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Marriott Corporation, 1978 Annual Report
Image 26
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Marriott International, Inc.. Marriott Corporation, 1978 Annual Report - Image 26. 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/813.

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 26. 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/813

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 26, 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/813.

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, 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 26
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_049_026.jpg
Transcript Contributions By Principal Business Segments Fiscal Years Ended in July (Dollars in Millions) 1978 1977 1976 1975 1974 (53 Weeks) Sales $ % 32 $ % 30 $ % 30 $ % 30 $ % Hotels Group 372.3 309.3 269.6 216.5 190.4 30 Contract Food Services 367.8 31 320.2 31 278.1 31 256.4 35 236.2 37 Restaurant Operations 330.9 28 307.5 30 299.2 34 253.1 34 203.7 32 Theme Parks 76.4 7 68.7 7 36.0 4 — — — — Cruise Ships and Other 29.1 2 20.6 2 7.5 1 6.4 1 10.1 1 Total sales 1,176.5 100 1,026.3 100 890.4 100 732.4 100 640.4 100 Operating Profit (a) Hotels Group 60.3 48 46.6 45 35.7 41 31.2 47 29.4 46 Contract Food Services 21.8 18 20.2 19 20.0 23 19.0 29 17.5 27 Restaurant Operations 27.0 22 22.3 21 23.6 27 21.2 32 18.7 29 Theme Parks (b) 11.5 9 12.1 12 8.0 9 — — — — Cruise Ships and Other 4.2 3 3.2 3 (0.5) ir*f?3 (5.2) (8) (1.0) (2) Total operating profit 124.8 100 104.4 100 86.8 100 66.2 100 64.6 100 Interest, net 28.2 30.2 24.8 21.8 19.1 Corporate Expenses and Income (c) 16.8 12.2 11.5 7.0 4.5 Income Before Dispositions and Income Taxes 79.8 62.0 50.5 37.4 41.0 Dispositions of Businesses(d) — (1.9) - (0.4) - Income Before Income Taxes 79.8 60.1 50.5 37.0 41.0 ( )Indicates loss (a) Operating profit represents total operating results before interest, corporate administrative expense, unallocated corporate charges and dispositions. Years prior to 1978 have been restated to conform with the requirements of Statement of Financial Accounting Standards No. 14 in regards to Contributions by Principal Business Segments as well as to give effect to the retroactive capitalization of leases as required by Statement of Financial Accounting Standards No. 13. (b) Theme Parks operating results for fiscal 1978 are not comparable with fiscal 1977 primarily because the prior year did not bear the full burden of off-season costs. (c) Corporate expenses and income represents corporate administrative expense, capital gains and other items which are not of an operating nature. Fiscal 1978 includes the write-off of $3.4 million of costs related to a proposed third theme park in the Washington, D.C. area. This was substantially offset by gains on the sale of excess land adjacent to the California theme park. (d) The loss on dispositions in 1977 reflects the net pre-tax loss on the divestment of the Frankfurt and Athens flight kitchens and the security alarm business. After tax, the dispositions resulted in a minor net gain due to realization of previously unaccrued tax benefits on prior operating losses. 24