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Marriott Corporation, 1973 Annual Report
Image 12
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Marriott International, Inc.. Marriott Corporation, 1973 Annual Report - Image 12. 1973. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 17, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1696/show/1671.

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 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/1696/show/1671

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 12, 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 17, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1696/show/1671.

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 12
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_044_012.jpg
Transcript Hotels Group: Major Gains In Occupancies, Leisure Activities By James E. Durbin President Marriott Hotels Group The Marriott Hotels Group enjoyed a successful fiscal 1973. Although our food costs were markedly higher, the Group had a good earnings gain. Sales, including the three new hotels opened late in fiscal 1972, jumped over 35 percent. Hotel occupancy rates were strong. And our new diversified operations such as cruise ships and resort condominiums made excellent progress. Sales improved at all 20 Marriott hotels, most notably the Essex House in New York, Paraiso Marriott in Acapulco and Marriott Inn at Bloomington, Minnesota. We are especially pleased that all three hotels which opened toward the end of fiscal 1972— Miami, St. Louis and New Orleans —contributed to profits in 1973. LEADERSHIP OF HOTELS We are also proud to report that the occupancy rate for all Marriott Hotels is comfortably in the 80 percent range, and is up about three percentage points from last year. Again, Marriott leadership in lodging is demonstrated by this impressive statistic. The strongest gains in occupancy were registered at our Washington hotels, at Essex House in New York and at Houston and Bloomington, Minnesota. Occupancy also was strong at our major resort hotels—Camelback Inn at Scottsdale, Arizona, and Acapulco. Fewer new rooms were opened this past year. We assumed management of the 277-room Dallas Marriott Inn, and we acquired Sam Lord's Castle, a famous resort property in Barbados. A 300-room resort hotel is planned there. We resume our new rooms growth pattern in fiscal 1974 with the largest hotel in our system— and the largest airport hotel anywhere—at Los Angeles International Airport. This is a luxury facility with 1020 rooms, seven restaurants, and extensive ballroom and meeting space. NEW HOTELS COMING We now have under construction five new hotels with a total of over 2,000 rooms. All will open in fiscal 1975: at Denver, Kansas City and Newport Beach, California; at Lincolnshire, Illinois, north of Chicago, and in Amsterdam—our first European Hotel. A number of other hotel projects in the United States are in preliminary stages of development. We are shifting strategy somewhat and will operate many future hotels under management fee contracts, rather than own them ourselves. This will conserve capital invest- SALES Hotels Grou (In Millions) $89.2 $104.3 $127.1 $174.7 1 $57.5 1969 1970 1971 1972 1973 ment and open us up to a number of fine opportunities. Currently we are negotiating actively for contracts to manage foreign-owned hotels in several major markets in Europe and North Africa. Marriott franchising operations exceeded our expectations and last year's performance by wide margins. Franchised Inns were opened during the year at Dallas, Milwaukee, Pittsburgh, Ann Arbor, Michigan, and Blacksburg, Virginia. There are now 10 Inns with 1,999 rooms run by franchisees. This past year marked conversion of the Camelback Inn to a resort-hotel condominium, and first-year sales were on target. At fiscal year-end 96 units were sold and we held purchase contracts for 22 more. Marriott World Travel substantially trimmed its losses last year, but it did not make the profit we had anticipated. The division is gearing itself to our growing overseas operations, particularly the Sun Line cruise ships and the newly-acquired Barbados resort. NEW CRUISE SHIP The new "super ship" Stella Solaris made its maiden voyage in the Greek Islands in June, bringing to three the number of ships in the Sun Line fleet. This winter the Solaris will debut for two-week cruises in the Caribbean and sales already are running high. We also have developed an exciting new itinerary this winter for the Stella Oceanis, which will cruise along the east coast of South America. Affiliation with the Sun Line and its excellent management has been an important step for Marriott. Assuming no major downturn in the economy, fiscal 1974 should be an excellent year for the Marriott Hotels Group. 10