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Marriott Corporation, 1979 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1979 Annual Report - Image 5. 1979. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. November 26, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/637/show/603.

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.. (1979). Marriott Corporation, 1979 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/637/show/603

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 Corporation, 1979 Annual Report - Image 5, 1979, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed November 26, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/637/show/603.

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 Corporation, 1979 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1979
Description Marriott Corporation Annual Report for calendar year 1979.
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
Item Description
Title Image 5
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_051_005.jpg
Transcript of our stock. Shares were purchased in 1979 and a tender offer was made in early 1980. (See pages 18 and 30.) 3. Management Strength There are many business opportunities in the '80s for your company. We must be sure we have capable people to manage them. And so management development is now a much higher priority for us. We are structuring a sound manpower-planning system... expanding and accelerating our training programs ... identifying and preparing our brightest talent for rapid advancement ... reorganizing functions ... adopting new incentives to encourage and reward outstanding results. 4. External Pressures Some major issues are essentially out of our control. But we are working hard to minimize their impact. Inflation certainly is the nation's most critical economic problem today. But we have had excellent results in holding down labor and other operating costs under tight new control systems. Also, a corporatewide eval- New Directors Two new directors have joined the Board: Frederick Deane, Jr., chairman of the board and chief executive officer of the Bank of Virginia Company, Richmond, and Richard E. Marriott, group vice president—corporate. They replace two directors who have retired from the Board: Jorge Bird, advisor on tourist development, Puerto Rico, and Woodrow D. Marriott, senior vice president. uation of all staff activities late in 1978 produced savings of over $10 million in 1979 administrative expenses. In considering inflation's impact on Marriott, it is also important to note that our assets are heavily real estate based... with current replacement cost far in excess of their present value on the books. Appreciation of these assets is an important inflation hedge which adds underlying strength to the balance sheet. Energy is a serious issue everywhere today. While we are concerned, we do not believe that our operations are exposed to major risk. Shortages of gasoline are troublesome but not deeply threatening to our businesses. Most of our hotels are in major air-traffic centers. Business people who must travel continue to reach us—just as we saw during the '74-'75 energy crisis when our occupancy remained high. Most of our restaurants are in neighborhoods serving patrons within a three-mile area. Our theme parks are less than half-a-tankful away from the vast majority of their customers. Internally our conservation programs are helping to offset rising energy costs. Consumption declined about 10% in 1979-the fourth straight year of improvement. Government expansion and interference are affecting all of Free Enterprise. We believe that it is time for Americans to insist on less government in our lives and more freedom in the marketplace. In 1979, we launched a new Good Government program to enlist management in an ongoing appeal for government attitudes and actions that support—not obstruct—Free Enterprise. Our four-part strategy has produced profit gains the last four years of 32%, 22%, 39%, 31%. We can't expect to continue growing at this rapid rate, but we do believe we can attain average earnings increases of 20% annually over the next five years—barring any major disruption in the economy. Marriott Corporation in the '80s should be one of a very few billion- dollar companies whose profit gains and return on investment both are running in the area of 20%. We've got great confidence as we head into the new decade. We are especially encouraged by the tremendous support we receive from our 66,000 employees and 44,000 shareholders. (_/ J. Willard Marriott Founder and Chairman of the Board J. W. Marriott, Jr. President and Chief Executive Officer