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Hilton Hotels, 1958 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1958 Annual Report - Image 8. 1958. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. May 25, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1383/show/1354.

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. (1958). Hilton Hotels, 1958 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/1383/show/1354

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, 1958 Annual Report - Image 8, 1958, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed May 25, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1383/show/1354.

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, 1958 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1958
Description Hilton Hotels Annual Report for calendar year 1958.
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_011_008.jpg
Transcript G?ftoss Revenues omA. SoJwM^qs Jvuca&oa&cLs. ., revenues: The dynamic character of Hilton Hotels Corporation is evidenced by the fact that, despite the recession, gross revenues continued their unbroken climb, which dates back to the founding of the Company. Gross revenues rose to $215,092,441 from $205,311,024 in 1957, a five per cent increase. During the first six months of 1958, the hotel industry, in common with United States industry in general, felt acutely the effects of the sharpest postwar recession yet experienced. The industry's average room occupancy for this period dropped five percentage points below that for the corresponding period of the preceding year. In the final six months of the year, as the resilient United States economy recovered from its temporary set-back, the sharp downward trend of room occupancy eased somewhat. For the year as a whole, room occupancy for the industry averaged 67 per cent, compared with 70 per cent in 1957. While your Company could not escape the effects of the business readjustment in 1958, it experienced higher occupancy than the industry as a whole. The average room occupancy for the 33 hotels in the organization last year was 69 per cent, or two percentage points above the average of the industry. Revenues accounted for by the Company's various operating departments, together with the previous year's comparative figures, were as follows: 1958 1957 Rooms $ 91,337,695 $ 87,637,170 Food and Beverage 97,716,369 92,342,835 Other Operated Departments.. 15,981,552 15,546,591 Store Rentals 3,226,803 3,043,641 Office Building Rentals 1,051,240 1,038,372 Interest on Investments 986,424 1,028,392 Other Income 4,792,358 4,674,023 TOTAL $215,092,441 $205,311,024 earni NGS:Earnings improved modestly over 1957, a significant achievement in view of the lower occu pancy attributable to the year's economic uncertainties. Consolidated net profit amounted to $10,103,190 in 1958. This was equal, after preferred dividends, to $2.47 per share on the 3,856,166 shares of common stock outstanding at December 31, 1958. In 1957, consolidated net profit was $10,063,618, or $2.42 per share on the 3,938,671 shares of common stock then outstanding. Both periods include substantially equal profits from the sale of properties in prior years. The gain from this source included in the 1958 net profit was $1,399,424, equal to 36 cents per common share. In 1957, the figure was $1,454,554, or 37 cents per share. Both figures are after provision for income taxes at the capital gains rate. Operations in 1958 produced net profit of $8,703,766, which was equal to $2.11 per share on the common stock. In 1957, net profit from operations was $8,609,064, or $2.05 per common share. The increase in per share earnings from operations amounted to three per cent. Percentage-wise, earnings did not increase as much as revenues. Repairs and maintenance expenditures, aimed at keeping the Company's properties in their traditional excellence, continued at a high level but were below those of 1957, reflecting the completion of major modernization projects. However, the savings were more than offset by losses experienced at The Habana Hilton, resulting from the political turbulence in Cuba. Because of these losses, Hilton Hotels International made no contribution to 1958 earnings, whereas it contributed $376,232 to earnings in 1957. The 250,000 shares of common stock of Hotel Corporation of America held by the Company were sold at $6.00 per share, at which amount the shares were carried on the books of the Company.