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Hilton Hotels, 1962 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1962 Annual Report - Image 8. 1962. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. August 10, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/120/show/87.

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 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/120/show/87

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 8, 1962, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed August 10, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/120/show/87.

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 8
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_015_008.jpg
Transcript President's Letter TO OUR SHAREHOLDERS: During 1962, Hilton Hotels Corporation moved much closer to its goal of having sufficient coverage of the vital cities of the Free World to achieve the benefits of truly global operations. With the opening of 11 hotels in 1963, the Corporation will reach a reasonable approximation of this goal. To gear itself for this unique opportunity, as well as to offset negative trends brought on by excess capacity within the United States hotel industry, the Corporation in the year just ended expanded its national sales and convention organization. We extended the instant reservation service to a total of 189 cities, re-emphasized training of executives and employees, introduced efficiency measures to combat rising costs without affecting the quality of service and signed contracts for nine new hotels in carefully selected cities. A number of improvements have been made in the Corporation's financial structure. Statler Hotels Delaware Corporation has been merged into Hilton Hotels, which permits the disposition of those hotels which we believe can be operated more profitably by local interests. The Corporation, through sale of The Savoy Hilton and the land under The Palmer House, lightened its investment in domestic fixed assets and utilized some of the proceeds to retire outstanding securities. In January, 1963, the Corporation purchased 300,000 shares of its common stock for the treasury. The purpose of this purchase was to offset shares heretofore issued to acquire certain properties no longer owned by the Corporation. During the present year, every effort will be made to improve further the Corporation's financial position. Many of these actions were of a long range nature and thus did not have a significant impact on 1962 operations. Due to increased capital gains from sales of properties, consolidated earnings were the highest in the history of the Corporation. Earnings from operations in 1962, based on the number of shares outstanding after giving effect to the reduction of 300,000 shares subsequent to the year-end, were slightly higher than in 1961. Based on the shares outstanding at the end of 1962, operating earnings were lower than in 1961, because of the continued increase in operating expenses. New projects, on which