Word: sheratons
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Society and Harvard University, the trustees of the collection-Vice President Thomas B. Adams of the Sheraton Corporation and John Quincy Adams of the John Hancock Mutual Life Insurance Company-announced that the big day had come. With a ten-year gift of $250,000 from LIFE, a group of historians will edit the papers for the Harvard University Press, will also make them available in microfilm to 16 U.S. libraries. Among the items in the collection: the complete diaries of Presidents John and John Quincy and Diplomat Charles Francis; letters and manuscripts of Historians Brooks and Henry; family correspondence...
...first invasion by a major hotel chain, and no native regretted the change more than a shy little lady in her 705. She was Mrs. William B. Johnston, president and majority stockholder of the famed, Victorian-flavored Palace Hotel, which is being taken over by Boston's Sheraton Corp. Said Mrs. Johnston, who was born in the Palace and whose family has owned the hotel all its 79 years: "It's the trend of the times, isn't it? All the great old hotels are going into chain operations...
There was no mistaking the trend (TIME, Dec. 7 et seq.). Besides the Palace, Sheraton last week picked up Manhattan's 1,500-room McAlpin for $9,000,000, its fifth hotel purchase in two months. Now the No. 2 chain in the country, with 32 hotels with room for 24,000 guests, the Sheraton beat No. 1 Operator Conrad Hilton (with 27 hotels sleeping 30,000) to the Palace by offering Mrs. Johnston about $6,500,000, or some $2,000,000 more than Hilton...
...SHERATON HOTELS, No. 2 U.S. chain (after Hilton) and still growing, took over another big hotel. Only a week after buying Albany's 400-room Ten Eyck Hotel for $3,750,000, it bought Chicago's 400-room Blackstone for about $4,000,000 from Arnold S. Kirkeby's National Cuba Hotel Corp. Sheraton's new total: 29 hotels in the U.S. and Canada...
...SHERATON'S HOTEL CHAIN, which operated 27 hotels east of the Rockies (business: $64 million in the last fiscal year), is expanding to the West Coast. The $125 million chain has just laid out some $4,000,000 for Pasadena's Huntington Hotel, which says it is the West's biggest resort hotel...