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Hilton Hotels, 1957 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1957 Annual Report - Image 8. 1957. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. August 12, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/1056/show/1031.

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. (1957). Hilton Hotels, 1957 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 https://digital.lib.uh.edu/collection/hiltonar/item/1056/show/1031

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, 1957 Annual Report - Image 8, 1957, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed August 12, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/1056/show/1031.

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 Hilton Hotels, 1957 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1957
Description Hilton Hotels Annual Report for calendar year 1957.
Subject.Topical (LCSH)
  • Hospitality industry
  • Hotel management
  • Corporation reports
Subject.Name (LCNAF)
  • Hilton Hotels Corporation
Genre (AAT)
  • annual reports
  • business records
Language English
Type (DCMI)
  • Text
  • 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 No Copyright - United States
File Name index.cpd
Item Description
Title Image 8
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_010_008.jpg
Transcript citfc \ s* Earnings Consolidated net profit realized from operations of Hilton Hotels Corporation in 1957 amounted to $8,609,064. This was equal, after preferred dividends, to $2.05 per share on the 3,938,671 shares of common stock outstanding at the close of the year. For 1956, consolidated net profit from operations was $9,587,214, the equivalent of $2.53 per share, after preferred dividends, on the 3,671,602 common shares then outstanding. There were no property sales during 1957. Profits from this source, realized from sales in previous years, were $1,454,554 after deducting applicable capital gains tax and were equal to 37 cents per share. In 1956, owing to extraordinary circumstances which led to the sale of no less than four major properties, profits derived from property sales amounted to a record $7,165,155 after taxes, or $1.95 per common share. Total consolidated net profit of Hilton Hotels Corporation in 1957, after all charges and taxes, amounted to $10,063,618, equal after preferred dividend requirements to $2.42 per share. In 1956, the total consolidated net profit amounted to $16,752,369, equal after preferred dividends to $4.48 per share on the then outstanding common shares. Over-all earnings were affected by heavy expenditures for repairs and maintenance in 1957. This expense rose to a new high of $12,071,637 in 1957 from $10,715,822 the year before. The combined expenditures for repairs and maintenance and modernization in 1957 were $19,715,692, compared with the $19,017,740 so spent in 1956. These expenditures brought to virtual completion a number of major improvement programs covering air conditioning, rewiring and other projects. Modernization costs in 1958 will be substantially below those of 1957. On December 31, 1957, there remained unrealized profit from property sales of prior years in the amount of $17,150,348, which will be applied to your Corporation's income over the next nine years. This profit, after provision for taxes at the current capital gains rate, amounts to $3.26 per share on the 3,938,671 common shares outstanding on December 31, 1957.