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Marriott Corporation, 1981 Annual Report
Image 23
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Marriott International, Inc.. Marriott Corporation, 1981 Annual Report - Image 23. 1981. 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/1445/show/1423.

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 23. 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/1423

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 23, 1981, 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/1445/show/1423.

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 23
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_053_023.jpg
Transcript Theme Parks □ Gino's acquisition. An early application of the new Roy's strategy is Marriott's acquisition of Gino's Inc. under a $48 million tender offer completed in February 1982. Gino's is a Philadelphia-based chain of 500 restaurants. Marriott will convert approximately 200 of the Gino's restaurants to Roy Rogers units over two years. Since the existing Gino's have a physical format similar to that of Roy's, the conversion process will be much like that used in Roy's remodeling program. A few units will be converted to Bob's Big Boys. The Gino's transaction has accelerated our present timetable that calls for the addition of about 50 Roy Rogers units a year. The company will achieve more than three years of expansion in a shorter time, yielding sales and profits earlier than through construction of new units, and at a lower capital investment. This move will help in development of the Philadelphia, Northern New Jersey, Baltimore and Washington, D.C. markets. It also will provide a source of experienced management for future growth. The company has signed an agreement in principle for the sale of a minimum of 80 Gino's units to KFC Corporation. Marriott intends to sell other Gino's units that do not fit its expansion plans. Marriott welcomes the more than 12,000 dedicated Gino's managers and employees to our restaurant operations. Outlook The success of Marriott's Restaurant Group in the highly competitive markets of 1981, and the strategic moves accomplished early in 1982, provide the basis for renewed confidence in our long-term prospects for this business. Marriott's two Great America theme parks are located in Santa Clara, California, near San Francisco, and in Gurnee, Illinois, between Chicago and Milwaukee. Hosting a total of more than five million guests annually, these parks combine a wide range of thrill and family rides, exciting live stage musicals, street entertainment, arcades and games, merchandise and food. The attractions are set in five sections, each representing an era in American history and appealing strongly to the whole family. The Santa Clara park is open from March to October, and the Gurnee park operates from May through September. Marriott also manages Rye Playland, an amusement park in Westchester County, New York, under contract with the local government. Performance in 1981 The Theme Park Group posted improved results in 1981, with operating income increasing by 7% on a 12% sales gain. Total attendance increased by 8/% over 1980. The Gurnee park had record attendance despite an unusually heavy number of rain days and a depressed local economy. Increased group sales and promotional efforts contributed to attendance gains. Strategic Strengths Both Great America parks enjoy choice locations, with high quality facilities and strong entertainment value. Each park is the primary attraction of its type in its regional market. It appears unlikely that either will have direct local competition from new parks because of the high cost of building and financing similar facilities today. These parks have been valuable sources of cash flow to Marriott since they opened. A new creative marketing strategy implemented in 1981 enhanced the parks' appeal to families and contributed to the improved attendance and profits. Outlook Marriott does not plan to build new theme parks, but will selectively add attraction value to existing parks. We expect continued improvement in return on assets and substantial cash flow to be generated from our existing parks in the 1980s. The new American Eagle roller coaster attracted over 1.5 million riders in 1981 at our Gurnee theme park. Sales ($ in millions) Operating Income ($ in millions) 21