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Hilton Hotels, 1961 Annual Report
Image 11
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Hilton Hotels Corporation. Hilton Hotels, 1961 Annual Report - Image 11. 1961. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. December 2, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/561/show/533.

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 11. 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/533

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 11, 1961, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed December 2, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/561/show/533.

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 11
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_014_011.jpg
Transcript NET PROFITS TOTAL — FROM OPERATIONS FROM SALES OF PROPERTIES N MILLIONS V V 1952 1955 1958 1961 Several principal factors contributed to the lower operating earnings. Revenues, while remaining fairly constant, were spread over a larger number of rooms while inflationary trends continued in the costs of labor and materials. With the expansion in physical facilities there were heavy start-up costs as well as increased amortization of pre-opening expenses. Depreciation was $294,427 higher than in 1960. Rent increased $1,444,041 and property taxes were up $458,696 over the year before. Interest expense was $107,601 higher than in the preceding year. Unrealized profit from property sales, designated on the balance sheet as deferred income, amounted to $3,361,438 at December 31, 1961. These unrealized profits are equal to 66 cents a share, based on the common shares outstanding at year-end, after provision for taxes at the current capital gains rate. Most of these profits are scheduled to be brought into earnings as realized over the next five years. At December 31, 1960, unrealized profits from property sales totaled $12,078,790. The substantial reduction resulted primarily from the sale of investments previously mentioned. quarterly dividends: During the year, a total of $1.50 a share was paid in dividends on the common stock. Four quarterly payments of 37]/2 cents each were paid on March 1, June 1, September 1 and December 1. Regular quarterly dividends also were paid totaling $5 a share on the 5% First Preferred Stock, Series A (par value $100) and $1.371/4 a share on the 5i/2% Cumulative Voting Preferred Stock, Series A (par value $25) . Total cash dividend disbursements during 1961 were $6,215,546 with $506,427 in preferred dividends and $5,709,119 in common dividends. Payments on all classes of capital stock in 1960 were $6,250,979. capital changes: The number of common shares outstanding increased 59,760 during the year to 3,790,988 at December 31, 1961. The Corporation issued 62,500 shares of treasury common stock in part payment for The Hilton Hawaiian Village. During the year, 29,054 shares of 5i/£% preferred stock were converted into 20,460 shares of common stock at the conversion ratio of 1.42 shares of preferred for each share of common. At year-end, there were 213,575 shares of the 51/2% preferred outstanding, representing through the conversion feature a potential 150,404 shares of common. Partially offsetting the increase in common shares was the repurchase of 23,200 shares in accordance with the established policy of reacquiring stock previously issued for acquisition of properties subsequently sold. In August 1961, the Corporation exchanged a 494-acre tract of land in Houston, Texas for 49,400 shares of Hilton Hotels' 5% First Preferred Stock. The land constituted most