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Sheraton Corporation of America, 1965 Annual Report
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Starwood Hotels & Resorts. Sheraton Corporation of America, 1965 Annual Report - Image 3. 1965. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 20, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1466/show/1448.

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.

Starwood Hotels & Resorts. (1965). Sheraton Corporation of America, 1965 Annual Report - Image 3. 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/1466/show/1448

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.

Starwood Hotels & Resorts, Sheraton Corporation of America, 1965 Annual Report - Image 3, 1965, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed September 20, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1466/show/1448.

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 Sheraton Corporation of America, 1965 Annual Report
Creator (LCNAF)
  • Starwood Hotels & Resorts
Publisher Starwood Hotels & Resorts
Date 1965
Description Sheraton Corporation of America Annual Report for the year ending on April 30, 1965.
Subject.Topical (LCSH)
  • Hospitality industry
  • Hotel management
  • Corporation reports
Subject.Name (LCNAF)
  • Starwood Hotels & Resorts
Genre (AAT)
  • annual reports
  • business records
Language English
Type (DCMI)
  • Text
  • Image
Original Item Location Conrad N. Hilton Papers
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 3
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_025_003.jpg
Transcript Financial Highlights 1965 Years ended April 30 1964 1965 TOTALS 1964 PER COMMON SHARE VOLUME OF BUSINESS Gross Income $248,372,463 $232,924,584 $44.63 $42.34 EARNINGS Net Operating Income (Loss) $ 151,861 ($ 1,354,561) $ .02 Net Profit on Capital Transactions $ 237,919 $ 5,270,603 $ .04 Total Net Income (Loss) and Profits $ 389,780 $ 3,916,042 $ .06 ($ .26) $ .96 $ .70 DEPRECIATION & CASH FLOW Depreciation $ 19,446,094 $ 18,845,232 $ 3.49 Cash Flow (1) $19,597,955 $17,490,671 $3.51 $ 3.43 $ 3.17 DIVIDENDS Cash Dividends Preferred Common Stock Dividends Common $ 60,480 $ 2,329,316 $ 60,480 $ 2,190,213 2% $ .42 $ .40 OTHER FINANCIAL INFORMATION Total Assets at Estimated Value (2) Estimated Net Asset Value (3) Net Worth Profit (Loss) (4) . Adjusted Earnings (5) Shares Outstanding at Year Ends Preferred Common $343,031,000 15,120 5,565,491 $328,934,000 15,120 5,501,206 $61.63 $21.63 $ .99 $ 1.11 $59.79 $21.06 $ .72 OTHER STATISTICS Number of Hotels (6) Number of Rentable Guest Rooms (6) Percentage of Room Occupancy (Non-Resort Hotels) (7) Number of Employees (7) Number of Stockholders Preferred Common 100 36,807 73.6% 25,400 12 19,250 85 33,293 72.1 % 25,400 12 19,500 Footnotes (Glossary): (1) Cash Flow: Represents reported earnings from operations to which depreciation reserves have been added back. (2) Total Assets at Estimated Value: Represents the indicated market value of all the Company's assets. The real estate values have been estimated by Company officers by capitalizing earnings using the yardsticks generally recognized by real estate investors. (Note: no liabilities have been deducted in arriving at this amount.) Although estimated asset values represent the best judgment of the Officers, these values nonetheless tire only theoretical. The estimated asset values should not be given undue weight since their determination cannot be an exact science and may be subject to wide fluctuations due It) various marhet conditions and other factors. (3) Estimated Net Asset Value: Represents the common stock value based upon the above estimated total assets, after deducting all known liabilities, minority interests, and preferred stock interests. (4) Net Worth Profit: Represents total net income and profits including changes in estimated net asset values and differences arising from sales and purchases of common stock at more or less than net asset value. (5) Adjusted Earnings: Represents net operating income adjusted by adding back the amount of depreciation deductions in excess of 6% of gross hotel sales. For information regarding Adjusted Earnings see Letter to Stockholders. (6) Includes thirty-six hotel properties in 1965 and twenty-four properties in 1964 under Sheraton franchise or operated under management agreements. (7) Includes six hotel properties operated under management agreements. Per share figures are based on common shares outstanding at the year ends. Adjustment for preferred dividends was made in computing net operating income per share. Adjustments have also been made for exercise of Warrants and conversion of 4%% Debentures in computing the per share amounts for estimated net asset values and net worth profit. The amounts shown for the year ended April 30, 1964 have been adjusted to give effect to changes in income resulting from Federal Income Tax examinations for years prior thereto.