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Marriott Corporation, 1976 Annual Report
Image 25
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Marriott International, Inc.. Marriott Corporation, 1976 Annual Report - Image 25. 1976. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. August 11, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/956/show/940.

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 25. 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/940

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 25, 1976, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed August 11, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/956/show/940.

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 25
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_047_025.jpg
Transcript SALES & OPERATING PROFITS BREAKDOWN Contributions by Principal Lines of Business Fiscal Years Ended in July (Dollars in Millions) 1976 (53 Weeks) $ % SALES Restaurant Operations 299.2 34 Business and Professional Services 278.1 31 Hotels and Related Operations 269.6 30 Theme Parks 36.0 4 Cruise Ships 7.5 1 Total Sales 890.4 100 OPERATING PROFIT Restaurant Operations 15.1 Business and Professional Services 14.5 Hotels and Related Operations 15.9 2.4 (1-0) 46.9 4.9 51.8 32 31 34 5 J2) 100 Theme Parks Cruise Ships Total Operating Profit Non-Operating Income Income Before Income Taxes . . ( ) Indicates loss Operating profit reflects the allocation of administrative, advertising and other overhead costs, including an imputed rent charged on owned real estate and ships. It does not include financial and non-operating items such as imputed and actual rent profit on owned real estate; interest expense less interest income; capital gains; and franchise taxes, donations and other miscellaneous items which are reported as non-operating income. 1975 $ % 34 253.1 256.4 35 216.5 30 6.4 1 732.4 100 40 14.2 14.0 39 13.0 37 (5.8) 06) 35.4 100 3.0 38.4 1974 $ % 32 203.7 236.2 37 190.4 30 10.1 1 640.4 100 34 12.9 13.1 34 13.7 36 (1.6) Jl) 38.1 100 4.0 42.1 1973 $ % 31 165.4 204.0 38 161.9 30 6.9 1 538.2 100 8.9 29 10.5 33 11.7 37 0.2 1 31.3 100 4.3 35.6 1972 30.6 % 134.3 32 164.9 39 120.1 28 3.6 1 422.9 100 7.6 28 9.8 36 9.4 34 0.5 2 27.3 100 3.3 The above figures include results of operating units outside the United States. Relative contributions of foreign operations to total consolidated sales and operating profit were respectively, 8% and 1% in 1976, 10% and (10%) in 1975, 11% and 8% in 1974, 10% and 11% in 1973, and 9% and 13% in 1972. 1976 Compared to 1975 The many factors that affected fiscal 1976 results in comparison with the depressed prior year are discussed in preceding pages of this Annual Report. In summary, the major contributors to our 32% gain in operating profits were the $4.8 million turn-around in Sun Line cruise operations, higher occupancy rates at U.S. hotels, increased airline catering sales in the second half of 1976, excellent results in four of the five major restaurant divisions and the successful opening of two "Great America" theme parks. The increase in non-operating income resulted primarily from imputed rent charged to the theme parks and other operations on owned real estate. Net capital gains were less than $400,000 in both years. The increases in costs and expenses were generally the result of increases in sales, operating units and employees. The only expense that increased at a significantly faster rate than sales was advertising and sales promotion—up 53% as a result of a continuation of the expanded marketing program initiated by the Hotels Group in fiscal 1975 and because of promotion for the two theme parks opened during 1976. The Company's effective net income tax rate decreased from 43.2% to 40.4% primarily because the investment tax credit accrued for the two theme parks offset a slight increase in the gross tax rate provision from 50.9% to 51.8%. 1975 Compared to 1974 Sales increased 14% because of an increase in operating units, higher prices and higher customer counts in some restaurant operations. Combined operating profits of the three principal operating Groups (excluding Sun Line) increased moderately 23