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Hilton Hotels, 1955 Annual Report
Image 15
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Hilton Hotels Corporation. Hilton Hotels, 1955 Annual Report - Image 15. 1955. Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston. University of Houston Digital Library. Web. February 19, 2020. https://digital.lib.uh.edu/collection/hiltonar/item/886/show/872.

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. (1955). Hilton Hotels, 1955 Annual Report - Image 15. 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/886/show/872

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, 1955 Annual Report - Image 15, 1955, Annual Reports from the Hospitality Industry Archives, Hospitality Industry Archives, Conrad N. Hilton College of Hotel and Restaurant Management, University of Houston, accessed February 19, 2020, https://digital.lib.uh.edu/collection/hiltonar/item/886/show/872.

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, 1955 Annual Report
Creator (LCNAF)
  • Hilton Hotels Corporation
Publisher Hilton Hotels Corporation
Date 1955
Description Hilton Hotels Annual Report for calendar year 1955.
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 15
Format (IMT)
  • image/jpeg
File Name hiltonar_201609_008_015.jpg
Transcript conventions and, more specifically, in the cities of New York, Washington, D. C, St. Louis and Los Angeles. Your Corporation denied that the hotel business constitutes interstate commerce or that there was any substantial lessening of competition or tendency toward a monopoly by virtue of the Statler acquisition. In the opinion of our counsel, the suit was not well founded and we were confident of ultimate success. Nevertheless, to engage in long-drawn out anti-trust litigation would not only have been costly but would have diverted the energies of our executives and staff from more productive matters. Accordingly, your Board of Directors approved a settlement deemed by them to be in the best interests of the Corporation. The consent decree specifically disclaims any admission of any violation of law or that your Corporation is engaged in interstate commerce. It requires the sale, within a reasonable time, of The Jefferson Hotel, St. Louis, The Mayflower Hotel, Washington, D. C.j and either the Hotel New Yorker or the Hotel Roosevelt in New York City. For a period of five years, the acquisition of certain named hotels in New York, Washington, St. Louis and the Los Angeles-Beverly Hills area is prohibited, if any such acquisition would increase the number of such hotels owned by this Corporation in excess of four in New York and one in each of the other communities. Since The Beverly Hilton is not included in the list, your Corporation can continue to operate both The Beverly Hilton and the Los Angeles Statler. No restrictions are placed upon the construction of new hotels or remodeling of existing hotels in any of the four cities nor upon the acquisition of hotels in other cities in the United States or in foreign countries. The Jefferson Hotel was sold in December at a profit of more than $2,500,000, and the sale of the other hotels will also prove profitable to the Corporation. When the Mayflower transaction is consummated, your Corporation will have fully complied with all the requirements for disposition of properties contained in the consent decree. Conclusion The unprecedented level of business activity and national prosperity helped make 1955 the best year the hotel industry has recently enjoyed, and we have every reason to believe that 1956 will see a continuation of favorable conditions. The substantial increase in Hilton earnings last year was attributable in part to the acquisition of the Statler properties and in part to improved earnings in our other hotels. For the first time since the end of the war, average room occupancy showed an increase over the preceding year. We are constantly striving to effect economies by combining facilities to avoid duplication, by the mass purchase of equipment and supplies, by pooling executive talent, and by cutting administrative overhead. Our sales and promotional efforts have been intensified. These policies have proved rewarding and will be continued. Opening of the new 1,001 room Statler Hilton in Dallas this January was an auspicious beginning of what looks to us like another year of progress. We are now in a better position than ever before to serve the great traveling public and we look forward to the coming year with confidence and enthusiasm. Conrad N. Hilton President March 7, 1956. 13