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Hilton Hotels, 1947 Annual Report
Image 8
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Hilton Hotels Corporation. Hilton Hotels, 1947 Annual Report - Image 8. 1947. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. May 25, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/857/show/836.

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 8. 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/836

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 8, 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 25, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/857/show/836.

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 8
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_018_008.jpg
Transcript GROSS REVENUE $50,000,000 $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 1943 1944 1945 1946 TS47 Compiled from figures on page 26. NET PROFITlI $5,000,000 $4,500,000 $4,000,000 $2,500,000 $1,500,000 1943 1944 1945 1946 1947 Compiled from figures on page 26. 'Excluding non-re* J^^»8>roff» of $10,625 in 1946 and $949,508 In 1947. OTHER COMPANIES Your corporation purchased additional shares of Mayflower Hotel Corporation, Washington, D. C. during the past year, and at the end of the year held 68.75 per cent of the total stock outstanding. Hilton Hotels Corporation also owns a 50 per cent interest in The Neil House Company, Columbus, Ohio, and the Palm Beach Biltmore Company. Your corporation received dividends of $80,351 from the Mayflower Hotel Corporation. The undistributed earnings equity of these three companies has not been included in the income account for the year ended December 31, 1947. Hilton Hotels' share ill the undistributed earnings amounted to $249,056.02, or 15 cents a share on the common stock. DIVIDEND PAYMENTS Regular quarterly dividend distributions of 50 cents a share were made on convertible preference stock in 1947. Common dividend payments of 25 cents each also were made at quarterly intervals. Last year's dividend distributions, totalling $2,039,198 in amount, represented 37 per cent of the net profit accumulated during the year. The remaining $3,469,842, or 63 per cent of net profit, was reinvested in the business. Regular quarterly payments of 50 cents a share on convertible preference stock and 25 cents a share on common stock were made March 1, 1948. Directors on March 6 also ordered regular quarterly distributions of 50 cents a share on convertible preference stock and 25 cents a share on common stock, both payable June 1, 1948, to shareholders of record May 20, 1948. CAPITAL STRUCTURE STRENGTHENED One of the objectives of Hilton Hotels Corporation has been to consolidate funded debt and reduce the fixed charges. This policy is not only beneficial to the current position, but it will enable the corporation to meet in better fashion whatever economic conditions may be ahead. In pursuit of this objective a major step was taken in 1947 to simplify and strengthen your corporation's capital structure. Last May $16,000,000 of 3H% First Mortgage Palmer House Bonds maturing in 1972 were sold to The Equitable Life Assurance Society of the United States. The proceeds were used chiefly to pay off the following bonds and mortgages: Hotel Amount Palmer House '. $10,200,000.00 Stevens I 4,221,791.46 Long Beach Hilton 335,790.12 Lubbock Hilton 301,986.25 Town House 207,750.00 $15,267,317.83 The new bonds have a sinking fund requirement calling for retirement of 80 per cent of the issue by maturity. However, Hilton Hotels has the privilege of prepaying up to $1,000,000 a year. This will permit