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Hilton Hotels, 1950 Annual Report
Image 10
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Hilton Hotels Corporation. Hilton Hotels, 1950 Annual Report - Image 10. 1950. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. February 26, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/29/show/9.

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 10. 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/9

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 10, 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 26, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/29/show/9.

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 10
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_003_010.jpg
Transcript group purchasing, inter-city reservation system, and other features, it is expected that the Jefferson's well established record of earnings will be improved. Beverly Hills Property Purchased Negotiations were carried on over a considerable period of time looking toward the leasing of a modern, luxury-type hotel to be constructed by other interests in Beverly Hills, California. The transaction failed of consummation, but because of the outstanding potentialities of the property it was recommended to the board of directors that it be purchased for future development. A contract to purchase all the capital stock of the corporation owning the property has been entered into, at a price of $3,070,000. Of this amount, $520,000 was paid when the transaction was closed, with the balance due over a period of twenty years. Minimum payments are at the rate of $100,000 a year, commencing six years after the date of closing, with interest on the unpaid balance ranging from one per cent to four per cent per annum. The property consists of approximately nine acres, situated at the intersection of Wilshire and Santa Monica Boulevards, in Beverly Hills. It is considered the outstanding piece of undeveloped property in that area, ideally situated for the construction of a luxury hotel at some time in the future. International Expansion Operations of the wholly owned subsidiary, Hilton Hotels International, Incorporated, were broadened during the year. The executives of Hilton Hotels International traveled extensively through Europe and made thorough studies of the possibilities of developing new outstanding hotels in major cities. Mr. Conrad N. Hilton, President of Hilton Hotels Corporation, reviewed their findings in a short European trip. The first major project of Hilton Hotels International since it was formed in April 1948, was the opening in December 1949 of the Caribe Hilton, a 300 room hotel in San Juan, Puerto Rico. This hotel, built and owned by the Puerto Rico Industrial Development Company, a government corporation, is leased for twenty years to our International subsidiary. Its operation in 1950 resulted in revenue totaling $2,294,342 and net profits to Hilton Hotels International of $128,877. The success of the Caribe Hilton encouraged your management to develop similar projects abroad. A plan for our participation was developed generally following the financial arrangement in Puerto Rico under which land, building, furnishings and equipment would be owned by a particular country or its nationals, with Hilton Hotels International taking a lease on the completed hotel, assisting in the planning, furnishing and equipping of the buildings, but with its chief role that of operating and promoting the hotels. Our financial participation is to be limited to the providing of operating capital. In August 1950, a contract was signed to lease and operate for twenty years a 400 room hotel to be built on a 17 acre park in Mexico City at a cost of approximately $6,000,000. It will be owned by Manuel Suarez of Mexico City. In November 1950, a contract was signed to lease and operate for twenty years a hotel to be built in Rome, Italy. The 400 room hotel, to be named Albergo Dei Cavalieri Hilton, is to be built on Monte Mario overlooking the city of Rome at an estimated cost of $6,000,000. It will be owned by Societa' Gene- rale Immobiliare, an Italian company. In December, another contract was signed to lease and operate for twenty years, a 300 room hotel to be built in Istanbul, Turkey. The hotel, which is estimated to cost approximately $5,000,000, will be owned by the Government of Turkey. Our financial participation in these agreements follows the basic plan and is limited to operating capital. Expansion Policy Few hotels have been built in the United States in the past twenty years, although the nation's population has increased by more than 30,000,000 in PAID OUT IN EMPLOYEE BENEFITS (Including payroll of personnel offices but excluding employees' meals) 1946+ 1947 1948 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,100,000