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Marriott Corporation, 1974 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1974 Annual Report - Image 3. 1974. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 17, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/678/show/640.

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.. (1974). Marriott Corporation, 1974 Annual Report - Image 3. 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/678/show/640

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, 1974 Annual Report - Image 3, 1974, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed September 17, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/678/show/640.

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, 1974 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1974
Description Marriott Corporation Annual Report for the 52 weeks ending on July 26, 1974.
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 3
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_045_003.jpg
Transcript Message to Shareholders: i More Records Set Despite Energy Crisis, Other Problems If ever there were a time when the strength of your company was tested, it was fiscal 1974. The "Energy Crisis" struck at home and abroad, and on top of other pressures on profits it made for an anxious year. But ours is a highly responsive management team which adjusts remarkably well to problems. And it did not permit our continuous earnings stream to be interrupted. We increased both net income and earnings per share by 14% to $24,745,000 or 80 cents per share, from $21,640,000, or 70 cents. Sales were up 19%, to $640.4 million from $538.2 million. As we began fiscal 1974, interest and food costs began spiraling. Then TWA, a major airline catering customer, was shut down by a strike for six weeks. Later, it became evident that declining sales at some of the older Hot Shoppes restaurants and operating problems in Frankfurt and London ■ catering kitchens were more serious than we first thought. But the biggest problem of all was the energy crisis. Gasoline shortages, a general concern about travel, and higher fuel charges came down on us hard. Many divisions were affected in various ways, but the principal casualties were the Sun Line and Tollroad Divisions. Sun Line fuel costs tripled. Some people concerned about travel connections—or about sharply higher air fares—canceled their bookings. Gasoline shortages kept motorists off the highways—and out of our tollroad units. The combined effect of the energy crisis on these two divisions alone was about six cents a share compared with their results the year before. Marriott Team Responds Management and employees, however, came through brilliantly in all divisions. We reduced man-hours, improved employee productivity, consolidated or streamlined operations, strengthened controls, lowered energy consumption, cut non-urgent expenses. When the year was over, our three basic businesses—restaurant operations, lodging, airline catering—were healthier than ever. The company's three operating Groups shared