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Hilton Hotels, 1947 Annual Report
Image 13
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Hilton Hotels Corporation. Hilton Hotels, 1947 Annual Report - Image 13. 1947. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. September 15, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/857/show/841.

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 13. 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/841

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 13, 1947, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed September 15, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/857/show/841.

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 13
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_018_013.jpg
Transcript ticular job. The final result will be more efficient performance at lower cost with the possibility of stabilizing employee earnings at present high levels. A new uniform Employees Group Insurance Plan has been placed in effect throughout the Hilton system. This provides life insurance for every regular employee after six months of service. Those earning $3,000 or more annually may increase the insurance to a maximum of $7,500 in proportion to their earnings. The corporation pays the entire premium on the first $1,000 of insurance, with the employees paying part of the premiums on insurance in excess of that amount. Group Hospitalization Policies also are available at low cost to all employees who wish this form of protection for themselves and their families. EXECUTIVE CHANGES Colonel Henry Crown, chairman of the Board of Directors of Material Service Corporation of Chicago, was elected a vice president of your corporation on December 5,1947. He has been a member of the Hilton Hotels executive committee and board of directors since their inception. Mr. Harry L. Ludwig resigned as vice president and treasurer as of December 31 to establish his own office as a business consultant. He has been retained by your corporation in this capacity. Mr. J. B. Herndon, Jr. was elected vice president and treasurer, effective January 1, 1948. Mr. Herndon has been a vice president since the corporation's inception, and has been associated with C. N. Hilton for many years. Mr. Herbert E. Holt, formerly comptroller of Hilton Hotels Corporation, was elected assistant treasurer, effective January 1, 1948. THE HOTEL INDUSTRY Because the hotel business was greatly overbuilt at high cost levels between 1920 and 1929, there were wholesale failures during the deflation of the 1930's. This period was characterized by low room occupancy. In addition, competitive price cutting, combined with high fixed charges on funded debt, erased the earnings of most hotels. Fortunately, the causes of this situation have been corrected. Low earning power prevented hotel expansion between 1930 and 1940, when practically no new hotels were constructed. The war years brought an unprecedented demand for hotel rooms. However, the need for conserving building materials for the war effort prevented the hotel expansion which otherwise would have occurred. Since the end of the war there has been practically no new hotel construction by virtue of the fact that at present building cost levels it would require unusual circumstances to permit a new hotel to compete on a price basis with existing facilities. Not only has surplus capacity, the basic cause of lost earning power, been removed, but there is slight prospect it will recur in the foreseeable future. Demand for hotel services is running at a rate close to 13 In the heart of Cos Angeles, The Town House offers such resort facilities Irt lis gardens as swimming, tennis, badminton and other sports. Kills attractive living room gives as idea of /suites available at the El Paso Hilton Hotel. The grand ballroom of The Stevens, the largest banquet room l&fhfi world, is only a part of. the hotel's exceptional convention facilities.