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Sheraton Corporation of America, 1952 Annual Report
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Starwood Hotels & Resorts. Sheraton Corporation of America, 1952 Annual Report - Image 5. 1952. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. November 14, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/174/show/158.

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. (1952). Sheraton Corporation of America, 1952 Annual Report - Image 5. 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/174/show/158

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, 1952 Annual Report - Image 5, 1952, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed November 14, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/174/show/158.

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, 1952 Annual Report
Creator (LCNAF)
  • Starwood Hotels & Resorts
Publisher Starwood Hotels & Resorts
Date 1952
Description Sheraton Corporation of America Annual Report for the year ending on April 30, 1952.
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 5
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_019_005.jpg
Transcript % io wte HPfoc&AoJiiefc HERATON CORPORATION 0 F AMERICA Y< our company has enjoyed a successful year, although earnings are somewhat lower than in the preceding year. Total earnings from all sources were $4,182,- 107 as compared with $4,910,256 for the prior year. The reduction in earnings was due in part to the heavy modernization program in progress in many of the Canadian hotels. Earnings were also affected by an increase of $554,033 in income taxes as well as by a reduction in the so-called "non-recurring items" as indicated in the schedule below. EARNINGS PER COMMON SHARE Earnings applicable to each of the Company's outstanding shares of common stock for the years ended April 30 were as follows: 1962 1951 Net Operating Earnings (after Preferred Dividends) $1.66 $1.90 Net Profits from Sale of Properties and Securities .78 .79 Other Non-Recurring Items .27 .54 .71 $3.23 Number of Common Shares Outstanding $1,531,405 $1,503,874 DIVIDENDS On April 30, 1952, all the remaining outstanding preferred stock of the Company was called for redemption, and the transfer books were permanently closed as of that date. For the year ended April 30,1952, cash dividends of 60fS per common share were paid. Since the close of the fiscal year the Directors voted on June 19, 1952, the usual 15j5 quarterly dividend, together with a special common stock dividend of one share of the Company's common stock for each twenty shares held as of July 8, 1952, payable August 1,1952. Although no binding policy with respect to future stock distributions can be established at this time, it is expected that future stock dividends in approximately the same amount will be considered annually by the Directors. Upon payment of the 5% stock dividend on August 1,1952, your company charged Earned Surplus $773,505 with resulting increases to Capital Stock of $73,759 and Paid-in Surplus of $663,831. Those changes resulted from the issue of 73,759 shares together with the payment of $35,915 in cash in lieu of 2,636 fractional shares. For the fiscal year ended April 30, 1952 the approximate average of the monthly high and low sale price of the Common Stock on the New York Stock Exchange was $10, resulting in the $9 transfer to Paid- in Surplus after increasing Capital Stock by $1 per share, the par value thereof. It is estimated that sale of the stock dividend by the average stockholder would decrease his pro rata ownership in the company by less than Y2%. GROSS INCOME Gross Operating and Other Income (excluding profits from sale of properties and securities) amounted to $62,772,723 for the year ended April 30, 1952, or 12% more than the $56,070,595 for the year before. The 1952 total includes $58,500,329 from hotel operations, $3,317,767 commercial building income and 627 from other sources. OPERATIONS AND IMPORTANT TRANSACTIONS The Company has again followed the policy of reinvesting a substantial portion of its earnings as well as funds derived from other sources in improvement of its properties and to the acquisition of new properties in areas where Sheraton is not adequately represented. The program of converting two-room suites into single transient rooms has been continued. Modernization and redecoration of many of the Company's facilities have made it possible for many Sheraton properties to enjoy better rates and higher occupancy than would otherwise have been possible. The Company's technical staff including decorators, designers, engineers, food and beverage control specialists, as well as specialists in job study, analysis and scheduling, has distinguished itself to a high degree as is attested