Word: hiltonization
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Dates: during 1960-1969
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...Hilton will have just as many hotels abroad (39) as he will have in the U.S. Hilton's overseas hotels last year brought in more than a quarter of the chain's net operating profit of $5,700,000, and Innkeeper Hilton expects that they will soon account for more than half his earnings. Not counting the many millions that foreign investors will have put into these overseas hotels, the Hilton chain by 1964 will be worth well over $300 million. "Where does Hilton go from here?" asks Lawrence Stern, chairman of Chicago's American National Bank...
...home. Newly affluent Europeans and Japanese have also joined in the wanderlust, and the world's byways are fast becoming two-way streets. Virtually everywhere there is need for modern hotels. "Very few new hotels have been built outside North America in the past 40 years," says Conrad Hilton. "In Istanbul ours is the only first-class hotel in a city that for a thousand years was the biggest city in the world. There have been no great hotels in Paris for 40 years, and the same is true of Rome and Athens...
...person who holds the answer is Conrad Hilton-and he is bored by the subject. "You see," says Olive Wakeman, "Mr. Hilton won't face things that aren't nice." An eternal optimist, Hilton considers everything about himself and his way of life indestructible and unchanging-unless he changes it. Resting up one fine afternoon recently before a globe-girdling trip, he sat on the terrace of his enchanted house in Bel Air, a fistful of peanuts in his hand. Loudly he whistled again and again for a half-domesticated bluejay named Chairman of the Board. The bird...
Spying the same opportunities, other U.S. chains are following Hilton abroad as fast as they can. The second biggest U.S. hotel chain after Hilton, Sheraton Corp., now has seven foreign hostelries; Hotel Corp. of America has five, and Knott Hotels three. But Hilton's biggest U.S. rival overseas is Intercontinental Hotels Corp., a Pan American World Airways subsidiary that has no hotels in the U.S. In the past six years, Intercontinental has added 13 hotels abroad, to bring its total to 19, expects to double that number within four years. Its hotels are generally smaller than Hilton...
...Hilton chain, during this year's first quarter, domestic revenues fell 10.6% and profits by nearly a half, offsetting profits from abroad. The recently opened New York Hilton (2,153 rooms) in Rockefeller Center offers what new U.S. hotels need nowadays if they hope to succeed: free parking to compete with the motels, expensive specialty restaurants to attract the high-livers, and lots of room for conventions to meet. It may be the last of its kind. "With perhaps an exception here and there," says Conrad Hilton, "we are not going to build any more large hotels in this...