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Marriott Corporation, 1975 Annual Report
Image 25
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Marriott International, Inc.. Marriott Corporation, 1975 Annual Report - Image 25. 1975. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. April 9, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/1560/show/1544.

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 25. 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/1544

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 25, 1975, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed April 9, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/1560/show/1544.

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 25
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_046_025.jpg
Transcript SALES & OPERATING PROFITS BREAKDOWN Relative Contributions by Principal Lines of Business Fiscal Years Ended In July 1975 1974 1973 1972 1971 Operating Operating Operating Operating Operating Sales Profit Sales Profit Sales Profit Sales Profit Sales Profit Restaurant Operations 35% 41% Business and Professional Services Hotels 34% 38% 30% Cruise Ships 1% () indicates loss 37% (16%) 33% 35% 36% 33% 30% 1% 36% (4%) 32% 30% 37% 33% 30% 36% 1% 1% 32% 29% 39% 35% 28% 34% 1% 2% 32% 28% 39% 31 % 29% 41% The above table shows the relative contributions to the company's consolidated sales and operating profit by each of its principal lines of business for the five fiscal years which ended in July. Operating profit is net income before income taxes and after allocating administrative, advertising and other overhead costs, including an imputed rent charged on owned real estate and ships, but not including financial and non- operating items such as imputed and actual rent profit on owned real estate, interest expense less interest income, and franchise taxes, donations and other miscellaneous items. The table reflects a restatement for all periods for the transfer of Food Service Management and Highway division operations from Restaurant Operations to Business and Profes sional Services and the transfer of two specialty restaurants from Hotels to Restaurant Operations in fiscal 1975. Cruise ship operations have been segregated from the Hotels Group because of the significant operating loss which has occurred in fiscal years 1974 and 1975. NOTE: The contributions to operating profit are charged with the cost of expansion, including pre-opening and development expenses, except that the losses of Fairfield Farm Kitchens during the first three operating years (prior to 1972) have been excluded from Restaurant Operations to avoid distortion of comparisons among the Groups. The above figures include sales by operating units outsidelLS. ratios are expected to improve beginning in fiscal 1977. CASH FLOW CONTINUES GROWTH Cash flow from operations increased $6.7 million in 1975 in spite of the 11.8% reduction in net income. Marriott's cash flow is highly predictable over the intermediate term as net income constitutes only one-third of cash flow. The preponderance of depreciation, deferred income taxes and other noncash charges provide Marriott a growing base of operating cash flow. Less than $20 million was required to refurbish Marriott's existing assets in 1975 and most of these expenditures were discretionary as are capital expenditures for expansion. Predictable cash flows, plus an asset profile permitting highly discretionary capital expenditures, and con- NET INCOME (in millions) $24.7 Contribution to Corporate Totals from Foreign Operations FY Operating Sales Profit (Loss) 1975 1974 1973 1972 1971 10% 11% 10% 9% 8% (10%) 8% 13% 13% 10% 17. S. overhead deducted 1971 I 1972 I 1973 I 1974 I 1975 EARNINGS PER SHARE 47^^ 1971 1 57$ 1972 1 68$ 1973 78$^ 1974 i8$ 1975 SALES (in millions) 1971 I 1972 I 1973 1974 I 1975 23