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Marriott Corporation, 1983 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1983 Annual Report - Image 37. 1983. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. June 3, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/303/show/291.

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 37. 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/291

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 37, 1983, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed June 3, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/303/show/291.

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 37
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_055_037.jpg
Transcript BUSINESS SEGMENT INFORMATION Results of operations by principal business segment are included in the Income Statement. Net assets employed, identifiable assets, capital expenditures and acquisitions, and depreciation and amortization by principal business segment are (in millions): Net Assets Employed* Identifiable Assets Capital Expenditures and Acquisitions 1983 1982 1981 $377.2 $371.5 $247.8 43.8 127.7 42.6 61.4 199.6 54.1 9.9 10.6 10.8 7.1 11.9 2.6 $499.4 $721.3 $357.9 Depreciation and Amortization Hotels Contract Food Services Restaurants Theme Parks Corporate Total 1983 1982 1981 $1,031.7 $ 729.9 $ 543.2 290.6 274.8 182.3 424.5 401.5 238.3 161.2 160.9 166.4 99.5 67.4 37.3 $2,007.5 $1,634.5 $1,167.5 1983 1982 1981 $1,264.6 $ 909.7 $ 675.2 391.6 373.3 239.8 483.0 452.2 274.4 167.7 169.0 172.0 194.5 158.4 93.5 $2,501.4 $2,062.6 $1,454.9 1983 1982 1981 $27.4 $22.7 $20.6 26.1 22.9 13.1 30.7 25.1 19.1 9.1 12.4 11.3 3.0 2.7 2.3 $96.3 $85.8 $66.4 *Net assets employed represent identifiable assets less identifiable current liabilities. ACQUISITIONS AND DISPOSITIONS In 1982, subsidiaries of the company acquired the outstanding common stock of Host International, Inc. ("Host") and Gino's Inc. ("Gino's") for cash in transactions accounted for as purchases. The aggregate purchase price, including long-term liabilities assumed, was $204,725,000 for Host and $112,725,000 for Gino's. The excess of cost over values assigned (goodwill) of $8,576,000 for Host is being amortized on a straight-line basis over 40 years. The results of operations of Host's airline terminal, specialty restaurant and retail merchandising facilities are included in the company's financial statements from the date of acquisition, March 3,1982, and are reported within the Contract Food Services and Restaurant segments. On an unaudited pro forma basis, results of operations for 1982 and 1981, as if Host had been acquired at the beginning of 1981, would include sales of $2,590,555,000 and $2,294,448,000, net income of $93,175,000 and $79,988,000 and fully diluted earnings per share of $3.39 and $2.97, respectively. These pro forma results include adjustments to reflect the interest expense on funds borrowed to finance the acquisition, additional depreciation on assets acquired and the elimination of results from discontinued operations. Gino's was a fast food and restaurant company acquired primarily to obtain prime real estate sites to be converted into Roy Rogers restaurants. Units acquired that were to be sold were recorded at their estimated net realizable values as of the acquisition date, February 5, 1982, and remaining units have been reported as "Assets Held for Sale." Operating profits for Gino's units are being recorded as a reduction in the cost of those units being converted. In August 1983, the company entered into an option to sell land under the Santa Clara theme park for $86.5 million. The option was subordinated to the right of the City of Santa Clara, California to buy the park. On January 31,1984, the City agreed to buy the park land and improvements for $101 million in a transaction to be completed in September 1984. The original option holders have commenced legal actions to stop the sale and recover damages. Management does not believe the suit has merit, and intends to contest it vigorously. The assets of the park have been reported as "Assets Held for Sale" at their net book value on the date the option was granted. Although a gain is expected to be realized upon completion of the sale, the amount is not presently determinable. The Santa Clara theme park will continue in operation through the 1984 season. 35