Keyword
in
Collection
Date
to
Marriott Corporation, 1978 Annual Report
Image 4
Citation
MLA
APA
Chicago/Turabian
Marriott International, Inc.. Marriott Corporation, 1978 Annual Report - Image 4. 1978. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 20, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/828/show/791.

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.. (1978). Marriott Corporation, 1978 Annual Report - Image 4. 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/828/show/791

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, 1978 Annual Report - Image 4, 1978, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed September 20, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/828/show/791.

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.

URL
Embed Image
Compound Item Description
Title Marriott Corporation, 1978 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1978
Description Marriott Corporation Annual Report for the year ending on July 31, 1978.
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 4
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_049_004.jpg
Transcript 1978: A Year of Great News... On Profits, Margins, ROI, Debt Ratio, Cash Flow, Dividends, Expansion 74 75 76 77 78 $640 $732 $890 $1,026 $1,177 Sales (In Millions) 2 %j|r"» We are proud to report an exceptional fiscal 1978. We set high goals for your company last year as we embarked on our second 50 years. And 1978 was better than expected. We met or exceeded a long list of specific objectives: Sales were up 15%, to almost $1.2 billion. Profits increased 30%— reaching $46 million. Profit margins improved. Cost controls made a great contribution. High-profit operations were expanded. More non-productive or marginal assets were disposed of. A $92 million transaction improved our financial structure and helped assure dramatic expansion into the 1980s. Return on investment jumped to 13.1% from 11.3% —on its way to our goal of 15% by 1982. Debt dropped to 38% of total capital, from 45%. Cash flow exceeded $100 million for the first time. And cash dividends were instituted. MARRIOTT HOTELS finished an outstanding year with profits up 29% over '77. Our systemwide occupancy rate of over 80% remains at the top of the hotel industry. One distinction continues to tell the story of Marriott's leadership in lodging. We now have 23 hotels honored with the prestigious Mobil Travel Guide's "4-Star" rating. This is more than twice as many awards as any other hotel system. RESTAURANT OPERATIONS also had a very good '78 despite severe winter weather, higher food costs, and the first of a series of recently legislated increases in the federal minimum wage. The Group slowed in the second half but finished the year with an increase in profits of 21%. CONTRACT FOOD SERVICES' profits were up 8%. International In-Flite Services and the Highway and Terminal Restaurant divisions did well, and Food Service Management improved. But an airline strike and cutbacks in meal service by airlines penalized catering profits in the United States. THEME PARKS are concluding their third season as this is written. The season started slowly, but attendance came along well in the summer of 78. On the fiscal year basis ending July, however, profits were off slightly. Higher property taxes and depreciation hurt comparisons. And the prior year did not bear the full burden of off-season expenses. SUN LINE CRUISES almost doubled earnings from operations. The ships have had quite a rebound the past three years. They're making a good contribution today. Two high-priority areas in which management had remarkable results the 74 75 76 77 78 $24.2 $21.1 $30.2 $35.5 $46.1 Net Income (In Millions)