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| Title | Marriott Corporation, 1984 Annual Report |
| Creator (LCNAF) |
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| Publisher | Marriott International, Inc. |
| Date | 1984 |
| Description | Marriott Corporation Annual Report for calendar year 1984. |
| Subject.Topical (LCSH) |
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| Subject.Name (LCNAF) |
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| Genre (AAT) |
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| Language | English |
| Type (DCMI) |
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| 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 4 |
| Format (IMT) |
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| File Name | hiltonar_201609_056_004.jpg |
| Transcript | TO OUR SHAREHOLDERS Marriott Corporation continued its record of exceptional growth and profit- ability in 1984. Sales surpassed $3.5 billion. Net income increased 21%, earnings per share rose 25% and return on equity increased to 22%. Marriott sales and profits^have doubled since 1980 and have increased tenfold since 1971. We seek to build and maintain Marriott's reputation as the premier company in lodging, food service and related business areas. In 1984, we made substantial progress in developing and financing new growth opportunities, as well as in reinforcing the company's traditional operating values. We are confident that we can continue 20% earnings per share growth and can maintain return on equity over 20%. STRATEGY FOR GROWTH We grow by seeking closely related opportunities which build on Marriott's distinctive strengths. We do this by: Adding units to existing businesses. We have doubled the size of our lodging business since 1980. Marriott has become the largest chain of company-operated (vs. franchised) hotel rooms in America. However, this dramatic growth has not diluted profitability, quality of management or service levels. In fact, we have experienced strong increases in customer preference. Marriott will add over 25,000 luxury priced rooms by 1988. Most of these rooms are under construction. We have reviewed our coffee shop strategy and have put renewed emphasis on realizing the national potential of the Big Boy franchise network. We also will continue to use both internal development and acquisitions to selectively expand airport terminal operations, airline catering and our food service management business. Developing new segments of existing businesses. Courtyard by Marriott, the company's 1984 entry into the large, moderate price segment of the lodging market, is an unqualified success. The five test units in Georgia exceeded our expectations. Courtyard will be expanded into five additional markets during the next 12 months, and will develop into a national chain of over 50,000 rooms by the early 1990s. In addition, the company will enter the all-suite segment of the luxury hotel market. We have concluded that there is strong demand for this type of product and a solid opportunity for Marriott. The first Marriott Suites hotel will open in 1986. Acquiring companies in similar businesses which add real economic value. On February 22,1985, Marriott completed the acquisition of Service Systems Corporation, a large institutional food service company. Coupled with the acquisition of Gladieux Corporationjn January 1985, this will more than double the size of our food service management business. Now we are one of America's three leading companies in institutional food service, with a national market presence. These acquisitions parallel our successful move in 1982 to build a national presence in the airport food service business through the purchase of Host International. Host has provedto be quite profitable and has been well integrated into Marriott's management structure. |