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| Title | Hilton Hotels, 1963 Annual Report |
| Creator (LCNAF) |
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| Publisher | Hilton Hotels Corporation |
| Date | 1963 |
| Description | Hilton Hotels Annual Report for calendar year 1963. |
| Subject.Topical (LCSH) |
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| Subject.Name (LCNAF) |
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| Genre (AAT) |
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| Language | English |
| Type (DCMI) |
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| 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 |
| Title | Image 10 |
| Format (IMT) |
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| File Name | hiltonar_201609_016_010.jpg |
| Transcript | EARNINGS TOTAL EARNINGS FROM OPERATIONS <=; r\o ... PER SHARE o.uu j A f\€~\ i 1 i i *+ . \J\J '■J «""»f"» .... o .U vJ o f* o . ^.uu ■i <"»<**». j I . \-> V-» —" 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 $1.75 DIVIDENDS PER SHARE 1.50 1.25 I.OO .75 .50 25 The principal problem in the hotel industry within the continental United States is the oppressive influence of overcapacity in much of the nation. Hotel guests have shown distinct preference for new hotels or completely refurbished older hotels. Consequently, as construction of hotels and motels has gone ahead at a rapid pace, there has been a substantial increase in the number of first class rooms available and in the cost of maintaining older rooms at high standards. The number of guest days has not grown in proportion to the population because jet travel and the improved highway system have altered travel patterns and shortened the duration of trips; also working and living habits have changed. In recent years, it has not been possible to raise prices to entirely compensate for declining occupancy and increasing costs. The domestic hotel industry occupancy rate in 1963 was 60 per cent, down from 61 per cent in 1962. Hilton's 1963 domestic occupancy was 60.6 per cent compared with 61.6 per cent the year before. On the positive side, travel is one of the most vigorous of the growth industries. This reflects growing population, business requirements and increased leisure time. The number of United States tourists has risen sharply, but not nearly as dramatically as has travel by residents of other nations. As the standard of living rises, a greater percentage of consumer income is spent on travel. The recently announced reductions in overseas air fares should prove to be beneficial. EARNINGS: Earnings from operations amounted to $3,880,335, equal to $1.10 a share on the 3,544,067 shares of common stock outstanding at December 31, 1963. This compares with operating earnings of $5,732,157, equal after preferred dividends to $1.43 a share on the 3,843,612 shares outstanding a year earlier. The 1963 income statement gives effect to the consolidation of the operations of Hilton Credit Corporation as of February 15, 1963. Hilton Credit's contribution to Hilton Hotels' 1963 earnings from operations equalled 211/2 cents a share. The decline in operating earnings resulted in part from the fact that revenues were less than anticipated. Nearly all categories of operating costs were higher in 1963 than in 1962. There was a sharp increase in departmental costs and expenses due to the greater number of properties operated. Advertising and business promotion expenses rose with the more aggressive 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 |