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Marriott-Hot Shoppes, Inc., 1966 Annual Report
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Marriott International, Inc.; Marriott Hot Shoppes. Marriott-Hot Shoppes, Inc., 1966 Annual Report - Image 7. 1966. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. July 20, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/62/show/36.

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 Hot Shoppes. (1966). Marriott-Hot Shoppes, Inc., 1966 Annual Report - Image 7. 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/62/show/36

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 Hot Shoppes, Marriott-Hot Shoppes, Inc., 1966 Annual Report - Image 7, 1966, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed July 20, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/62/show/36.

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-Hot Shoppes, Inc., 1966 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
  • Marriott Hot Shoppes
Publisher Marriott International, Inc.; Marriott Hot Shoppes
Date 1966
Description Marriott-Hot Shoppes, Inc. Annual Report for the fiscal year ending on July 31, 1966.
Subject.Topical (LCSH)
  • Hospitality industry
  • Hotel management
  • Corporation reports
Subject.Name (LCNAF)
  • Marriott International, Inc.
  • 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 7
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_037_007.jpg
Transcript big rise in interest rates occurred, so that our expansion requirements for the next year are covered at reasonable rates of interest. The year 1966 had its problems, as does every year, but they have not slowed our growth in sales and net income. Wage costs accelerated their steady climb; food costs turned up sharply early in the year; the airlines strike restricted travel from July 8 to August 18, 1966; preopening expenses of new units (reported separately for the first time in the Income Statement) were $1,019,949. This compared with $509,326 for 1965. The interest cost of carrying a greatly enlarged construction program multiplied. We continue to follow a conservative policy of expensing all these charges as they occur and look to efficient operations by management to maintain profit margins. We recognize that 1967 will repeat some of the old problems and perhaps add some new ones. We are aware that only by providing better and more diverse services to a rapidly growing population can we continue to earn the steady profits that finance growth. As we plan for expansion, increased emphasis is being placed on management development. Our recruiting efforts are being stepped up and training programs for all areas of management are being accelerated. We are developing an organization designed to serve the scope of our activities in the years ahead. Our Employee Profit Sharing Program and our Management Deferred Stock Program are providing worthwhile incentives to all employees. Building upon the proven formula of continuous research and long-range planning, we have established the blueprints to enable us to continue to grow in the future as we have in the past. To reach our goals, we must continue to depend on the loyalty and fine contribution of Marriott-Hot Shoppes people all over the country—our employees, our shareholders and patrons—who make the progress of our company possible. «~^<r (W~^ /ft, ]. Willard Marriott Chairman of the Board 0. J. W. Marriott Jr. President