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Hilton Hotels, 1962 Annual Report
Image 19
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Hilton Hotels Corporation. Hilton Hotels, 1962 Annual Report - Image 19. 1962. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. August 14, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/120/show/98.

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 19. 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/98

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 19, 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 14, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/120/show/98.

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 19
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_015_019.jpg
Transcript ANALYSIS OF CONSOLIDATED LONG-TERM DEBT BALANCE DECEMBER 31, 1961 ADDITIONS DURING 1962 REDUCTIONS DURING 1962 BALANCE DECEMBER 31, 1962 MORTGAGE BONDS AND NOTES The Palmer House $ 9,760,000 The Conrad Hilton 4,000,000 The Shamrock Hilton 10,254,138 The Terrace Hilton 6,608,541 The Savoy Hilton 1,883,810 The Pittsburgh Hilton 12,000,000 The Portland Hilton 890,000 The New Orleans Hilton Inn 2,024,038 Hawaiian Village Development Co 3,246,000 The Atlanta Hilton Inn — Palmer House Company — Los Angeles Statler Hilton — Dallas Statler Hilton — Statler System Mortgage — Boston Statler Hilton — Washington Statler Hilton — Hilton Inns, System Mortgage — DEBENTURES 2% Hilton due 11/1/64 1,500,000 4V2% Hilton due 1/1/70 2,127,000 6% Hilton due 10/15/84 28,800,000 4% Metropolitan (Portland) due 7/1/83 2,750,000 OTHER NOTES Installment purchase contract 1,850,000 Waldorf-Astoria Laundry 397,020 Hilton Hotels International 96,713 Hawaiian Village Development Company 462,500 Amsterdam Hilton Hotel — Sundry 109,694 TOTAL $88,759,454 1,500,000 10,500,000 8,046,217 4,952,896 42,011,482 10,000,000 12,000,000 8,460,000 52,800 140,050 180,000 97,843,445 9,760,000 175,000 215,991 218,818 1,883,810 63,384 250,000 24,225 15,225 533,108 178,854 32,791,662 450,000 273,000 789,000 90,554 320,000 40,720 96,713 26,902 15,437 48,212,403 3,825,000 10,038,147 6,389,723 12,000,000 890,000 1,960,654 2,996,000 1,475,775 10,484,775 7,513,109 4,774,042 9,219,820 10,000,000 12,000,000 8,460,000 1,050,000 1,854,000 28,011,000 2,659,446 1,530,000 356,300 488,398 140,050 274,257 138,390,496 Long-term indebtedness at the year end was $138,390,496, compared with $88,759,454 a year earlier. This equalled 56 per cent of the book value of the fixed assets, investments at cost and working capital. The substantial increase in long-term indebtedness came with the assumption of the $42,011,482 balance of the Statler system mortgage, and $12,999,113 in individual mortgages on the Dallas and Los Angeles Statler Hilton hotels. The interest on this additional debt is more than offset by the elimination of lease rental on the Statler properties under the lease in existence prior to the merger. During the year $10,791,662 was prepaid on the Statler system mortgage and an additional $22,000,000 was refinanced by placing individual mortgages on the Boston and Washington Statler Hilton hotels. It is contemplated that the remaining $9,219,820 of the Statler system mortgage will be retired in 1963. The restrictive provisions formerly contained in the Statler system mortgage have been eliminated. An agreement for a $15,000,000 mort- ASSETS MILLIONS OF DOLLARS 300 200 " 50 - 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 17