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Hilton Hotels, 1947 Annual Report
Image 14
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Hilton Hotels Corporation. Hilton Hotels, 1947 Annual Report - Image 14. 1947. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. July 16, 2019. https://digital.lib.uh.edu/collection/hiltonar/item/857/show/842.

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 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/857/show/842

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 14, 1947, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed July 16, 2019, https://digital.lib.uh.edu/collection/hiltonar/item/857/show/842.

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 14
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_018_014.jpg
Transcript TheMoyfiower is the scene of-fiaony of Washing- ton's most important functions. This is a typical banquet setting for the Department ol State* The Rooseveft Grill "Is"the pereirBiiaf favorite of New Yorker* ' and visitors" to their *iSfyV. WsBm'i capacity, funded debt of most first class hotels now is on a sound basis, and the reinvested profits of recent years have strengthened their current positions. Meanwhile, in the past 17 years, during which there has been so little hotel construction, the nation's population has increased substantially. The current rate of activity in the hotel business will not, of course, continue forever. However, your management is of the opinion that when a slackening in general business takes place, the earnings of well operated hotels will not recede to the level of the 1930's. LOOKING AHEAD Your corporation is engaged primarily in operating its own hotels. It also manages other hotels under contracts which return a percentage of profits to Hilton Hotels Corporation. Since the business is not static, hotel values are subject to change. The corporation's position has been strengthened through increases in the value of its properties j caused by rising earnings and higher real estate'prices. At the present level of real estate, however, it is the management's opinion that a conservative attitude should be taken toward acquisitions. Hotels will be bought only when they have good earnings prospects and can be obtained on favorable terms. Properties will be disposed of when long-term earning prospects are unsatisfactory. Managerial contracts will be made when it is indicated that type of operation will be desirable. An example of the latter is the agreement with Puerto Rico Industrial Development Company, a corporation organized by the Government of Puerto Rico. The Development Company is building a 300 room hotel in San Juan, at an estimated cost of $4,500,000 which'will be leased ta your corporation for a term of 20 years. Hilton. Hotels Corporation will provide operating equipment, inventories and working capital for the hotel, and will pay as rent two-thirds of the hotel's gross operating profits plus an amount not to exceed five per cent per annum of the installed cost of furniture and fixtures. While statistics indicate that earnings of the hotel industry have .receded since 1944, Hilton Hotels' results have moved counter to the industry trend. This should not be construed to mean there is no ceiling on profits, however, since operating expenses are continuing to rise. From this point on our earnings may reflect to a greater degree the.course.of general business. S».j,; Meanwhile, the present overall demand for Hilton Hotel services remains near capacity levels and our important Chicago properties are solidly booked with convention business through 1948 and 1949. Under the circumstances it is a logical assumption that your corporation will continue to receive its full share of the available hotel business. By order of the Board of Directors. ^ 7:.. Chicago, Illinois March 15, 1948 . (^^^^^S-L-t^ '. President The Albuquerque "Hilton is an outstanding example of native New Mexican architecture and decor. 14