Keyword
in
Collection
Date
to
Hot Shoppes, Inc., 1963 Annual Report
Image 4
Citation
MLA
APA
Chicago/Turabian
Marriott Hot Shoppes. Hot Shoppes, Inc., 1963 Annual Report - Image 4. 1963. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. February 24, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/221/show/211.

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 Hot Shoppes. (1963). Hot Shoppes, Inc., 1963 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/221/show/211

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 Hot Shoppes, Hot Shoppes, Inc., 1963 Annual Report - Image 4, 1963, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed February 24, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/221/show/211.

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.

URL
Embed Image
Compound Item Description
Title Hot Shoppes, Inc., 1963 Annual Report
Creator (LCNAF)
  • Marriott Hot Shoppes
Publisher Marriott Hot Shoppes
Date 1963
Description Hot Shoppes, Inc. Annual Report for the fiscal year ending on July 28, 1963.
Subject.Topical (LCSH)
  • Hospitality industry
  • Hotel management
  • Corporation reports
Subject.Name (LCNAF)
  • Marriott Hot Shoppes
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_034_004.jpg
Transcript TO OUR STOCKHOLDERS SALES AND EARNINGS REACH NEW PEAKS Sales of $74.6 million from Hot Shoppes' broadly diversified public feeding and motor hotel operations were up $3 million from last year. Your Company thus enjoys the unique record of increasing its sales in every year of its 36-year history, with the last five years alone producing an 83% increase in volume. After-tax earnings of $2.4 million also evidence the stability and growth that Hot Shoppes' broad participation in basic consumer areas has provided over the years. 1963 per share earnings are $1.18 or 7% above the $1.10 earned last year. We feel that this is a good profit performance. Our 1963 operations absorbed heavy expansion expenses and were adversely influenced by the Eastern Air Lines' strike, and the unusually cold winter. A 4% stock dividend totaling 77,501 shares was distributed to our 6,150 shareholders in June, 1963. The market value of these shares totaled $1.9 million. EXPANSION IN 1963 Each of our divisions was expanded in fiscal 1963 in our continuing effort to provide quality food, good service, and beautiful surroundings to American families and businessmen at reasonable prices. The Airline Catering Division opened the country's largest and most modern jet flight kitchen at Washington's new Dulles International Airport. This new facility has a capacity of 10,000 in-flight meals per day, and provides a basic particpiation for your Company in the growth of national and international air transportation serving the Nation's Capital. New service restaurants were opened in North Miami Beach, Florida, South Miami, Florida, Capital Plaza Shopping Center near Washington, D. C, and a beautiful Top O' The Mall dining room in Salt Lake City's Cottonwood Mall Shopping Center. The Hot Shoppe on Florida Avenue in Washington, D. C. was- also reopened after extensive remodeling. A new public cafeteria was opened at Salt Lake City in the Cottonwood Mall Shopping Center, and several additional units are planned in this division for fiscal 1964. The Motor Hotel Division has opened a 184-room addition to the Dallas Marriott Motor Hotel, making it now the "world's largest" facility of its kind with almost 500 guest rooms. The addition features bi-level luxury suites, a second patio and pool area, and a ballroom seating 1,000 persons for dinner or 1,500 for meetings. The convention facilities of the Washington, D. C. Twin Bridges Marriott have also been expanded with the addition of two more 600- 700-person ballrooms, complete with exhibition areas and a banquet kitchen. This 12,000 square foot addition supplements the new 1,000- person Persian Room reported last year. Your Company was operating 111 units in 12 states and the District of Columbia at July 28, 1963, and twenty potential new units are under active development. PROFIT PLANNING FOR 1964 Our strong year-end financial position provides a sound basis for your Company's future profit growth. Current assets of $16.2 million provided a 2.3 to 1 current ratio over current liabilities of $7.1 million, and net working capital totaled $9.1 million. The flow of cash available for investment from earnings, depreciation, and deferrecT taxes also increased to $5.3 million in 1963 from $4.9 million last year. The stockholders' equity increased by $2.4 million to $18.7 million, and the 1963 book value of each share of stock was $9.28 as compared to $8.10 at the end of fiscal 1962. These strong financial reserves coupled with our continued good earnings record provide your Company with the capability and flexibility to continue successfully its ambitious but selective expansion program. Some significant organizational steps already have been taken to further strengthen our management base for growth through the establishment of six major operating divisions for Service Restaurants, Cafeterias, Motor Hotels, Airline Catering, Institutional Food Service, and Manufacturing. T. Lawson Combs has been named Vice President, Service Restaurant Division; Charles C. Baker, Vice