong considering 1981's drop in air traffic and the hotel industry's widespread occupancy declines. Operating income rose 12% over 1980, and sales were up 25%. Sales benefited from the addition of 23 hotels and improved room rates. However, since it normally takes nearly a year for a new hotel to establish itself in the marketplace, these new properties did not contribute significantly to profits. Reported operating income margins declined slightly because of a higher proportion of managed and leased (versus owned) hotels in 1981. Of course the reduced capital investment freed up cash to fuel the company's growth. The group's management strength was demonstrated again in 1981 by strong financial results and a decline of less than one percentage point of occupancy for comparable units—despite greater reductions in industry occupancy levels. These achievements were aided significantly by the implementation of two programs: □ Emergency business plan. A comprehensive plan was put into effect to reduce controllable costs without significantly affecting Marriott's guest service standards. Cost savings from the plan partially offset sluggish economic conditions throughout the year. □ Special marketing and promotion programs. Marriott's sales efforts were intensified through aggressive special programs— including broadened promotional programs, a higher proportion of contract rooms, and increased food and beverage discount offers such as "inflation fighter" meals. Strategic Strengths The growth of Marriott's hotel business in recent years, and the company's confidence in its future prospects, are based on a number of underlying strengths and capabilities: □ Inflation and recession resistance. Our hotels have provided an excellent hedge against inflation in good years and bad. Over the past 15 years, operating cash flow per room generally has increased at a greater rate than inflation, even during recessionary periods. Historical experience and occupancy rates show that Marriott's primary markets—particularly individual business travelers and group meetings— have tended to remain relatively strong even in hard times. □ Geographic dispersion. Our geographic dispersion across the U.S. and our balanced mix of locations (including downtown, suburban, airport and resort sites) help mitigate the impact of temporary or localized market conditions. □ Unique management and marketing systems. Marriott hotels have much more comprehensive management involvement and control than is typical in the industry, particularly in important areas such as food and beverage, and marketing. A regional 77 78 79 80 81 16