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Hilton Hotels, 1957 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1957 Annual Report - Image 10. 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/1033.

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 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 https://digital.lib.uh.edu/collection/hiltonar/item/1056/show/1033

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 10, 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/1033.

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 10
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_010_010.jpg
Transcript ur Fin i I Pictur At December 31,1957, total assets of Hilton Hotels Corporation on a consolidated basis, amounted to $197,518,638, an increase of $10,204,727 over the $187,313,911 of a year earlier. Of the total consolidated assets, the largest portion represented fixed assets such as properties, hotels and their associated equipment. The depreciated value of fixed assets at December 31, 1957, amounted to $119,445,817, which compares with $104,745,385 a year earlier, a net increase of $14,700,432. The depreciation and amortization reserve'at the 1957 year end was $52,813,345. Your Corporation's current assets at December 31, 1957, were $44,746,273, which compared with current liabilities of $29,639,525. Working capital amounted to $15,106,748. At December 31, 1956, current assets were $46,258,557, current liabilities were $30,435,584 and working capital was $15,822,973. Capital Changes . . . The number of outstanding shares of common stock of Hilton Hotels Corporation increased during 1957 by 267,069 shares to 3,938,671. Of the increase, 87,080 shares resulted from the conversion of $1,926,400 principal amount of the Corporation's 414% convertible debentures to common stock. In addition, 233,214 shares of common stock were issued in exchange for stock of Savoy-Plaza, Inc., of which company's stock the Corporation at the year end owned 83%%. 53,225 common shares were added in 1957 to those held in the treasury bringing treasury shares to 497,050 at December 31. Conversion privilege on the 4lA% convertible deben tures expired January 2, 1958, on which date an additional $488,300 in principal amount were converted into 21,929 shares of common stock. This leaves $2,235,000 of these debentures outstanding. In connection with the acquisition of the stock of Savoy-Plaza, Inc., 233,214 shares of $25 par value 5A% Cumulative Voting Preferred Stock, Series A, were also issued. The common stock of Hilton Hotels Corporation at December 31, 1957, had a book value of $20.35 per share compared with a book value of $18.96 a share at the end of the preceding year. Long Term Debt. . . The Corporation's consolidated long term debt was reduced in 1957 to $62,935,636 from $66,780,018, as of December 31, 1956. Except for the conversion of 4lA% convertible debentures into common stock, reduction was made through normal repayment of loans and amortization of other debt. An analysis of your Corporation's consolidated long term debt appears on the facing page showing additions and reductions in detail. The principle additions consisted of a 4% mortgage note of Savoy-Plaza, Inc., which amounted to $2,368,759 at December 31, 1957, and the issuance of $300,000 in 5% notes by Hilton Hotels International, Inc. Your Corporation recently concluded a 5-year term loan for $13,000,000, at 5% interest, with a nationwide group of banks headed by The First National Bank of Boston. The payments thereon will be equal to the amounts receivable by your Corporation from notes ac- 8 7-