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Marriott Corporation, 1975 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1975 Annual Report - Image 4. 1975. 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/1560/show/1523.

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.. (1975). Marriott Corporation, 1975 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/1560/show/1523

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, 1975 Annual Report - Image 4, 1975, 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/1560/show/1523.

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, 1975 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1975
Description Marriott Corporation Annual Report for the 52 weeks ending on July 25, 1975.
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 4
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_046_004.jpg
Transcript were able to improve the combined earnings of our three principal Groups. SUN LINE: TROUBLES SUBSIDING Sun Line, now organized as a fourth line of business, was our major problem during the year, losing $5.8 million. Much of this foreign loss is not deductible for income tax purposes, and with the increase in our effective tax rate, Sun Line's total impact on the company amounted to a negative 120 per share. As a result of the Cypriot War, much of our Sun Line business was lost in the summer and fall of 1974—the peak of the season. In addition, we were struggling to offset a 300% increase in fuel prices. Caribbean cruises went reasonably well during the '74-'75 winter, but large additional sums were spent on marketing to fill the ships in a weak economy. When the ships returned to Greek waters in the spring, sales were weak due to continuing political turmoil in Greece, and the increased cost of air fares to Europe. Many of Sun Line's problems are nonrecurring and are now behind us. Travel to Greece began to improve in the summer of 1975, a new marketing organization has been formed, and the Sun Line loss should be cut by at least two-thirds in fiscal 1976. LONG-TERM EXPANSION: SPECIAL COSTS Profits in 1975 were further affected by short-term but heavy start-up expenses in the most active expansion program in your company's history. We added seven new hotels, the largest number in any year. We opened 52 new restaurants, acquired 12, converted 32 and closed 16. We also disposed of seven airline catering kitchens plus other operations in Italy, while at the same time increasing ownership of flight kitchens in seven other European markets. In addition, we wrote off $500,000 in development expense for hotel projects which were discontinued because their J. W. MARRIOTT, JR., President and Chief Executive Officer; J. WILLARD MARRIOTT, Founder and Board Chairman, at the exciting new Marriott Hotel in Newport Beach, Calif. projected return failed to meet our criteria for profitability. Expansion and change is a way of life in your company, but in 1975 the adverse effect of hotel start-up and restaurant conversions—-plus the write-off losses and sale of units in Italy—was 20 a share greater than comparable '74 charges. LOOKING AHEAD: BETTER YEAR COMING We are optimistic about prospects for the year ahead. Our hotel business is strengthening. Committed group business is strong. We have high quality hotels which we feel will be in great demand. Twenty Marriott Hotels and Inns received Mobil Guide 4-Star awards in 1975, more than any other single hotel chain. With a heavy concentration of rooms in the Washington-Philadelphia-New York-Boston corridor we are well-poised to take advantage of heavy Bicentennial travel. The new hotels opened in 1975 are expected to contribute significantly to profits in 1976. Only one new owned hotel will be opened in 1976, thus limiting hotel startup expenses this year. In 1975, we merged our management food services organization (feeding for business and industry, hospitals, schools, and vending)—plus our highway division —with In-Flite and security operations, creating the Business and Professional