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Marriott Corporation, 1973 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1973 Annual Report - Image 4. 1973. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 15, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1696/show/1663.

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.. (1973). Marriott Corporation, 1973 Annual Report - Image 4. 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/1696/show/1663

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, 1973 Annual Report - Image 4, 1973, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed September 15, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1696/show/1663.

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, 1973 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1973
Description Marriott Corporation Annual Report for the 52 weeks ending on July 27, 1973.
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 4
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_044_004.jpg
Transcript The Chairman and President Report to Shareholders J.W. MARRIOTT, JR. Marriott Corporation became a half-a-billion dollar company and set new earnings records in fiscal 1973. Earnings per share are up another 20 percent, to 72 cents from 60 cents a year ago. Net income jumped 22 percent to $21,640,000 from the $17,734,000 of last year. Sales hit $538,193,000, a 27 percent bulge over 1972's total of $442,928,000. This year much of our nation's food supply picture changed drastically, and strict government controls were imposed. With the sale of food so much a part of our busi- ness, it was a difficult challenge achieving these good results. In the past we have experienced continual increases in costs of wages, interest, real estate taxes and utilities, but we have not seen anything like the recent food-cost situation. Prices at the farm level floated freely all year, and in January our bills for purchased food began to spiral upward markedly. It is a tribute to our strong management and employee teams at all levels of the organization that we were able to continue our historic growth trend. All three of our operating groups—Hotels, Restaurant Operations, and In-Flite Services— produced increases in sales and earnings. restaurant operations tightened up internally, set new volume marks in all its major divisions and produced our largest earnings increase. hotels had the biggest sales gains and enjoyed record occupancy rates. The Group's Sun Line cruise ships and Camelback Inn condominium program also made significant contributions. in-flite services suffered from disappointing growth in U.S. air line traffic and certain expansion costs but continued to turn in good results both at home and abroad. * * * Again in 1973, we continued to expand in new units, new markets, and new businesses in away-from- home services. We now operate 570 facilities of various types in 35 states and 14 foreign countries. In addition, our franchisees operate almost 800 units. Growth also means jobs—4,600 more in fiscal 1973 alone. We now have almost 39,000 employees. This is a 100 per cent increase over five years ago. Diversity, we believe, is one of our great strengths. Entering the 1970's we re-cast our strategic plan to broaden our base in leisure-time services. Our ambitious program now encompasses cruise ships, group travel, resort condominiums, and family entertainment centers—three "Marriott's Great America" theme parks to open across the United States starting in the mid-1970's. We have carefully structured ourselves uniquely within the travel, tourism and leisure-time field. We will do only what we know best. * * * Although there are major challenges to be met in the economy in the year ahead, we are confident that the demand for quality food, lodging and leisure-time activities will continue to grow rapidly, and we expect a good 1974. r^f* A*^_3T~ illard Marriott Chairman of the Board Taj >&«t£~<«P~~" J.W. Marriott, J r. September 28, 1973