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Hilton Hotels, 1956 Annual Report
Image 14
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Hilton Hotels Corporation. Hilton Hotels, 1956 Annual Report - Image 14. 1956. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. February 24, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/598/show/575.

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. (1956). Hilton Hotels, 1956 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/598/show/575

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, 1956 Annual Report - Image 14, 1956, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed February 24, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/598/show/575.

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, 1956 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1956
Description Hilton Hotels Annual Report for calendar year 1956.
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_009_014.jpg
Transcript ois/l:h2 STIC Four important additions were made to the roster of domestic Hilton Hotels during 1956, and plans were completed for a fifth. As reported in the 1955 Annual Report, The Statler Hilton in Dallas, Texas, was opened on January 19, 1956. On May 1, 1956, your Corporation purchased The Plaza in San Antonio, Texas, through the issuance of 63,946 common shares (adjusted for the split) of Treasury stock. The San Antonio Hilton, as it has been renamed, is one of the leading hotels in the Southwest. Completely air- conditioned, it boasts an unusual roof garden. Meeting rooms for conventions, executive conferences, or parties are conveniently located. The ballroom and banquet hall can accommodate up to 700 guests. Two hotels in Cincinnati, Ohio—the Netherland Hilton and Terrace Hilton—were acquired June 1, 1956. The Terrace Hilton, formerly the Terrace Plaza, was built in 1948. The hotel comprises the top portion of a nineteen-story building, the first seven stories of which contain stores, offices, and an apparel mart. The store leases were included in the transaction. The Terrace Hilton has 350 air-conditioned rooms. The eighth floor lobby is served by eight high-speed elevators. The Netherland Hilton, previously known as the Netherland Plaza, is a 28-story structure built in 1931. It includes 710 guests rooms and 4 restaurants. In June, it was announced that Hilton Hotels Corporation would build and operate a new $15,000,000 hotel in the Gateway Center Development of Pittsburgh's Golden Triangle. The hotel, to be named the Pittsburgh Hilton, will be located on Liberty and Barbeau Streets, adjacent to the three stainless steel skyscrapers which dominate the Gateway Center. Plans call for a seventeen-story, completely air-conditioned structure, with some 800 guest rooms and many public function rooms. Among the Pittsburgh Hilton's prominent features will be one of the largest hotel ballrooms in the world, seating 2,000 people. Its 20,000 square feet can be separated, as required, into smaller rooms by the use of disappearing walls. In addition to the ballroom, ten to twelve private dining rooms are planned for from 20 to 100 guests. An exhibit hall will also be included in the plan. Adequate parking will be provided, and the hotel will encompass a special motor entrance and registration desk for guests arriving by automobile. On February 8, 1957, Hilton Hotels Corporation formally took over the operation of the Savoy-Plaza Hotel in New York City. This acquisition will raise Hilton Hotels Corporation's assets to approximately $202,000,000, an increase of $15,000,000 over the $187,000,000 at December 31, 1956. Under the plan of acquisition, three shares of Hilton common stock, plus three shares of a new issue of $25.00 par value 5%% Preferred Stock, were exchanged for each of the 76,623 shares of Savoy-Plaza, Inc. common stock so acquired, thus giving your Corporation 82.4% of the outstanding Savoy-Plaza stock. Stockholders' approval of the new preferred stock issue was secured at a special meeting that was held on December 19, 1956. Of the 500,000 shares of preferred stock authorized, 278,733 shares were issuable along with an equal number of shares of Hilton common stock for the Savoy-Plaza, Inc. shares. For the present, the Savoy- Plaza will be operated as a separate corporation. No changes are contemplated in its excellent staff. 12