Company: Hilton Hotels Corporation

Founders: Conrad Hilton

Industry: Leisure and Hospitality

History:

Hilton Hotels Corporation started with one single hotel. Today, it manages franchises and owns 3,200 hotels in 77 countries. Hilton owns a wide array of brands such as Hilton Hotels, Hilton Garden Inn, Conrad Hotels, Homewood Suites by Hilton, The Waldorf-Astoria Collection, Doubletree, Hilton Grand Vacations Company, and Embassy Suites Hotels.

In 1919, Conrad Hilton, the founder, was committed to customer satisfaction and maximizing every inch of space of the hotel he bought in Cisco, Texas. Since then, the company has expanded its services and facilities worldwide.

In 1954, the company acquired the Hotels Statler Company for $111 million, which was at the time the most expensive sale ever in the real estate industry. In 1964, the corporation separated its company that handles international operations. This separated company was then acquired by a British leisure firm, which in 1999, changed its name to Hilton Group plc.

After the acquisition, there were then two separate companies that were operating with the Hilton name. To avoid confusion, the British and American Hilton corporations had an agreement to promote each other’s services, logos and brands. In 1971, Hilton Hotels Corporation acquired the International Leisure Company, Flamingo Hilton and Las Vegas Hilton.

In 1998, Hilton spun off its gaming operations. In 1999, the company bought Promus Hotel Corporation. In December 2005, the Hilton Hotels Corporation acquired the British-owned Hilton International company, Hilton Group plc, for over $5 billion. When the company sealed the transaction in 2006, Hilton ranked fifth in the biggest hotel operator in the world.

In 2007, Hilton became a subsidiary group of Blackstone, and Hilton agreed for Blackstone to an all-cash buyout. The corporation has had its headquarters in Beverly Hills since 1969. However, it has announced that in 2009 they will be moving to Fairfax County in Virginia to be closer to Blackstone’s headquarters.

Leadership:

Christopher J. Nassetta, President and Chief Executive Officer