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Hot Shoppes, Inc., 1961 Annual Report
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Marriott Hot Shoppes. Hot Shoppes, Inc., 1961 Annual Report - Image 6. 1961. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. May 22, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/522/show/511.

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 6. 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/511

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 6, 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 22, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/522/show/511.

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 6
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_032_006.jpg
Transcript Hot Shoppes, Inc. and Subsidiaries STATEMENT OF CONSOLIDATED FINANCIAL CONDITION July SO, 1961— July SI, 1960 ASSETS 1961 1960 CURRENT ASSETS Cash $ 6,506,406 Accounts Receivable (Less $75,817 and $21,927 reserves) 2,115,745 Balance due from Property Sales 719,444 Inventories, at lower of average cost or market Food, Cigarettes, Novelties, etc 1,718,318 Farm Livestock 151,780 Expense Supplies 486,422 Prepaid Expenses 485,788 Total Current Assets $12,183,903 5,629,591 1,555,487 1,408,370 158,030 554,315 307,035 9,612,828 FIXED ASSETS (At Cost) (Nate 1) Land and Land Improvements $ 858,367 $ 1,522,533 Buildings and Improvements 3,330,490 6,254,968 Leasehold Improvements 3,114,584 7,668,859 Furniture and Equipment 9,836,839 7,746,097 Automotive Equipment 1,174,710 1,100,069 $18,314,990 $24,292,526 Less Reserves for Depreciation and Amortization (Note 2) 7,202,611 6,867,205 Total Fixed Assets $11,112,379 $17,425,321 OTHER ASSETS Cash Surrender Value of Life Insurance ($710,000 Face Amount) Deferred Charges Total Other Assets TOTAL ASSETS The accompanying notes are an integral part of this statement. $ 266,000 280,452 $ 546,452 $23,842,734 241,400 348,243 $ 589,643 $27,627,792 Notes to Financial Statements Included in (1) Long-Term Debt Current Long-Term Liabilities Liabilities Mortgages Payable 4'/2% Mortgage, due September 1, 1975 (payable $5,378 monthly, in cluding interest and principal) $ 34,996 $ 637,226 Non-interest bearing purchase money Mortgage (payable $200,000 Jan uary 2, 1962 and 1963, and $90,000 January 2, 1964) 200,000 290,000 5% purchase money Mortgage, due July 26, 1966 (payable $14,200 an nually) 14,200 $ 249,196 56,800 Total Mortgages Payable $ 984,026 Long-Term Liabilities 700,000 $ 712,500 Notes Payable 5% Subordinated debenture notes, due December 31, 1962 (payable $12,500 annually) 4/2 % Note, due June 1,1969 (payable $50,000 semi-annually) Total Notes Payable Total Long-Term Debt During 1961, the companies sold certain properties with a net book value of $10,069,447. Mortgages on these properties, amounting to $6,579,873, were assumed by the purchaser. The companies have leased back these properties and hold options for their repurchase at the end of the lease period. The parent company is contingently liable as a guarantor on one of the mortgages in the amount of $800,000. Current Liabilities $ 12,500 100,000 $ 112,500 $ 361,696 $ 1,696,526