Word: hilton
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...Manhattan's Webb & Knapp. Says Zeckendorf: "I like to turn peanuts into bananas." Last week, reaching out for a new piece of fruit, Top-Banana Zeckendorf bumped into another big operator. In the collision, Zeckendorf's feet went skidding out from under. Zeckendorf's opponent: Conrad Hilton, who in about a dozen years has risen from an obscure Southwestern innkeeper to a position as the world's biggest hotelman (TIME, Dec. 12, 1949 et seq.). The prize was the Statler hotel chain (eight hotels, two more abuilding in Dallas and Hartford, Conn.), which Hilton snapped away...
While Zeckendorf was dealing with the Statler directors, Connie Hilton had been quietly making friends with the Statler family itself. When Hilton heard of Zeckendorf's offer, he hopped on a plane, flew from California to New York to talk to "the people who really counted"-Mrs. Statler and other big family stockholders. Hilton's secret weapon: his argument that he could run the Statler chain better than anyone else. Living in Hilton's Waldorf Towers in Manhattan, Mrs. Statler had watched and admired the way Hilton did business, and was inclined to agree...
Last week Hilton sprang his big surprise. By matching Zeckendorf's price, he had won over the Statler family and bought their 753,000 shares (49% of the total) for $37.6 million. Stockholders owning the remaining 798,226 shares got the same offer of $50 a share...
Hotelman Conrad Hilton, who hates to pass up a good deal, last week was busy roping still another hotel into his bulging corral. Hilton announced that he had bought Houston's lavish (TV, air conditioning, Muzak, a 165-ft. swimming pool), 1,100-room Shamrock Hotel, opened in 1949 by Wildcatter Glenn McCarthy. The seller was the Equitable Life Assurance Society, which took over the $21 million hotel in 1952 as part payment on a defaulted $34 million loan to McCarthy Oil & Gas Corp. Equitable's price to Hilton: $18 million, including $7,000,000 for 500 surrounding...
...Shamrock brings busy Connie Hilton's string to 19 hotels with 18,344 rooms in the U.S. and abroad. He has five more hotels abuilding (Havana, Beverly Hills, Mexico City, Acapulco, Istanbul), and three others in the planning stage (Rome, Cairo, London). But Connie Hilton is not ready to settle back just yet. Though Hilton is not talking, rumors are buzzing that he is in a hot bidding battle with Real-Estate Operator William Zeckendorf (see below) for control of the $67 million Statler chain of eight big U.S. hotels. Zeckendorf has already bid $50 a share for Statler...