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Hilton Hotels, 1948 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1948 Annual Report - Image 6. 1948. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. November 22, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1243/show/1214.

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. (1948). Hilton Hotels, 1948 Annual Report - Image 6. 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/1243/show/1214

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, 1948 Annual Report - Image 6, 1948, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed November 22, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1243/show/1214.

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, 1948 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1948
Description Hilton Hotels Annual Report for calendar year 1948.
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 6
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_001_006.jpg
Transcript ^fS^^H*^: $2* PRESIDENT'S LETTER To the Shareholders of Hilton Hotels Corporation: We submit to you, the 2,522 shareholders of Hilton Hotels Corporation, our annual report for the year ended December 31, 1948, including auditors' certificate of Harris, Kerr, Forster & Company, consolidated balance sheet and summaries of consolidated profit and loss and surplus accounts. The consolidated financial statements include the wholly-owned subsidiary, Hilton Hotels International, Inc. Gross receipts from business done by the corporation's properties were greater than in any previous year, but earnings for 1948 show a decline from those of 1947, due largely to three factors: 1. A decrease of $1,020,192 in earnings occasioned by a non-recurring loss of $70,684 in 1948 as against a non-recurring profit of $949,508 in 1947. 2. An increase of $723,002 in repairs and maintenance; from $2,080,348 in 1947 to $2,803,350 in 1948. 3. An increase of $308,662 in depreciation; from $1,974,050 in 1947 to $2,282,712 in 1948. Charts and tables accompanying this report afford interesting studies of comparative costs and operating results, and in order to effect better comparisons, figures for three years are given. Hilton Hotels Corporation was created by consolidation as of May 31, 1946. Figures for the year 1946 include seven months' operation by the corporation and five months' operation by the consolidating companies and their predecessors. EARNINGS Gross operating revenues and net profits for the years 1948, 1947 and 1946 were: 1948 $43,171,720 1947 42,543,078 1946 39,483,266 Net profits were: 1948 $ 3,917,805 1947 5,540,159 1946 3,550,547 There were no non-recurring profits in 1948 but, in fact, due to the abandonment of certain equipment at the Plaza, a non-recurring loss of $70,684. The 1947 Net Profit includes $949,508 of non-recurring profits and 1946 includes $10,625. The net profit for 1948 was equal to $2.28 per share on the 1,583,545 common shares outstanding in the hands of the public on December 31st last after providing for dividends on the convertible preference stock. For the year ended December 31, 1947, total earnings were equal to $3.15 per share on the 1,618,578 common shares then outstanding, including 59 cents per common share representing non-recurring profits resulting from the sale of assets. In 1946 earnings were equal to $1.90 per share on the 1,618,377 common shares then outstanding, including one cent per share non-recurring profit.