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Marriott Corporation, 1974 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1974 Annual Report - Image 5. 1974. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. July 16, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/678/show/642.

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 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/678/show/642

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 5, 1974, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed July 16, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/678/show/642.

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 5
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_045_005.jpg
Transcript EARNINGS PER SHARE 1970 1971 1972 1973 1974 1970 1971 1972 1973 1974 1970 1971 1972 1973 1974 of our Roy Rogers concept in the crowded fast food field, and the basic value of our Big Boy Family Restaurants, which are registering the best sales-per-unit gain in years. Sun Line cruise ships present a great challenge to us, as the international travel market runs into difficulty. But we do have unusual flexibility in the marketing of our product, as evidenced by our transfer of the Stella Maris from the Aegean Sea to the Great Lakes in the summer of '74. This winter all three ships will be positioned in exciting itineraries in the Caribbean and Latin America. Improving The Return On Investment Being ready to serve shifting markets is at the core of our corporate strategy. So too is coping with an inflation rate which has escalated interest and construction costs and makes it extremely difficult to earn a good return on investment. Two developments geared directly to improving our return on investment picked up momentum in fiscal 74. Management contracts, which will help us curtail large investments in hotel properties, were signed on six properties. Four we have already mentioned: The two Sea Pines and two Acapulco facilities. Two other contracts will take the Marriott name into the Middle East for the first time. A 700-room Marriott hotel is now under construction in the heart of Cairo, Egypt, and a 500-room hotel will start soon in Tehran, Iran. As this report went to press, we signed a management contract for the largest Marriott hotel anywhere: A new 1200-room, 44 story hotel-retail complex in the heart of Chicago, on North Michigan Avenue. Several other management fee contracts, for both U.S. and overseas markets, are under active negotiation. Likewise our condominium program continues to aid us in our efforts to withdraw capital from some of our existing properties. In the past two years we have raised $10.5 million through the sale of units at Camelback Inn in Arizona. Starting late in fiscal 74, we began marketing a condominium program for Essex House in New York that should allow us to reduce our investment there by several million dollars in the next two years. As we swing more to management contracts for hotels and away from ownership, it is significant to note that over two thirds of the facilities at our 24 hotels are less than six years old . . . that it would cost us at least 50 percent more to replace our hotels at today's construction costs . . . that the average interest rate being paid on mortgages for our existing properties is 7.5 percent, compared with today's rates in excess of 10 percent. And to help keep our properties in like-new condition, we continue an extensive program of maintenance and improvement. Last year alone, $21.6 million was spent on this program. * * * Marriott Corporation today operates 14 different divisions in the food and lodging business whose annual sales range from $10 million to over $150 million, plus many smaller divisions. We believe that this broad diversification will allow us to grow profitably in the years ahead in spite of unsettled economic conditions. (jk L Willa; /Xju*J8T~ Willard Marriott Chairman of the Board Til <1/Cl^c^c^/ ," J. W. Marriott, Jr. President and Chief Executive Officer September 27, 1974