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Hilton Hotels, 1950 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1950 Annual Report - Image 7. 1950. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. October 22, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/29/show/6.

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 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/29/show/6

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 7, 1950, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed October 22, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/29/show/6.

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 7
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_003_007.jpg
Transcript A comparison of the outstanding capitalization at December 31, 1950 and December 31, 1949 is shown in the following table: December December 31, 1950 31, 1949 Long Term Indebtedness . . . $28,082,208,-88 $23,758,030.40 4% Convertible Preference Stock ($50 par) 4,903,850.00 5,813,250.00 Common Stock ($5 par)... . 7,978,100.00 7,974,100.00 Capital & Earned Surplus and Surplus Reserve 20,317,280.76 17,971,583.51 $33,199,230.76 $31,758,933.51 Deduct Cost of Treasury Common Stock _ 939,884.32 1,109,118.94 $32,259,346.44 $30,649,814.57 4% CONVERTIBLE PREFERENCE STOCK — Shares Outstanding 98,077 116,265 COMMON STOCK — Shares Outstanding 1,498,217 1,480,592 Book Value Per Share of Common Stock After Deducting Par Value of 4% Convertible Preference Stock $ 18.26 $ 16.77 Net working capital on December 31, 1950 amounted to $3,819,172, an increase of $70,885 during the year. Current assets totaled $10,278,730, of which $6,540,045 was in cash or equivalent, compared with current assets of $9,091,470 at the end of 1949. Current liabilities at the close of 1950 were $6,459,559, as against $5,343,183 on December 31, 1949. The ratio of total current assets to current liabilities on December 31, 1950 was 1.59 to 1, compared to 1.70 to 1 at the close of 1949. Book value per share of Hilton Hotels Corporation common stock on December 31, 1950 amounted to $18.26. This compared with $16.77 a share on the same date of 1949, and $5.90 a share when the company was organized on June 1, 1946. Income Tax Claim The Commissioner of Internal Revenue has asserted claims for income and excess profits taxes against Hilton Hotels Corporation in the amount of $2,240,895.67. The claims are based on the tax returns filed by the Stevens Hotel Corporation for 16 15 o Q u_ O 14 in z O 13 CASH PAYROLL ^00t0mmmamm^ / I \ f \ ^f the year 1945 and the first five months of 1946 and on the returns filed by Hilton Hotels Corporation for the last seven months of 1946 and the years 1947 and 1948. The main point at issue is the disallowance of a large loss carryover from the year 1943 to 1945. Protests to the Agents' reports have been filed and the bureau's claim will be resisted to the fullest extent. Operating Profit The year's operations of the corporation and its wholly owned subsidiaries resulted in increased revenues, higher operating profit and a rise in the rate of operating profit. Combined departmental revenues derived from actual operation of the hotels, without reference to commercial rentals, and before the deduction of TAXES AND INCOME (Taxes include payroll taxes, franchise taxes, real estate and personal property taxes and income taxes) such items as rent, taxes and insurance, amounted to $44,521,226 in 1950, compared with $41,162,079 in 1949. Operating profit increased to $11,814,297 from the preceding year's $10,604,706, and the rate of operating profit rose from 25.8 per cent to 26.5 per cent. At the time Hilton Hotels Corporation was organized in 1946, it was apparent to your management that the hotel business had lagged behind other industries in utilizing all available means of stepping up operating efficiency. Accordingly, studies were made of many problems involving the use of manpower and the application of budgetary control to the financial aspects of hotel operation. Time and method studies were carried on, jobs were analyzed and job standards determined. These procedures have yielded good returns in terms of employee productivity. Safety programs were instituted in each hotel, and have proved to be highly effective in reducing insurance costs. In many ways we have pioneered in the application of industrial methods to the hotel industry. 7 1946 1947 1948 1949 1950