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Hot Shoppes, Inc., 1961 Annual Report
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Marriott Hot Shoppes. Hot Shoppes, Inc., 1961 Annual Report - Image 4. 1961. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. May 24, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/522/show/509.

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. (1961). Hot Shoppes, Inc., 1961 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/522/show/509

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., 1961 Annual Report - Image 4, 1961, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed May 24, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/522/show/509.

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 Hot Shoppes, Inc., 1961 Annual Report
Creator (LCNAF)
  • Marriott Hot Shoppes
Publisher Marriott Hot Shoppes
Date 1961
Description Hot Shoppes, Inc. Annual Report for the fiscal year ending on July 30, 1961.
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_032_004.jpg
Transcript millions of dollar; '52 '53 '54 '55 '56 '57 '58 '59 '60 '61 lillions of dollt PROFITS net profits after taxes '52 '53 '54 '55 '56 '57 '58 '59 '60 '61 requirements. Actual examples of these prototypes are in current operation. With this engineering completed and a strong management team developed, the Company is well prepared to continue its aggressive expansion program. Over 800 new stockholders have invested in the Company during the past year thus bringing our shareholder total to 4,660. We appreciate the confidence and interest that this development expresses. Profit sharing was introduced last fall for all employees with five or more years of service. The success enjoyed by this plan in its first year has prompted its current extension to all employees with three years' service. We feel that this plan gives tangible expression to the bond of mutual interest and benefit that encompasses our employees, our shareholders and our management. FINANCIAL DEVELOPIVIENTS In order to more accurately report our earnings as the motor hotel division continues to expand, we have eliminated accelerated depreciation charges from all financial statements in this report. This was done with the counsel and consent of our auditors. The Internal Revenue Code permits us to continue realizing the benefits of accelerated depreciation in our income tax calculations. The new reserve for deferred taxes of $1.2 million on the Statement of Financial Condition reflects the Company's realized cash gain from this practice. As a means of raising capital, three of our hotel properties were sold and leased-back. Hot Shoppes retains all operating rights in these properties and holds options to re-acquire ownership of all the real estate on favorable terms. As a result of this transaction, mortgages totaling $6.6 million were released and $3.5 million of additional working capital was received. Cash of $6.5 million represents an increase of $900,000 over 1960's $5.6 million. The 1961 ratio of current assets to current liabilities of 1.8 to 1 is also an improvement over the ratio of 1.4 to 1 last year. The 971,862 share increase in capital stock arises principally from the November, I960, 100% stock dividend which effected a 2:1 stock split; and from the subsequent 4% stock dividend issued in June 1961. The market value at the date of declaration of the 69,663 shares distributed in June was $1,776,407. All our energies are devoted to providing sound values in quality food and lodging for the whole family. To all persons at work or play, on the road or in the air, Hot Shoppes extends its services for their pleasure and comfort. Respectfully submitted, J. Willard Marriott Jji evident September 29. 1961