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Hilton Hotels, 1961 Annual Report
Image 14
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Hilton Hotels Corporation. Hilton Hotels, 1961 Annual Report - Image 14. 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/536.

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 14. 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/536

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 14, 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/536.

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 14
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_014_014.jpg
Transcript ASSETS IN MILLIONS $250 200 150 lOO 50 1952 1955 1958 1961 STOCKHOLDERS EQUITY Hawaii. Hilton-Burns Hotels Company, Inc. has extended its lease on the land on which the hotel's Tapa Room night club is situated, with an option to purchase. Long term indebtedness at December 31, 1961 was $88,759,454, equal to 46 per cent of the book value of fixed assets, investments at cost and working capital, a conservative ratio within the hotel industry. Changes in long term indebtedness during the year are detailed in the table entitled "Analysis of Consolidated Long-Term Debt!' In January 1962, Hilton Inns, Inc., a wholly-owned subsidiary, received a mortgage loan commitment in the amount of $18,000,000 from a group of insurance companies and other institutional investors. The following is a condensed consolidated statement of source and application of funds for the year ended December 31, 1961: SOURCE OF FUNDS: Net profit $13,539,701 Less: Net profit from property sales, etc 7,177,422 Net profit from operations 6,362,279 Depreciation and amortization 11,035,002 Proceeds from sales of properties and investments 41,188,284 Collections on notes receivable 4,001,443 New financing 27,632,768 $90,219,776 FUNDS APPLIED TO: Reduction of long-term debt $30,063,484 Capital expenditures 47,019,630 Purchase of treasury stock 747,932 Investments 4,521,304 Dividends 6,215,546 Increase in cash 918,592 Increase other net assets 733,288 $90,219,776 PER SHARE $30.00 24. OO 18.OO 12.00 6.00 1952 1955 1958 1961 investments: Hilton Hotels continually strives to maximize the utilization of its capital towards the goal of operating the most modern and best equipped hotels and inns in principal cities and other strategic locations. In several cases during 1961, we reached the conclusion that this policy would best be furthered by entering into joint arrangements with other prominent investors. The four newest hotel projects within the United States —two on the mainland and two in Hawaii—will be operated by separate corporations in which Hilton will have less than a majority interest. Rock-Hil-Uris, Inc. was formed with Rockefeller Center, Inc. and Uris Buildings Corporation to build The New York Hilton. Hilton Hotels has a 25 per cent equity interest and will manage the hotel. Joseph P. Binns, vice president and director of Hilton Hotels, is president and chief executive officer of Rock-Hil-Uris. The Washington 10