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Hilton Hotels, 1947 Annual Report
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Hilton Hotels Corporation. Hilton Hotels, 1947 Annual Report - Image 7. 1947. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. May 24, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/857/show/835.

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. (1947). Hilton Hotels, 1947 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/857/show/835

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, 1947 Annual Report - Image 7, 1947, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed May 24, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/857/show/835.

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, 1947 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1947
Description Hilton Hotels Annual Report for calendar year 1947.
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_018_007.jpg
Transcript PRESIDENTS LETTER TO THE SHAREHOLDERS OF HILTON HOTELS CORPORATION: This annual report to the 2,654 shareholders of Hilton Hotels Corporation is the first to cover operations for a full calendar year, since the present corporation was created by consolidation May 31, 1946. It is a pleasure to report that 1947 business volume and earnings exceeded those experienced in any previous year by the individual properties which now comprise Hilton Hotels Corporation. Precise comparisons cannot be made because of changes in corporate structure, but charts and tables accompanying this letter, pages 8, 9 and 26, show the business trends of recent years. The 1947 results reflect in part the continuation of widespread travelling by the public. They also are the product of our efforts to operate the hotels in a manner which will best serve the interests'; of our guests, stockholders, and employees. Accompanying this letter are the financial statements of Hilton Hotels Corporation certified by Harris, Kerr, Forster & Company. EARNINGS y Gross revenue includingdividends and interest on securities in the year ended December 31,1947, was $42,534,238. • Combining the figures of the predecessor'companies fop the first five months of 194tt with the actual results of your corporation for the last seven months, gross revenue for the year 1946 was approximately $39,483,266. Net profit after all'charges ill 1947 totalled $5,509,040-including non-recurring net profit of $949,508. This compared with approximately $3,550,547 for your corporation and predecessor companies,in 1946. After providing for payment of-dividends on convertible preference stock, 1947 net profit was equal to $3.13 a share on the 1,618,578 common shares outstanding on December 31st, last. Net profit of the combined operation, in 1946 was equal, after providing for a full year's dividends on convertible preference stock outstanding December 31, 1946, to approximately $1.90 a share on the 1,618,377 common shares then outstanding. NON-RECURRING ITEMS Hotel operations in 1947 accounted for net profit-of $4,559,532, or $2.54 per common share, after convertible preference dividends paid. Non-recurring profits arose from the sale of the Palmer House Garage, Palmer House laundry building "and equipment, Ambassador Hotel securities and the Hilton Long Beach Hotel. There also were non-recurring expenses caused chiefly by prepayment premiums incident to your corporation's refinancing program. The net result of these transactions after provision for applicable taxes was a non-recurring profit of $949,508, or ■ 59 cents per common share. , ...i; - .„,..; -.)*>■.,