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Hilton Hotels, 1959 Annual Report
Image 9
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Hilton Hotels Corporation. Hilton Hotels, 1959 Annual Report - Image 9. 1959. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. January 25, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/1208/show/1180.

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. (1959). Hilton Hotels, 1959 Annual Report - Image 9. 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/1208/show/1180

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, 1959 Annual Report - Image 9, 1959, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed January 25, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/1208/show/1180.

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, 1959 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1959
Description Hilton Hotels Annual Report for calendar year 1959.
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 9
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_012_009.jpg
Transcript Operating; Results Set New Records revenue: The forward movement of Hilton Hotels Corporation continued uninterrupted with revenues reaching a new high, as they have done each year since the formation of the Corporation in 1946. Gross revenues in 1959 total $221,057,350, an increase of 6.9 per cent over 1958 revenues of $206,789,520. All three major operating departments—rooms, food and beverage —contributed to the higher revenues. An analysis of total revenues, together with the preceding year's comparative figures is as follows: 1959 1958 Rooms $ 94,580,703 88,621,222 Food and beverage 99,709,479 93,141,935 Other operated departments 16,686,079 15,352,986 Store rentals 3.144,339 2,999,609 Office building rentals 1,057,325 1,051,240 Interest on Investments 1,042,852 976,303 Other income 4,836,573 4,646,225 TOTAL $221,057,350 206,789,520 The room occupancy rate for domestic Hilton Hotels during 1959 averaged 69.1 per cent, compared with 69.4 per cent in 1958. The U. S. hotel industry's average room occupancy for the year just concluded was 66 per cent as compared with 67 per cent for 1958. earnings: Earnings from operations rose sharply over 1958, exceeding $10 million for the first time. Operations in 1959 produced net profit of $10,049,857, equal, after preferred dividends, to $2.49 per share on the 3,790,817 shares of common stock outstanding at December 31. In 1958, net profit from operations was $9,446,204, equal, after preferred dividends, to $2.30 per common share on the 3,856,166 shares outstanding at that year-end. This represents an 8.3 per cent gain in the per share earnings. Consolidated net profit in 1959 amounted to $11,582,864, equal to $2.90 per share, compared with $10,845,628, or $2.66 per share for 1958. Both periods included profits realized from the sale of properties in prior years. This source in 1959 contributed $1,533,007, or 41 cents per common share. Profits from property sales were $1,399,424, or 36 cents per share in 1958. These amounts are after provision for income taxes at the capital gains rate. The consolidated figures now exclude operating results of five overseas hotels—The Berlin Hilton, The Castellana Hilton, The Habana Hilton, The Istanbul Hilton and The Nile Hilton. These hotels are now being carried as investments. Their income will be consolidated with that of the parent corporation only when transferred to the United States. The 1958 figures have been restated for an accurate comparison with 1959 by excluding the operations of these hotels. This policy is in accordance with generally accepted accounting principles for operations conducted abroad when warranted by currency or other restrictions or conditions affecting the conduct of business. Hilton Hotels International does not own its hotels, but operates them under leases, generally assigned to subsidiaries organized in the countries where the hotels are located.