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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 4. 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/1449.

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 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/1466/show/1449

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 4, 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/1449.

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 4
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_025_004.jpg
Transcript ERNEST HENDERSON Chairman of the Board ERNEST HENDERSON I President to Stockholders One of the most important accomplishments of Sheraton this past fiscal year was the improvement in operating earnings as reported in the Financial Highlights. We are also cautiously optimistic about the future. Sheraton Corporation of America is basically an owner and operator of hotels and motor inns with about 15% of its gross income derived from diversification through ownership of a subsidiary which manufactures automotive products. Sheraton is the leader in the hotel industry not only in gross sales but also as an innovator of ideas as well as in the training of people. This past year, your management devoted most of its energies to the operation of existing properties and obtaining the greatest value from those assets. Most of the improvement in earnings occurred in the second half of the fiscal year and reflected the result of an effective cost analysis and cost reduction program. Certain marginal restaurants were closed down in those hotels where the patrons could be served in other restaurants. Work schedules were altered and other new techniques were devised to reduce costs. The New York World's Fair was beneficial in the first half year, but earnings from this source were largely offset by the cost of accelerating our continuing hotel renovation program. This rehabilitation, now half completed, will cost about $20,000,000. A major portion of this program consists of the installation of new wall tile and fixtures in over 4,400 bathrooms, the conversion of 55 elevators to automatic operation, plus the continued upgrading of guest rooms. This program should pay for itself not only in greater guest satisfaction but also in increased sales and substantial payroll savings. Particularly gratifying is the more effective development of our sales organization, both in the United States and in Canada. Overseas, the sales and reservation organization now includes Company offices in London, Paris, Brussels, Frankfurt, Sao Paulo, Manila and Tokyo. We are proud to announce that Sheraton, the first in the industry to inter-connect hotels by means of "Teletype" and the first company to install a computer to record inter-hotel reservations, has more recently designed and expects to install this winter a far more sophisticated second-generation reservations computer. Training of personnel at all levels is of particular importance to your management. During the past year separate seminars were scheduled on sales, food and beverage operations and public relations. The usual number of college students who are brought in as "trainees" was doubled and three of these young men have earned Masters' Degrees in Business Administration. One measure of Sheraton's effectiveness in cost control is a comparison of its cost with those of the industry. Last year, Sheraton's payroll and related expenses expressed as a percentage of sales decreased by 0.5% from the previous year, thereby reaching a level 1.8 percentage points below that of the average for 700 hotels compiled by Harris, Kerr, Forster, & Co. This 1.8% differential on Sheraton's hotel sales volume represents a saving of $3,500,000. We are pleased to note that for the last eight years Sheraton has continued to show a satisfactory rate of occupancy despite a sharp drop in occupancy recorded by the hotel and motel industry. The past year's occupancy of 73.6% was not only the highest for Sheraton during the past eight years but has now reached a level 12.8 percentage points above the industry average. This represents the greatest spread registered to date and we believe is largely the result of constantly trying to give greater value to the customer. Our 100th Sheraton hotel officially opened on April 19, 1965. This is the new, glamorous 1,012-room Sheraton-Boston Hotel, which is part of the great Prudential