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Hilton Hotels, 1958 Annual Report
Image 12
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Hilton Hotels Corporation. Hilton Hotels, 1958 Annual Report - Image 12. 1958. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. May 27, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1383/show/1358.

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 12. 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/1358

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 12, 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 27, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1383/show/1358.

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 12
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_011_012.jpg
Transcript QiAA TllAjOUAXJLaJL (^^ The financial strength of Hilton Hotels Corporation was further increased in 1958. Working capital at the year-end amounted to $20,917,237, or $5.42 per share of common stock, compared with $15,106,748, or $3.84 per share a year earlier. Current assets totaled $55,032,244, of which cash amounted to $31,392,070. The 1957 year-end balance sheet showed current assets of $44,746,273, including cash of $22,178,587. Unrealized profits from the sale of properties amounted to $15,327,204 at the 1958 year-end. This is equal, after provision for taxes at the current capital gains rate, to $2.98 per share, based on the common shares outstanding at December 31, 1958. This profit will be taken into the Corporation's income as realized over the ensuing eight years. ASSETS MILLIONS 75- 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 THE HILTON DOLLAR INCOME FROM OPERATIONS Rooms Food Beverages Telephone B.. Jf Other Departments Store & Office Building Rentals ,... Other Income EXPENDITURES Payroll & Related Expenses Cost of Goods Sold Other Expenses Repairs and Maintenance (excluding payroll). Property Taxes Lease Rentals Interest on Borrowed Money. . Income Taxes Dividends Depreciation Reinvested in the Business. .. . 42.5^ 33.0 12.4 3.0 4.4 2.0 2.7 $1.00 40.0?! 17.3 14.2 3.0 3.4 8.2 1.4 4.5 2.4 4.0 1.6 $1.00 <3jhr\q RaMqe^ ^3i^LX^jciMjO[ Regular installments on the Company's funded and long term debt were paid in 1958 in the total amount of $7,416,697, in addition to the conversion into common stock of $488,300 of Ay2% fifteen- year convertible debentures. These reductions are detailed in the accompanying analysis. The long term debt was increased by three transactions. One was a $13,000,000, five-year, 5% term loan from a group of banks headed by The First National Bank of Boston. Repayments on this loan are being made from the proceeds the Company receives from certain property sales made in prior years. Hilton Hotels International, Inc., drew down $500,000 pursuant to the provisions of a loan agreement with The First National Bank of Boston, represented by a three-year 5% promissory note. The debentures of Metropolitan Hotel Corporation, of which $2,750,000 are outstanding in the hands of the public, were issued in connection with the financing of the Hilton Hotel in Portland, Oregon.