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| Title | Marriott Corporation, 1976 Annual Report |
| Creator (LCNAF) |
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| Publisher | Marriott International, Inc. |
| Date | 1976 |
| Description | Marriott Corporation Annual Report for the 52 weeks ending on July 30, 1976. |
| Subject.Topical (LCSH) |
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| Subject.Name (LCNAF) |
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| Genre (AAT) |
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| Language | English |
| Type (DCMI) |
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| 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 |
| Title | Image 14 |
| Format (IMT) |
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| File Name | hiltonar_201609_047_014.jpg |
| Transcript | James E. Durbin President Marriott Hotels Marriott Hotels Group: Outstanding Year from Higher Occupancy, Expansion Marriott Hotels had an excellent fiscal '76. Sales for the full Group increased 25%, and Group profits increased 22%. U.S. hotel profits were up more than 40% — for the largest percentage gain in six years. The outstanding domestic gains were based on strong profit improvement for our comparable hotels and for four new properties opened in fiscal '75. Occupancy system-wide closed the year up 5% — and was above the 80% mark; room rates increased 4%. Five new U.S. hotels with 1,340 rooms were added in fiscal 1976, increasing total rooms 8% to 14,510 at year-end. Franchised Marriott Inns and Marriott World Travel also contributed to Group gains for the year. But international hotels were off from '75. The Condominium division, which had an excellent '75, sold out virtually all of its units at Camelback Inn in the third quarter of fiscal '76. With no inventory available at Camelback and slow condominium sales at the Essex Towers in New York City, profits of this division trailed last year by $1.5 million. Marriott Hotels in the U.S. produced outstanding results for fiscal '76. Sales per man-hour advanced sharply under new productivity improvement programs. Comparable hotels had a strong year. Properties in the "Bicentennial corridor" —including Washington, D.C, Philadelphia, Saddle Brook (N.J.) and Boston —did very well, though much of the anticipated East Coast Bicentennial tourism did not materialize. The Los Angeles Marriott had strong occupancy, completed amortizing its pre- opening costs, and is now a solid profit contributor. The Essex House in New York had its best year ever. Only our hotel in downtown Atlanta, where major competitor hotels added 4,000 rooms during the year, experienced a sales decline in 1976. This is a well-accepted property, however, and it continues as one of our best profit producers. We added five new hotels in fiscal '76 including three company-owned properties. Marriott- designed and constructed hotels opened in 12 |