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Sheraton Corporation of America, 1957 Annual Report
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Starwood Hotels & Resorts. Sheraton Corporation of America, 1957 Annual Report - Image 6. 1957. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 16, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1659/show/1636.

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. (1957). Sheraton Corporation of America, 1957 Annual Report - Image 6. 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/1659/show/1636

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, 1957 Annual Report - Image 6, 1957, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed September 16, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1659/show/1636.

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, 1957 Annual Report
Creator (LCNAF)
  • Starwood Hotels & Resorts
Publisher Starwood Hotels & Resorts
Date 1957
Description Sheraton Corporation of America Annual Report for the year ending on April 30, 1957.
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 6
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_021_006.jpg
Transcript For the fiscal year ended April 30th, Sheraton made good progress, maintaining the upward trend of earnings from operations, despite exceptionally heavy charges for rehabilitation, large increases in reserves for depreciation, and substantial charges against earnings in connection with the new Philadelphia Sheraton. Net income from operations was $4,747,881 compared with $4,436,279 the previous year. Total reported earnings, including capital gains were somewhat lower than a year ago due to smaller realized gains from sales of real estate and securities. Realized gains amounted to $653,689 compared with $2,214,768 the prior year, resulting in total reported earnings of $5,401,570 versus $6,651,047 a year ago. Although during the year sales of properties and securities from which capital gains are derived were relatively unimportant, the increase in indicated unrealized gains was substantial. Earnings per share, both excluding and including allowance for depreciation, and the indicated net asset values based on common shares outstanding at year ends, adjusted for stock dividends to the present basis of 4,524,079 shares on April 30, 1957, were as follows: 1957 1956 1955 Net Income from Operations Omitting Depreciation Including Depreciation Net Profit from Sale of Properties and Securities Total Net Reported Earnings (After Depreciation) Indicated Net Asset Value 26.93 Rise in Indicated Net Asset Value Dividends Paid "Economic Performance" (Consisting of rise in indicated net asset value, plus cash dividends paid) $3.81 $3.87 $3.33 $3.68 $2.76 $2.09 1.05 .98 .90 .14 .49 1.05 1.19 1.47 1.95 26.93 23.64 20.21 3.29 .52 3.43 .44 3.04 .29 SOURCES OF FINANCIAL DATA The foregoing amounts, except for those relating to "indicated asset values", are based on audits of Harris, Kerr, Forster & Co., certified public accountants. The calculations of indicated net asset values are based on careful estimates by Company officers of the market value at which the real estate properties could be sold at a given time, after deducting all known liabilities. These estimates are believed to be conservative. DIVIDENDS Quarterly cash dividends of $.15 per common share were declared during the 1957 fiscal year. In addition, a regular stock dividend of 2% was paid on August 1, 1956 and a special stock dividend of 20% was paid on March 1,1957, so that in effect there occurred a 22% increase in the $.60 annual rate of cash dividends per share. The dividend record since 1941, shown in the chart on page 6, gives effect to all stock dividends and stock split-ups which have occurred. TOTAL SALES Sales volume for the fiscal year 1957 was $153,791,701 compared with $121,672,472 for 1956 and $89,375,592 two years ago. Sales for the coming fiscal year are expected to exceed $170,000,000. INCREASE IN "FREE AND CLEAR" EARNINGS At the beginning of the year, Sheraton owned thirty-one hotels. During the year one of the