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Hilton Hotels, 1961 Annual Report
Image 7
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Hilton Hotels Corporation. Hilton Hotels, 1961 Annual Report - Image 7. 1961. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. November 24, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/561/show/529.

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. (1961). Hilton Hotels, 1961 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/561/show/529

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, 1961 Annual Report - Image 7, 1961, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed November 24, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/561/show/529.

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, 1961 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1961
Description Hilton Hotels Annual Report for calendar year 1961.
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_014_007.jpg
Transcript PRESIDENT'S LETTER To Our Shareholders: Rapid progress in new construction and in negotiations for additional hotels in strategic locations across the country and around the world, as well as action to offset lower occupancy in some currently operating units, characterized 1961 for Hilton Hotels Corporation. Consolidated earnings were substantially above 1960 as the result of extraordinary capital gains. However, net profits from operations were lower than the year before. While revenues were slightly higher, they were derived from more units in operation. Occupancy rates, although above the industry average, have been depressed by various forms of increased competition in the cities where we now operate. This factor, together with inflationary trends, caused costs and expenses to increase relative to volume. In addition, the expansion in the number of units has increased consolidated expenses such as rent, property taxes, interest and depreciation. A number of developments have changed the nature of catering to the needs and desires of the traveling public. Among these are new construction of hotels and motels at a rate faster than the increase in population; greater geographical competition brought about by improvements in transportation; and the construction of convention halls in cities which were previously noncompetitive for large conventions. While of great benefit to the traveling public, jet transportation and the new interstate highway system is increasing one-day round-trip business travel resulting in declining occupancies in some areas, particularly in downtown hotels. Other factors, for which adjustments must be made, are changing work habits and customs and the desire by many for the informality of a resort atmosphere. Nevertheless, the hotel industry is the nation's seventh largest with an estimated annual gross of $3.5 billion. Even though Hilton Hotels already is the world's largest operator of hotels, in an industry of such magnitude there is still room for expansion in certain areas. We are developing a more aggressive and effective sales organization to capitalize on this position of leadership and to cultivate every available source of volume. As we are first and foremost hotelmen, we are alert and flexible in gearing ourselves to serve the changing needs and desires of our patrons. In spite of the present overbuilt condition in some locations, the basic need for shelter continues. Our goal is to provide it better and more efficiently than others. The newest domestic hotel projects have been worked out in association with prominent investors which permits us to extend our operating skills to more locations. Our inns are being located only at high density points. All are sizable enough structures to be centers