Word: waldorf
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...hotels, big, bounding Conrad N. Hilton, 62, bought such landmarks as Chicago's huge (2,700 rooms) Stevens, Manhattan's dignified old Plaza, and Los Angeles' flashy Town House. But Connie Hilton still wasn't satisfied. He wanted to own Manhattan's Waldorf-Astoria...
Though the Waldorf is smaller (1,900 rooms) than the Stevens and short of the Plaza's leisurely charm, it is the greatest hotel in the world to Hilton, as to almost everyone else...
...Goal. Hilton began eyeing the Waldorf in 1942 when he bought a batch of Hotel Waldorf-Astoria Corp. bonds with a face value of $500,000 for $22,500, or 4? on the dollar. A few years later, after the bonds had soared, he sold out at a profit of $412,000 to raise cash to buy Chicago's Palmer House. But he never forgot his goal. Last week, Connie Hilton proudly announced that he had reached it. Both he and the Waldorf's stockholders had signed the deal, and barring "a fire, an atom bomb...
...Campaign. Though the new hotel's fame quickly spread, it has never been a big moneymaker. In its first ten years it lost $12 million. Last year, the Waldorf managed to net $657,981 on a gross of $18.7 million. But the profit percentage is slipping. For the first eight months of 1949, the Waldorf grossed $11.8 million, netted only...
...drivers hate the damn thing," said Richard W. Fligg of the Harvard Taxi Company, commenting on the Square's new rotary traffic system. "Companies have lost their stands in front of Waldorf's, the Harvard Trust Company, and Howard Johnson's. Brattle Cab has been pushed clear back to Church Street...