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Hilton Hotels, 1950 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1950 Annual Report - Image 6. 1950. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. February 24, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/29/show/5.

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. (1950). Hilton Hotels, 1950 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/29/show/5

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, 1950 Annual Report - Image 6, 1950, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed February 24, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/29/show/5.

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, 1950 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1950
Description Hilton Hotels Annual Report for calendar year 1950.
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_003_006.jpg
Transcript Interest charges in 1950 amounted to $905,306 and principal payments of $725,821 were made on mortgages and notes. The increase in the mortgage on the Stevens was arranged in December 1950 by drawing $2,500,000 additional under the standby agreement with the Equitable Life Assurance Society of the United States. The proceeds together with approximately $300,000 from current funds were used to pay for the stock of the Jefferson Hotel Company and to make the initial payment on the Beverly Hills property. The loan commitment from Equitable, amounting to $7,000,000, was obtained in 1949. The company has utilized $4,500,000 to date for corporate purposes, and the remaining $2,500,000 is available. Capital Structure At the end of 1950 Hilton Hotels Corporation had outstanding 98,077 shares of 4% convertible preference stock of $50 par value and 1,498,217 common shares. You have been advised heretofore of the offers made by the corporation to purchase convertible preference stock at $40 a share on terms which have resulted in the substantial reduction of the amount of this stock outstanding during the past two years. NUMBER OF SHAREHOLDERS z < in z> O X 1946+ $1,148,740 EXPENDITURES FOR IMPROVEMENTS (Includes additions to buildings, leasehold improvements, rehabilitation and revisions and furniture and fixtures) 1947 1948 1949 I 1950 2,285,776 3,313,487 2,258,519 2,028,242 During 1950, 18,188 shares were purchased at that price and at the end of the year 54,564 shares remained under option to the corporation. On January 31, 1951 the corporation exercised its option to purchase 18,188 shares, thus reducing the amount of outstanding convertible preference stock at the date of this report to 79,889 shares of which 36,376 are under option. Your corporation held an option to purchase at their cost of $12.00 a share, without interest (currently quoted at $17.00 a share), 41,666 shares of the Hotel Waldorf-Astoria Corporation common stock owned by Mr. Conrad N. Hilton and Mr. Henry Crown, who had acquired the stock on October 13, 1949. This option was exercised January 23, 1950. In addition, 16,825 shares of Waldorf-Astoria stock were received as the result of an offer made to the other members of the original syndicate to exchange Hilton Hotels Corporation common stock for Waldorf-Astoria stock on a share-for-share basis. These transactions brought our holdings of Hotel Waldorf-Astoria Corporation stock to 212,788 shares, constituting 58.13 per cent of the outstanding stock.