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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 5. 1965. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 18, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1466/show/1450.

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 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/1466/show/1450

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 5, 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 18, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1466/show/1450.

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 5
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_025_005.jpg
Transcript Sheraton occupancy rate compared to industry average 74 73 72 71 70 69 68 67 66 65 64 63 62 61 60 59 58 SHERATON* INDUSTRY AVERAGE 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 'Excludes resort hotels Center in our headquarters city. The public acceptance was even more enthusiastic than at any of our previous hotel openings. During the past fiscal year, Sheraton leased the Dayton-Biltmore in Dayton, Ohio. The Company also purchased the lease on the previously managed Sheraton Motor Inn in New York City and reacquired the Ford Hotel in Toronto. During this same period, we also terminated a lease on a small hotel in Cedar Rapids. In the current 1965-66 fiscal year Sheraton has purchased the previously leased Sheraton-Maui on the island of Maui in our 50th state and has entered into a lease of the Sheraton-Columbus Hotel in the capital of Ohio. Sheraton has also recently taken over the Sheraton-Schroeder Hotel in Milwaukee under a management contract. The 1,000-room Claiborne Towers Apartment in New Orleans, which we have owned for 12 years, is being converted into a commercial hotel and is now known as the Sheraton-Delta. The Sheraton-Wilshire in Los Angeles, to be completed this winter, will be operated under a management contract. A new 450-room Sheraton-Foxhead is planned to overlook Niagara Falls from the Canadian side on the site of the former 67-room Sheraton-Foxhead Hotel. Ground will be broken this fall for the 500-room Sheraton-Universal Hotel being constructed by MCA Inc. It will overlook the Universal City motion picture and television studios in Los Angeles. Overseas, we expect to open the winter season with a new hotel in Kuwait. Next summer will see the opening of our new hotel in Manila, and later it is expected there will be two new Sheraton hotels in Cairo. Sheraton's financial investment in these new properties will not be substantial. Since the start of the new fiscal year, we have sold and leased back the Sheraton- Charles in New Orleans; and have sold the Sheraton-Johnson to a local hotel operator in Rapid City, South Dakota. The latter property will continue as a Sheraton hotel under a franchise contract. These two transactions will result in a net capital gain profit of about $560,000, equal to $.10 per share on Sheraton stock. This will be included in the first quarter earnings of 1965-66. In conformity with its present policy, Sheraton has already disposed of most of those of its hotels which do not appear to have a particularly attractive future. Taking a look into the future, we note that the U. S. Department of Commerce expects travelers this year to spend $4.4 billion in American hotels and motels. Each group has approximately a million rooms . . . however, hotels will represent about 60% of the anticipated combined gross sales. Sheraton has an opportunity to grow by serving the expanding needs of the traveling public. This opportunity for growth is also coupled with a still further indication that the overbuilding that has faced the hotel- motel industry for some ten years is now slowing down. This means that, as the industry stabilizes and as Sheraton creates better facilities, it should be able to face competition more effectively. Sheraton's opportunities in the future, even in the event that competition should increase, will be interesting. We expect many other hotels will be in need of more aggressive management; and owners may, in many instances, be willing to retain Sheraton to assume the management of their properties. Most of our recent acquisi-