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Hilton Hotels, 1962 Annual Report
Image 23
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Hilton Hotels Corporation. Hilton Hotels, 1962 Annual Report - Image 23. 1962. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. July 4, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/120/show/102.

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. (1962). Hilton Hotels, 1962 Annual Report - Image 23. 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/120/show/102

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, 1962 Annual Report - Image 23, 1962, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed July 4, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/120/show/102.

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, 1962 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1962
Description Hilton Hotels Annual Report for calendar year 1962.
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 23
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_015_023.jpg
Transcript RECEIPTS FROM OPERATIONS Rooms 42.7?! ^i Food 32.6jzf ^N Beverage 12.6^ Telephone 2.7£ 7- Other departments 4.8?! A Store and office building rentals 1.9?! A Other income 2.7?! EXPENDITURES Payroll and related expenses 40.2?! ^1 Cost of goods sold 17.1?! ^ Other expenses 15.3?! Repairs and maintenance q cj (excluding payroll and related expenses) N Property taxes 4.0?! H~* A Lease rentals 6.3?! Jl Interest 3.0?! -A Income taxes 2.2?! Ji Dividends 2.( J[ Depreciation 5.7?! Hilton Credit has been operating its Carte Blanche all-purpose credit card plan profitably during its current fiscal year which began May 1, 1962. However, in the three years since commencement of operations to April 30, 1962, Hilton Credit Corporation had losses in excess of $9,000,000. Bank indebtedness of $12,150,000 has been extended for an additional year and the $5,000,000 of subordinated notes, $1,900,000 of which are held by Hilton Hotels Corporation, have been extended for a like period. The contract under which Hilton Hotels sells, at a discount, certain of its accounts receivable to Hilton Credit expires March 31, 1963, and will be continued from month to month. The maturity of Hilton Credit's debt in 1964, the expiration of the contract with Hilton Hotels and the uncertainty of the discount rate to be charged in the future were factors influencing your directors to make the offer to the shareholders of Hilton Credit Corporation. Hilton Hotels owns a 50 per cent stock interest in each of the following non-consolidated companies: Hilton-Burns Hotels Company, Inc., owner of the Hilton Hawaiian Village; The Kahala Hilton Hotel Company, Inc., which is building The Kahala Hilton; Hilton-Uris, Inc., which is building The Washington Hilton, and Hilton-Dorval Limited, which is building the Montreal Airport Hilton. Hilton Hotels also has a 25 per cent interest in Rock-Hil-Uris, Inc., which is building The New York Hilton. Hilton's interests in these hotels are carried as investments, thus their operating results will not be included in the statement of consolidated income of Hilton Hotels. The Corporation will receive management fees, interest on debentures and dividends paid by the operating companies. The investments of the Corporation were reduced from $24,155,504 at December 31, 1961, to $21,943,356 at December 31, 1962. The reduction resulted primarily from the merger of Statler Hotels Delaware Corporation into Hilton Hotels Corporation, whereby a note of Statler Hotels Delaware Corporation owned by the Corporation was eliminated. The wholly-owned subsidiary, Hilton Hotels International, Inc., has relatively small investments in hotels in Rome, Amsterdam, Rotterdam, Dublin and Paris (Orly Airport). 21