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Marriott Corporation, 1976 Annual Report
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Marriott International, Inc.. Marriott Corporation, 1976 Annual Report - Image 3. 1976. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. July 6, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/956/show/918.

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.. (1976). Marriott Corporation, 1976 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/956/show/918

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, 1976 Annual Report - Image 3, 1976, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed July 6, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/956/show/918.

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, 1976 Annual Report
Creator (LCNAF)
  • Marriott International, Inc.
Publisher Marriott International, Inc.
Date 1976
Description Marriott Corporation Annual Report for the 52 weeks ending on July 30, 1976.
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_047_003.jpg
Transcript From the Chairman and President: Earnings Rebound Sharply; Fiscal 1976 Gain is Largest in 19 Years /. W. Marriott, Jr. President and Chief Executive Officer }. Willard Marriott Founder and Chairman of the Board r LEFT: The Midwest's tallest hotel, the Marriott, coming to downtown Chicago — 1,214 rooms scheduled to open in early fiscal 1979 COVER: Columbia—The world's largest carousel, at "Marriott's Great America" Marriott Corporation is back on its growth track. Fiscal 1976 was the rebound year we had forecast after that disappointing fiscal '75. The recession is over. Inflation is under better control. Disposable income is increasing. People are on the move —traveling —eating out. And your company just completed the most profitable year in its history. Sales increased 22% and profits soared 41% — Our 10-year compound growth in profits is 20%. Operating gains were across the board: • Four of the five major divisions of the Restaurant Group produced excellent gains. • Our U.S. hotels had an outstanding year. • Airline catering picked up well in our second half and finished the year strongly. • Sun Line Cruises reduced its losses from $5.8 million in 1975 to $1 million in 1976—and made a little money in the fourth quarter. • Our new theme park venture was launched successfully, and customer reaction has been highly enthusiastic. "Marriott's Great America" opened in the Greater San Francisco and Chicago regions in the spring. By early summer, the two parks were profitable. No seasonal park has ever reached two million in attendance its first year, but we have topped that mark at each of our parks. Not everything swung positive in fiscal '76. The Farrell's Ice Cream Parlour Restaurant division and our Security division did not make money. We suffered from the deliberate disposition of airline catering kitchens in Italy in 1975, from the termination of our New York Thruway restaurant contract, and from increased marketing costs purposely incurred to position our Food Service Management organization for future growth. In addition, we wrote off more than $1.3 million in various development costs and in closing certain marginal operations during the year. The 1976 write-offs, reflecting our commitment to improving return on investment (ROI), are double the amount charged in fiscal '75. We are applying rigid new criteria for existing operations and proposed projects, and have laid a strong foundation for long-range ROI improvement. Our balance sheet today is much improved. The successful offering of 1.25 million shares of common stock in February, 1976 enabled us to reduce debt and to materially improve the senior debt to total capitalization ratio from 54% in fiscal '75 to 50% in '76. In total, our Restaurant, Hotels, Business and