University of Houston Digital Library: Annual Reports from the Hospitality Industry Archives: Marriott Corporation, 1984 Annual Report

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Marriott Corporation, 1984 Annual Report

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Marriott International, Inc.. Marriott Corporation, 1984 Annual Report - Image 5. 1984. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. April 6, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/439/show/395.

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Marriott International, Inc.. (1984). Marriott Corporation, 1984 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/439/show/395

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Marriott International, Inc., Marriott Corporation, 1984 Annual Report - Image 5, 1984, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed April 6, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/439/show/395.

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Compound Item Description

Title	Marriott Corporation, 1984 Annual Report
Creator (LCNAF)	Marriott International, Inc.
Publisher	Marriott International, Inc.
Date	1984
Description	Marriott Corporation Annual Report for calendar year 1984.
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

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Item Description

Title	Image 5
Format (IMT)	image/jpeg
File Name	hiltonar_201609_056_005.jpg
Transcript	Acquisitions also are playing a critical role in our international hotel strategy. We recently purchased highly regarded hotels in London and Paris. We plan to continue making selective acquisitions in closely related businesses where real economic value can be created for Marriott shareholders. Developing new hospitality or service-related businesses. Our internal business development efforts produced Courtyard, which will be a major contributor to Marriott's growth. In 1984, we decided to develop and manage three hfecare retirement communities. The first will open in 1987. We believe the market for this type of retirement facility is significant, growing rapidlyand not now being adequately served. FINANCING MARRIOTT'S GROWTH Hotel management agreements. Marriott remains a leader in creating innova- tive ways to finance hotel development. We develop and sell hotels, while maintain- ing long-term management agreements, typically 75 years in length. Today, nearly 85% of Marriott-operated hotel rooms are owned by others. This technique allows us to reduce capital commitments and generate high returns for our shareholders. During the past five years, nearly $3 billion of hotels have been financed under hotel management agreements, thus largely eliminating Marriott's financial commitment. In 1984, Marriott sold and financed nearly $1 billion of hotels in the following manner: □ Sold nine hotels to Chesapeake Hotel Limited Partnership, which was organized by Marriott. The limited partnership interests were syndicated to the public. □ Sold limited partnership interests in a hotel through the agency sales force of a major insurance company—a new approach that will be expanded in the future. □ Sold three hotels to major corporations which wanted to diversify their investment portfolios. □ Financed five hotels presendy under development which will be sold to investors upon completion. J. Willard Marriott and J. W Marriott, Jr. at the company's new flagship hotel in Washington, D.C.