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Marriott Corporation, 1983 Annual Report
Image 36
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Marriott International, Inc.. Marriott Corporation, 1983 Annual Report - Image 36. 1983. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. December 1, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/303/show/290.

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.. (1983). Marriott Corporation, 1983 Annual Report - Image 36. 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/303/show/290

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, 1983 Annual Report - Image 36, 1983, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed December 1, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/303/show/290.

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, 1983 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1983
Description Marriott Corporation Annual Report for calendar year 1983.
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 36
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_055_036.jpg
Transcript The company operates certain hotels under long-term agreements (up to 75 years including renewal options) with rentals and management fees based primarily on hotel profits. Rent expense consists of: 1983 1982 1981 (in thousands) inimum rentals on operating leases $ 50,428 $ 47,907 $19,470 dditional rentals based on sales operating leases 28,950 20,477 11,818 capital leases 2,505 3,358 1,698 $ 81,883 $ 71,742 $32,986 lyments to owners of leased and managed hotels $182,656 $135,233 $97,124 CAPITAL STOCK Sixty million shares of common stock, with a par value of $1 per share, are authorized, of which 29,421,574 and 29,423,664 were issued at December 30,1983 and December 31,1982, respectively, including treasury stock of 2,545,230 and 2,868,972, respectively. One million shares of preferred stock, without par value, are authorized. As of December 30,1983, no preferred shares have been issued. Total common stock shares reserved at December 30, 1983 are: Employee stock option plan 1,781,581 Deferred stock compensation program (516,875 shares fully vested) 931,686 Employee qualified stock purchase plan 531,444 Restricted stock plan for key employees 25,000 Conversions of convertible subordinated debt 1,952 Total shares reserved 3,271,663 Under the employee stock option plan, options to purchase shares of common stock may be granted to key employees at not less than 100% of the fair market value on the date of grant. All options expire 10 years after the date of grant and are exercisable in cumulative installments of one-fourth at the end of each of the first four years. Activity under the plan is summarized below: Shares Under Option Number of Shares Option Price Per Share Balance, January 2,1981 Granted Exercised Canceled 1,178,018 291,160 (85,954) (44,592) $ 9.31-34.50 33.13-41.56 9.69-28.69 9.69-33.44 Balance, January 1,1982 Granted Exercised Canceled 1,338,632 355,290 (247,639) (62,728) 9.31-41.56 36.25-60.94 9.31-33.44 9.69-49.56 Balance, December 31,1982 Granted Exercised Canceled 1,383,555 341,565 (199,929) (50,332) 9.69-60.94 51.38-76.13 9.69-49.56 10.74-73.25 Balance, December 30,1983 1,474,859 9.69-76.13 At December 30,1983 options for 688,230 shares were exercisable, and 306,722 shares were available for granting of additional options. No accounting is made for options until they are exercised. Shares of deferred stock may be granted to key employees and generally vest in annual pro rata installments commencing one year after grant and continuing until retirement. However, upon termination all non-vested shares are forfeited. The company accrues compensation expense for the fair market value of the shares on the date of grant, less estimated forfeitures. The purchase price for the shares reserved under the employee qualified stock purchase plan is the lower of market value at the beginning or end of the plan year. 34