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Hilton Hotels, 1953 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1953 Annual Report - Image 8. 1953. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. November 20, 2017. http://digital.lib.uh.edu/collection/hiltonar/item/1519/show/1502.

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.

Hilton Hotels Corporation. (1953). Hilton Hotels, 1953 Annual Report - Image 8. Annual Reports from the Hospitality Industry Archives. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. Retrieved from http://digital.lib.uh.edu/collection/hiltonar/item/1519/show/1502

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.

Hilton Hotels Corporation, Hilton Hotels, 1953 Annual Report - Image 8, 1953, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed November 20, 2017, http://digital.lib.uh.edu/collection/hiltonar/item/1519/show/1502.

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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Title Hilton Hotels, 1953 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1953
Description Hilton Hotels Annual Report for calendar year 1953.
Subject.Topical (LCSH)
  • Hospitality industry
  • Hotel management
  • Corporation reports
Subject.Name (LCNAF)
  • Hilton Hotels Corporation
Genre (AAT)
  • annual reports
Language English
Type (DCMI)
  • Text
  • Still Image
Original Item Location Conrad N. Hilton Papers
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 This image is in the public domain and may be used freely. If publishing in print, electronically, or on a website, please cite the item using the citation button.
File Name index.cpd
Item Description
Title Image 8
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_006_008.jpg
Transcript able to acquire the minority interest in The Waldorf-Astoria and the merger plan was then worked out. The plan provided that the minority holders of Waldorf-Astoria stock would receive 134 shares of Hilton common for each share of Waldorf-Astoria common. The holders of 19,299M shares of Waldorf-Astoria common accepted the merger provisions and will receive stock certificates for 24,125 shares of Hilton common being issued to them. The holders of 21,371 shares of Waldorf-Astoria common requested payment in cash for their shares and the Corporation has offered them the equivalent in cash of the market price of the Hilton stock at the time of the merger. Unless the price is agreed upon, an appraisal proceeding will be had to determine the fair market value of this stock. Upon the consummation of the merger, the Waldorf-Astoria assets were conveyed to a new wholly owned subsidiary of Hilton Hotels Corporation, which has also been named Hotel Waldorf- Astoria Corporation. The consummation of the merger brought to a successful conclusion the program of your Corporation to simplify its corporate structure. There are now no minority interests in any of your Corporation's subsidiaries. Foreign Expansion During the year our wholly owned subsidiary, Hilton Hotels International, Inc., also continued its unique expansion in the foreign field. The pattern of this expansion follows the successful precedent set in the case of the Caribe Hilton in San Juan, Puerto Rico, in which a governmental agency, the Puerto Rico Industrial Development Company, built and furnished the hotel and leased it to your Corporation. The lease provides for Hilton to supply the necessary working capital and pay two-thirds of the gross operating profit as rental. Last year saw the opening of our first hotel in Europe, the Castellana Hilton in Madrid, Spain. This modern 338 room structure, built by Spanish interests at a cost of $3,200,000, and leased by your Corporation brought to Spain for the first time the service and convenience found in domestic Hilton hotels. The formal opening of the Castellana Hilton on July 13 was celebrated by a three-day festival attended by dignitaries, officials and celebrities from all parts of the world. The Castellana Hilton operations have been profitable from its opening. Construction of the Istanbul Hilton in Istanbul, Turkey, proceeded satisfactorily throughout the year and plans are being Wages, Taxes and Dividends 40 35 30 25 20 15 10 Millions of Dollars ^* Wages — -.__ Taxes Dividends 1949 1950 1951 1952 195 made to open the hotel under lease arrangement during the late summer of 1954. In the meantime, an intensive training program of Turkish personnel is being carried on, both in this country and in Turkey, so that from its opening the Istanbul Hilton will be able to take its place among the other fine Hilton hotels wherever located. A lease for a new hotel to be constructed in Havana, Cuba, was also entered into in 1953, as well as a preliminary agreement for the leasing of a new •^4,495.242' 9- 668,5/2 #53 J TAXBS 1*940,128* £>iV!t>£NDs 1