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Marriott Corporation, 1978 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1978 Annual Report - Image 36. 1978. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 18, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/828/show/823.

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 36. 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/823

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 36, 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 18, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/828/show/823.

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 36
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_049_036.jpg
Transcript Financial History-1978 to 1968 (Dollars in Thousands, Except Per Share Amounts) 1978 1977 1976 1975 (53 Weeks) Summary of Operations (Note A) Sales 1,176,541 1,026,313 890,403 732,396 Percent increase for the year 14.6% 15.3% 21.6% 14.4% Cost of sales and other expenses 1,068,537 935,981 815,080 673,542 Interest cost 31,842 32,131 35,224 32,194 Interest capitalized 3,618 1,938 10,432 10,353 Income before income taxes 79,780 60,139 50,531 37,013 Per sales dollar 6.8% 5.9% 5.7% 5.1% United States and foreign income taxes 38,717 28,734 26,202 18,867 Percent to income before income taxes 48.5% 47.8% 51.9% 51.0% Investment tax credit 5,060 4,100 5,900 2,975 Net income 46,123 35,505 30,229 21,121 Percent increase (decrease) for the year 29.9% 17.5% 43.1% (12.6%) Per sales dollar 3.9% 3.5% 3.4% 2.9% Funds provided from operations (Note B) 113,741 95,665 88,309 70,821 Capital expenditures 103,759 74,613 146,560 161,488 Capitalization and Returns Total capital (Note C) 794,408 795,458 788,379 692,734 Shareholders' investment 396,489 351,573 312,915 251,913 Senior debt and capital lease obligations 303,155 360,195 398,210 374,997 Percent to total capital 38.2% 45.3% 50.5% 54.1% Return on beginning shareholders' invest ment (after-tax) 13.1% 11.3% 12.0% 9.3% Return on beginning total capital Based on earnings before interest and taxes 13.6% 11.5% 10.9% 10.1% Based on funds from operations and after tax interest 16.1% 14.1% 14.6% 14.0% Per Share Data (Note D) Earnings—assuming no dilution 1.26 .97 .86 .62 —assuming full dilution 1.22 .95 .84 .61 Dividends (stock: 1977-1968) .12 2.5% 2.5% 2.5% Shareholders' investment 10.76 9.59 8.58 7.38 Quoted market price at year-end 13.38 9.88 13.90 12.49 Other Data (Note D) Weighted average shares outstanding 36,667,663 36,568,300 35,222,603 33,911,237 n Shares outstanding 36,855,351 36,668,489 36,456,203 34,152,496 Shareholders 52,200 52,800 47,000 43,200 Full- and part-time employees 68,500 61,700 60,600 46,200 Operating units 892 843 825 774 Company-operated hotel rooms 16,993 14,695 14,510 13,393 NOTES: (A) See Notes to Consolidated Financial State- (B) Funds provided from operations consist of (C) Total capital represents total assets ments for summary of significant accounting net income plus depreciation, deferred taxes less current liabilities. policies and additional information. and other expenses not requiring current outiay of working capital. 34