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Hilton Hotels, 1953 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1953 Annual Report - Image 10. 1953. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 20, 2017. http://digital.lib.uh.edu/collection/hiltonar/item/1519/show/1504.

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 10. 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/1504

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 10, 1953, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed September 20, 2017, http://digital.lib.uh.edu/collection/hiltonar/item/1519/show/1504.

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 10
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_006_010.jpg
Transcript Maintenance and Modernization 10 Millions of Dollars 5- 4-1 3- 2- 1- 1949 1950 1951 1952 1953 the property for a period of two and one- half years, commencing as of October 1, 1953, the date of sale. In addition, the Corporation obtained an option to purchase a one-half interest in the land on which the hotel is built at any time within the six-month period commencing October 1, 1965, for the sum of $400,000. The sale of The Plaza resulted in a long term capital gain after taxes of $4,067,147, equivalent to $2.52 per share of Hilton common stock. The profit will be reflected in the Corporation income account in future years as installments of the sales price are received. The Town House, which also was one of the hotels owned at the time of the consolidation which formed Hilton Hotels Corporation in 1946, was originally purchased for $1,004,000. The sales price was $3,600,000 as follows: cash of $1,860,000, of which $1,800,000 was the proceeds of a first mortgage placed against the property at the time of sale; a second mortgage note in the sum of $1,100,000; $600,000 in notes of the purchaser maturing in quarterly installments of $120,000 each three months, guaranteed by Mr. R. E. Crummer, and $40,000 in notes of Hilton Hotels Corporation. The sale of the Town House resulted in a long term gain, after taxes, of $1,818,545 or $1.13 a share on common stock. This profit will be taken into the Corporation's income on an installment basis over a period of twelve years. Long Term Debt The consolidated long term debt of Hilton Hotels Corporation on December 31, 1953, amounted to $36,101,844, a reduction of $376,452 from the $36,478,296 debt outstanding a year earlier. A detailed analysis of the changes in debt structure appears in the accompanying- table. (See page 10) An outstanding first mortgage of $4,786,748 on The Plaza was eliminated by the sale of that property. A first mortgage of $1,800,000 placed against The Town House at the time of its sale was assumed by the purchaser and therefore does not appear as a direct obligation of the Corporation. New long term mortgage obligations in the amount of $5,326,429 were assumed in connection with the purchase of the Hotel New Yorker, but the enforcement of the obligations is limited to the property. Mortgages on The Conrad Hilton, Palmer House