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Sheraton Corporation of America, 1957 Annual Report
Image 12
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Starwood Hotels & Resorts. Sheraton Corporation of America, 1957 Annual Report - Image 12. 1957. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. November 19, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1659/show/1642.

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 12. 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/1642

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 12, 1957, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed November 19, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1659/show/1642.

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 12
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_021_012.jpg
Transcript RATIO OF LONG-TERM DEBT TO TOTAL ASSETS AT ESTIMATED VALUE LESS CURRENT LIABILITIES Long-Term Debt Total Assets At Estimated Value* Less Current Liabilities Net Estimated by Company Officers. Ratio 1947 $ 49,860 $ 5,767 i 44,093 $18,426 41.8% 1948 55/10 7,760 47,950 20,202 42.1 1949 60,279 6,803 53/76 22/76 42.6 1950 87,874 12,396 75,478 30,171 40.0 1951 101,861 9,260 92,601 32,483 35.1 1952 113,524 11,375 102,149 35,266 34.5 1953 129,475 10,899 118,576 43,085 36.3 1954 132,520 12,199 120,321 36,394 30.3 1955 193,033 16,746 176,287 68,267 38,7 1956 243,697 20,865 222,832 99,584 44.7 1957 304,645 26,028 278,617 140,524 50.4 Above Amounts in Thousands of Dollars FORECASTING One of the more important managerial devices now being used more extensively by Sheraton is that of forecasting future performance. This policy is in accord with the emphasis given this subject by the American Management Association (now occupying several floors of the Sheraton- Astor Hotel). Present forecasts indicate that losses resulting largely from modernization at several hotels and expenses incurred in connection with the new Philadelphia hotel, amounting in all to some two and one half million dollars, will be sharply reduced during the present year, and are expected to turn into satisfactory earnings during the following year. The ehmination of these deductions which are to a large extent "nonrecurring", should result in increased future earnings. DECENTRALIZATION Sheraton's program of decentralization is proceeding effectively. The feeling of concern at the first impact of changes in administrative policies has given way to enthusiastic support for a program which places greater responsibilities on Regional Managers and General Managers of hotels. The staff relationships of the home office specialists in food and beverage control, engineering, architecture and decoration, sales promotion, etc. have been clarified and the relationship of the "line" authority is being more clearly understood, with resulting benefits to all Sheraton Hotels. NEW TRAINING PROGRAM Mindful of the growing interest in their work by employees as they acquire greater skills, and likewise aware of the favorable impression on the travehing public of a well-trained organization, Sheraton is now placing major emphasis ori extensive training programs designed to reach each of the many thousand men and women who comprise the Sheraton company. Mr. Frank A. Petrie, who has gained eminence in the establishment of training programs in the aviation industry and in government work, has been named Sheraton Director of Education Programs. Mr. Petrie advises that neither dishwashing machine operators, bellmen, or hotel managers, or the company's president for that matter, will be exempt from the new training programs aimed at creating greater proficiency on the part of all Sheraton personnel. COMPARISON WITH INDUSTRY Sheraton's statistical department reports that the average room occupancy of Sheraton Hotels (excluding the Eppley hotels acquired during the 1957 fiscal year) rose from 75.2% to 76.1 % as compared with a decline from 71.5 % to 70.6% for the industry (as reported by H.K.F.). The inclusion of the Eppley hotels, many of which operated at a relatively low percentage of occupancy, reduced the 1957 occupancy rate by 2-4 percentage points. Although Sheraton is not classified as an industrial company, it is interesting to note that in 10