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Hilton Hotels, 1951 Annual Report
Image 7
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Hilton Hotels Corporation. Hilton Hotels, 1951 Annual Report - Image 7. 1951. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. May 23, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/1494/show/1473.

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. (1951). Hilton Hotels, 1951 Annual Report - Image 7. 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/1494/show/1473

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, 1951 Annual Report - Image 7, 1951, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed May 23, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/1494/show/1473.

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, 1951 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1951
Description Hilton Hotels Annual Report for calendar year 1951.
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 7
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_004_007.jpg
Transcript The board of directors, thereupon, authorized the Reserve for Contingencies of $1,700,000 to be credited to Capital Surplus. A new reserve of $500,000, deemed adequate for any current contingencies, was created out of Earned Surplus. Mayflower For almost five years a lawsuit has been pending, instituted by certain minority stockholders against the Mayflower Hotel Corporation, its directors, Hilton Hotels Corporation and certain of its directors. This case was finally decided by the Circuit Court of Appeals for the District of Columbia in favor of the defendants on all issues except two very minor points concerning the management contract between the Hilton Hotels Corporation and Mayflower Hotel Corporation. In accordance with the decision, Hilton Hotels Corporation has refunded the sum of $7,684 to Mayflower Hotel Corporation to cover the five year period of the management contract and upon its expiration entered into a new contract from which the objectionable points have been eliminated. In order to eliminate any possible problems with minority interests and also to achieve economies in administrative and corporate expenses and realize the increased efficiency which would accompany the full integration of Mayflower Hotel into the Hilton system, the Board of Directors of both corporations gave careful consideration to a fair and equitable merger plan. Such a plan has been developed and is being submitted to the stockholders of both corporations. Capital Structure The long term debt of the consolidating corporations was $35,493,630 at December 31, 1951, an increase during the year of $1,544,042. A table showing the changes in detail is shown on page 8. In 1951 we drew the remaining $2,500,000 balance of the $7,000,000 mortgage loan on the Conrad Hilton. Additional indebtedness of $1,191,800 was created by Hotel Waldorf- Astoria as part of the purchase price of the R.H.H. Steel Laundry in Jersey City, N.J. The maturing mortgage note of $350,000 covering The Town House was paid and $913,000 of the 5% debentures issued by Hotel Waldorf-Astoria Corporation were retired by operation of the sinking fund. Mortgages on the Palmer House, Plaza and Jefferson, and the unsecured note of the Mayflower Hotel Corporation were also reduced by the prepayments called for under the terms of the loans. 1 I *""% 1 ■ ■ I I ■ i i R i 1 ! 1 I I M ii Hi Ii III! ii HILTON HOTEL, Albuquerque, New Mexico ^b No city in America has experienced more dramatic recent growth than Albuquerque of the unique name, historic past, amazing present and dazzling future. With Army bases and rocket ranges nearby, and a uranium mill announced, the city teams with activity. The Albuquerque Hilton is now host to atomic scientists and construction engineers as well as to cattlemen and sheepmen; to a continuing flood of tourists as well as to Albuquerque and New Mexico businessmen whose favorite phrase is "I'll see you at The Hilton." m @