University of Houston, 4333 University Drive, Houston TX 77204-2000, (713) 743-1050.
© 2013 University of Houston. All rights reserved.
| Title | Marriott Corporation, 1969 Annual Report |
| Creator (LCNAF) |
|
| Publisher | Marriott International, Inc. |
| Date | 1969 |
| Description | Marriott Corporation Annual Report for the 52 weeks ending on July 27, 1969. |
| Subject.Topical (LCSH) |
|
| Subject.Name (LCNAF) |
|
| Genre (AAT) |
|
| Language | English |
| Type (DCMI) |
|
| 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 |
| Title | Image 5 |
| Format (IMT) |
|
| File Name | hiltonar_201609_040_005.jpg |
| Transcript | $57 million. This is 36 per cent more than the record $42 million the year before—a tangible measure of the scope of our current expansion activities. It is gratifying to report that Marriott Financial Services, a wholly-owned subsidiary organized in fiscal 1969, is off to a good start. This company provides financial services to our franchisees. It is also being used at present to provide interim financing for our landlords at the new hotel underway in New Orleans, and at the Essex House. At year end, MFS had pretax earnings of $171,000, and we expect to improve that figure substantially in 1970. Looking to the future, all signs point to continued material improvement in our performance in all aspects of our business. Your company participates in very real growth businesses. Several key indices, such as discretionary income, leisure time, vacation time, and business travel, are at record levels, and heading even higher. This augurs well for food and lodging services. We believe, furthermore, that Marriott Corpora tion is in a uniquely strong position today to prosper in the good markets of tomorrow. We have managed our assets carefully, working hard to earn and maintain a reputation for leadership in whatever we do. The result has been a quality of growth that distinguishes us in our industry, and a pattern that strongly suggests we are heading in the right direction. We appreciate the confidence investors are expressing in management, reflected among other ways by the rapidly increasing number of shareholders. We are dedicated to justifying your continued trust. 'J. Willard Marriott Chairman of the Board 0). ~vka**x*z?^ J. W. Marriott. Jr, President October 14, 1969 SALES BREAKDOWN THREE MAJOR OPERATING SEGMENTS Food Operations In-Flite Services Hotels and Specialty Restaurants. Fiscal 1969 48% 29% 23% Fiscal 1968 51% 27% 22% GROWTH IN NUMBER OF COMPANY UNITS Ending Fiscal '69 225 11 24 64 324 Ending Fiscal '68 181 8 18 49 256 Increase Food Service Units Hotels and Motor Hotels. .. Hotel and Specialty 44 3 6 In-Flite Kitchens and Related Units 15 68 | wM -- - |