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Marriott Corporation, 1970 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1970 Annual Report - Image 20. 1970. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. November 15, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1630/show/1617.

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.. (1970). Marriott Corporation, 1970 Annual Report - Image 20. 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/1630/show/1617

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, 1970 Annual Report - Image 20, 1970, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed November 15, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1630/show/1617.

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, 1970 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1970
Description Marriott Corporation Annual Report for the 53 weeks ending on July 31, 1970.
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 20
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_041_020.jpg
Transcript 1970 Financial Review Marriott Corporation's cash flow from operations in fiscal 1970 amounted to $25.5 million, or $2.05 per share. This amount, which is net income plus non-cash charges to profit and loss, has grown faster than net income since 1 965. The growth is significant because of cash flow's importance as the principal source of funds for the company's expansion program. In 1970 this program required $56 million, of which $28 million was obtained from increases in long-term debt and lease-purchase obligai ons, $10 million from interim construction financing, and the balance from cash flow. The sale of up to 900,000 shares of common stock, authorized by the Board of Directors in October, 1970, will provide working capital to retire interim financing and for other corporate purposes. The company has extensive real estate investments, which at July 31, 1970, had an original cost exceeding $135 million. Current fair value would be considerably greater. These investments are financed largely by debt. A financial summary might be shown as follows (amounts in millions): Assets Real estate (including lease-hold interest), at cost $135 Construction in progress $ 20 Other assets less current liabilities $101 Total $256 Financing Long-term debt and lease purchase obligations $103 Construction financing $ 20 Subordinated convertible debt $ 28 Net worth and deferred liabilities $105 Total $256 Capital expenditures for 1970 were substantially the same as for 1969. They are expected to continue at about this level in 1971. This excludes the 1,000-room New Orleans hotel, now under construction, which will be financed by the landlord in which the company has a 25% non-voting equity interest and a 50% voting interest. Funds for 1971 expenditures will be obtained from operating cash flow, long- and short-term debt, and new issue of common stock. Shareholders' investment increased $12.0 million in 1970 and now totals $89 million, or $7.17 pershare. It is the company's policy to retain all of its net income for future expansion. A 2.5 percent common stock dividend, equivalent to 80 cents per share, was paid in April, 1970. Operating Units TOTAL 382 45 TOTAL 3 35 24 68 TOTAL i 56 m 225 269 TOTAL 206 49 HOTELS. SPECIALTY RESTAURANTS GROUP IN FLITE SERVICES GROUP FOOD OPERATIONS GROUP Cash Flow From Operations 1966 1967 1968 1969 1970 Shareholders' Investment 77.4 89.3 56,8 1966 1967 1968 1969 1970