Hilton | Success Story of the Multinational Hospitality Group
Hilton is an American hospitality company. Conrad Hilton founded the company in 1919. Headquartered in Tysons Corner, Virginia, the Hilton Group owns more than 500 hotels worldwide. The company has been a significant part of the hospitality industry for over a century. In 1949, it became the first hotel group to establish an international business chain. Hilton is famous for its exceptional customer service and world-class infrastructure.
Hilton Worldwide Holdings Inc. is one of the most prominent hospitality groups in the world. It has its hotels in all the major countries across the globe. Hilton is undoubtedly an authentic luxurious-service company with over 6,000 properties and 983,465 rooms. Formerly known as Hilton Hotels Corporation, the brand manages and franchises thousands of hotels in 118 countries. Within a few years of its establishment in 1919, Hilton Hotels gained considerable recognition across the USA and became one of the country’s most significant companies.
On the 25th of December 1887, Conrad Hilton was born in San Antonio, New Mexico Territory, USA. His father, Augustus Halvorsen Hilton, owned a general store. In contrast, his mother, Mary Genevieve Laufersweiler, was a homemaker. The couple had eight children. Conrad was the couple’s second child. Young Conrad was ambitious and full of life. He dreamed of becoming a banker. His father was a hard-working man. He did several odd jobs before owning the general store. From trading to mining, Augustus had done it all. Conrad’s mother was a deeply religious woman. She instilled good qualities into all her children and inspired Conrad to become a wonderful human being. Mary wanted Conrad to get an excellent education. Consequently, when Conrad turned eleven, she sent him to Goss Military Academy in Roswell, New Mexico.
Conrad attended St. Michael’s College in Santa Fe, New Mexico, for further studies. During his college years, priests instructed him. The priests instilled honesty, generosity, and faith in Conrad. Growing up, he refused to bend the truth even in the slightest. However, Conrad was not great at academics. But, he excelled at Maths. He was able to resolve and simplify complex math problems quickly. Simultaneously, his father’s store grew progressively. In contrast, Conrad excelled in extra-curricular activities. By the age of fifteen, he was six feet tall. He was good at dancing, playing piano, and tennis. After completing his education, Conrad returned to his hometown. At the time, the financial recession had hit the nation. Consequently, Conrad’s mother started a food-providing service. He stayed with his family and helped with chores.
Beginning of Hilton Group
Gradually, Conrad and his family’s financial situation got better. When he turned 25, his father asked him to manage the family’s general store with him. Conrad’s father was detail-oriented and impulsive. He nagged Conrad for the smallest of things. As a result, their relationship went downhill. Conrad decided to give up the management of the store. Later, he decided to become a politician. The New Mexico State Legislature hired Conrad as a Republican. After working as a politician for some time, Conrad lost interest in the bureaucracy because of politics’ corrupt nature. Later, he went on to become a banker. But things did not work in Conrad’s favor. Simultaneously, World War 1 began.
He served in the army for two years and returned home in 1919. However, just before his return, his father succumbed to a car accident. Things changed drastically for Conrad. He decided to jump back to the banking business. But the people around him advised him not to return to becoming a banker. However, an old friend suggested he go to Texas and restart his banking career. Conrad took his advice and went o Texas to buy a bank with his savings and family’s help. He reached Cisco, Texas, to finalize a bank deal. However, the seller increased the price at the last moment, and Conrad refused his offer. He decided to leave the following day. To spend the night, he searched for a hotel. There was only one hotel in town, The Mobley Hotel. Conrad went into the jam-packed hotel and asked about the business. He was astonished by the crowd and felt he should buy the hotel.
Conrad talked to the hotel’s owner and finalized a deal worth $40,000. He called several friends for help and took a hefty loan from Cisco bank. He finally arranged the sum and went on to buy the Mobley Hotel. It was already the leading hotel in town. People waited for hours to get a room. After Conrad acquired the hotel, he converted the dining room into an additional room. The business was flourishing, and Conrad went on to buy several hotels in Texas. He achieved unparalleled success in the hospitality industry. In 1925, he established the historic Hilton Hotel in Dallas, Texas. However, during the Great Depression, the Hilton Group was on the verge of bankruptcy. But Conrad was persistent and did not let the Hilton Group become a disaster. During 1930-1948, the Hilton Group expanded its business nationwide.
In 1950, Hilton established “HILCRON,” the world’s first central reservation office. Simultaneously, the group decided to expand its business globally. Later, Hilton became one of the most luxurious and customer-friendly hospitality groups worldwide. Presently, the group has over 500 hotels in 118 countries. It is one of the most reputed and renowned hotels. Moreover, Fortune has included Hilton in its World’s Best Workplaces list. The group currently manages over 5,000 franchise hotels with 900,000+ rooms.
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What is the net worth of Hilton Group?
Hilton Group’s net worth is estimated to be $38 billion. Conrad Hilton established the company in 1919 in Cisco, Texas, USA. For over 100 years, the Hilton Group has been a significant part of the hospitality industry.
Who is the CEO of Hilton Group?
Christopher J. Nassetta has been the CEO of Hilton Group since 2007. Earlier, he served as the President and CEO of Host Hotels & Resorts. It is a renowned American real estate investment trust.