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Marriott Corporation, 1973 Annual Report
Image 24
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Marriott International, Inc.. Marriott Corporation, 1973 Annual Report - Image 24. 1973. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 24, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1696/show/1683.

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 24. 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/1683

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 24, 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 24, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1696/show/1683.

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 24
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_044_024.jpg
Transcript ■ ment would improve markedly. However, just as obviously, the company's growth patte'm would soon come to a halt. CAPITAL OUTLAY: NEW HIGH Capital expenditures in fiscal 1973 were a record $105 million, including $1.3 million for purchases of businesses, $6 million to acquire the leasehold interest in the Houston hotel and $16 million for theme park land (of which $10 million has been identified for resale). Also acquired during the year, on a pooling of interests basis, was deMontis S.p.A., an Italian company having airline catering, airport terminal and in dustrial feeding operations based in Milan, Italy. Projections call for capital expenditures of about $120 million in fiscal 1974, of which $25 million will relate to theme parks. This will be financed by cash flow from operations (about one half), increased interim construction financing and additional long-term debt. The year-end ratio of long- term debt to shareholders' investment will probably rise slightly from 1.25 to 1 at July 27, 1973— which is not an imprudent amount considering the extent of Marriott's real estate investments. Level payment mortgage loans are the company's preferred fi nancing vehicle, but intermediate- term bank loans and privately placed subordinated convertible notes provide flexible sources of funds to supplement cash flow from operations. The company maintains substantial bank lines to support its growing credit demands. FINANCIAL POSITION STRONG Net working capital increased slightly to $9.8 million, and at year-end the company had $12.6 million of short-term investments. Management believes strongly that the company's resources are more than sufficient to sustain its agres- sive expansion program. INVESTED CAPITAL (In Millions) 1 Convertible Subordinated Debt 1 Shareholders' Investment ■■ Long-Term Debt TOTAL $457.7 5.0 200.6 TOTAL $373.2 6.1 174.5 TOTAL $308.1 24.9 130.5 TOTAL $244.9 252.1 27.8 TOTAL $193.5 92.5 28.0 80.2 - ' , *S 152.7 if 1 1969 1970 1971 1972 1973 UNITS Hotels Group In-Flite Services Restaurant Operations TOTAL 570 70 1969 1970 1971 1972 1973 22