Hilton Hotels Corp.

Private Subsidiary, Headquarters Location
9336 Civic Center Dr., Beverly Hills, CA 90210-3604, United States
(310)278-4321, (310)205-7678 fax, http://www.hilton.com

Primary SIC: Hotels, Motels, Primary NAICS: Hotels (except Casino Hotels) and Motels
Description: Services: Hotel and casino operator. Retail: Restaurant chain. Finance: Franchiser of hotels.Hilton Hotels Corporation, with world headquarters in Beverly Hills, Cal., is the world's leading lodging company with approximately 260 hotels and resorts in cities throughout the United States. This includes 54 owned and/or managed hotels and 199 hotels under franchise agreements. Flagship properties include The Waldorf-Astoria, Hilton Hawaiian Village, and the Hilton Chicago & Towers. It also operates 13 Conrad International hotels located in 8 other countries around the world. Its franchised hotels operate under the Hilton, Hilton Garden Inn, and Hilton Suites names. They also operates more than 20 vacation ownership resorts. Approximately 45,000 people work at U.S. Hilton Hotels and Resorts and Conrad International properties worldwide. Currently Hilton is listed in the top 500 companies by Fortune and has annual sales of more than $1.7 billion. In 1997, Hilton Hotels Corporation (HHC) and British company Hilton Group PLC, formalized a global marketing partnership allowing the Hilton name to become a worldwide lodging provider for the first time in over 30 years. Hilton International, now a wholly owned subsidiary of Hilton Group, was spun off from HHC in 1964. Hilton Hotels Corporation continued to operate hotels separately in the U.S. and Conrad International Hotels Corporation, a subsidiary of Hilton Hotels, operates hotels outside the U.S. There are more than 500 Hilton, Conrad International, and Vista hotels in 50 countries. The company has been recognized for many accomplishments throughout its history. They were the first coast-to-coast hotel chain. They were the first hotel company to list on the New York Stock Exchange. They became the first international hotel company when they opened their Caribe Hilton in San Juan, Puerto Rico in 1949, which was also recognized as the first gaming property for Hilton. They were the first lodging company to operate a hotel gift shop. They were the first American chain to open a European hotel with the Castellana Hilton opening in Madrid, Spain in 1953. In 1966, became the first upscale lodging company to develop the concept of franchising hotels. In 1971, under the direction of Barron Hilton, the company became the first publicly traded, major hotel company to enter the casino gaming industry with the purchase of the Las Vegas Hilton and the Flamingo Hilton - Las Vegas. The debut of the Hilton's Internet web site at http://www.hilton.com in August 1995 made Hilton Hotels an industry pioneer on the information superhighway. Acquisitions of the company over the years have been extensive. Conrad Hilton purchased The Plaza in New York City in 1943. In 1949 the company acquired The Waldorf-Astoria. They acquired Bally Entertainment in December 1996, making them the world's largest gaming company. In January 1997, Hilton Hotels Corporation and Hilton International Co. reunified the Hilton brand for the first time in over 30 years with the signing of a unique joint marketing alliance. In December 1998, Hilton completed a spin-off of its gaming assets in a tax-free distribution to its shareholders to form a separate, publicly traded company, Park Place Entertainment. Its recent purchase of Promus Hotels will increase Hilton's holdings to about 1,700 properties and bring the Doubletree and Hampton Inn chains into its list of subsidiaries. Hilton experiences much competition from the lodging industry. Some of their largest competitors include Marriott International, Starwood Hotels & Resorts Worldwide, and Holiday Inns.