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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 8. 1957. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 20, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1659/show/1638.

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 8. 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/1638

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 8, 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 20, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1659/show/1638.

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 8
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_021_008.jpg
Transcript SHERATON'S "ECONOMIC PERFORMANCE" PER COMMON SHARE4 Years Ended April 30 "Economic Price-Performanc Performance" Ratio (Shows Estimated Increase in Cash i.e.. Asset Value ratio of Market Net Asset Estimated Dividends Increase Plus Price of Shares Quoted Value Net Asset Value Paid Dividends Paid to "Economic Market (per Company During During (Includes Performance" Price Officers) Year Year Esti mated Appreciation) (Note 1) 1941 .13 .37 — — — — 1942 .14 .37 — .01 .01 14.0 1943 .25 .49 .12 .01 .13 1.9 1944 .53 1.00 .51 .04 .55 1.0 1945 1.44 2.70 1.70 .05 1.75 .8 1946 4.25 2.99 .29 .06 .35 12.1 1947 2.29 4.52 1.53 .11 1.64 1.4 1948 1.92 4.89 .37 .13 .50 3.8 1949 1.76 5.33 .44 .13 .57 3.1 1950 2.57 8.05 2.72 .13 2.85 .9 1951 3.29 11.42 3.37 .19 3.56 .9 1952 3.97 12.73 1.31 .19 1.50 2.6 1953 4.76 14.94 2.21 .20 2.41 2.0 1954 5.84 17.17 2.23 .22 2.45 2.4 1955 12.63 20.21 * 3.04 .29 3.33 3.8 1956 11.23 23.64* 3.43 .44 3.87 2.9 1957 12.63 26.93* 3.29 .52 3.81 3.3 Adjusted for stock dividends and stock split-ups, and Estimated Net Asset Values at April 30, 1955 to 7957 allow for Exercise of Warrants and First Conversion Privilege of 4%% Debentures. ote 1. — Should not be confused with the more familiar price earnings ratio which excludes any unrealized appreciation. Remodeling of the Sheraton-McAlpin and Sheraton-Astor Hotels continues as part of a program to restore these hotels to positions of leadership in New York City. Sales and occupancy at the Sheraton-McAlpin are currently rising sharply. Sales are running some 30% ahead of a year ago, — an upward trend that is likely to continue in the coming years as the strikingly improved condition of the hotel becomes better known to the travelling public. Most of the modernization at the Hunting- ton-Sheraton in Pasadena and the Sheraton-Park in Washington has been completed, and as a result both properties, following a considerable period of "red ink", have reported satisfactory earnings during the past year. FACTORS AFFECTING REPORTED EARNINGS Although reported earnings from operations advanced only moderately, the extent of the rise was affected by several factors. Heavy rehabilitation expenses, especially in connection with the Eppley Hotels and two of the New York City hotels, losses from the two motels during the "off season" months which immediately followed their acquisition, and heavy charge-offs in connection with the new Philadelphia Sheraton reduced reported earnings. Likewise the increased depreciation reserves, made possible in part by changes in the tax laws, accounted for translating only a portion of the increase in "free and clear" earnings mentioned above into reported earnings. Many of the expenses in Philadelphia, of course, are nonrecurring and the seasonal motel losses are being more than offset by the summer profits now being realized. The greater deductions from earnings for depreciation are a part of the cash flow and, not being subject to income tax, are of course desirable. An upward trend of earnings in the hotels undergoing modernization is beginning to offset the losses to which these properties were subject during the past year. DEPRECIATION RESERVES Unlike many manufacturing companies which often have relatively little real estate in relation to sales volume, Sheraton has a very