Conrad Hilton

Gus and Mary Hilton decided to have a child, on Christmas day in 1887.
Conrad's father owned the town's general store.
Mary was as quiet as her husband was loud. She was the backbone of the family. They were Catholic and believed in the power of prayer.
This shaped Conrad, installing a winning attitude in him.
He excelled in arithmetic, and learnt how to speak Spanish.
He worked for his father's general store.
Working at the general store, also gave him a taste of the hotel business.
He wasn't interested in the hotel business, he had bigger dreams.
He was one of 18 children by the time he was 22.
By now Gus was now a wealthy man.
Conrad and his father often clashed. Conrad struggled to make it work, but in his heart he knew his father would never treat him as an equal partner.
In 1911, Conrad entered politics.
He served a two year term in the lowers house legislature.
When his term expired, he threw in the towel saying politics were to slow and frustrating.
His family's love of music gave him a chance to set up concerts for his sister's band.
Conrad decided to open a bank, even though his father didn't think he could do it.
He was the president, cashier and sometimes the janitor.
Finally, he realized that bank was a lousy idea.
He got a telegram saying:: "Father dead. Come quick. Mother"
And he was too late for the funeral.
Hilton went to Texas in the spring of 1919, he wanted to per sue his life as a banker.
Soon opportunity arose, and there was a bank for sale.
He decided that if he couldn't be a banker, then why not a hotel owner?
He purchased his first hotel for $40,000 and he brought in $2,000 a week, but he wasn't impressed.
He busted up the lobby to add rooms, and he built a restaurant so more people would come, and he made a profit.
He then started buying more hotels in small Texas towns.
"Dig for Gold" or "Squeeze dollars from every space available"
Profits began to soar.
Hilton needed a slogan, and for weeks he was unable to come up with one.
"Minimax" Minimum price, for maximum service.
By 1925, his small town chain had 8 hotels and he was earning $100,000/year.
He attended mas every Sunday , and that's where he met his wife.
On October 19th, 1925 he was married.
He seemed well on his way to making his first million, but then disaster struck.
At age 40, in October of 1929, the depression hit. Hilton was deeply in debt and Conrad lost everything but one hotel.
He believed that since he could keep one hotel, then maybe he could survive.
Finally one supplier spoke up, and said here's my $5,000.
He finally got the $40,000 and paid the lease payment.
If he hadn't made that payment, he would have lost his empire.
He didn't go through bankruptcy, but he wouldn't.
His wife filed for a divorce in 1931.
By the end of the 30's, he was ready to buy new property.
He purposed to another woman, and she said yes.
They were married in 1941.
The talk on wall street was that Hilton was a sucker.
He bought the largest hotel in the world in Chicago, and renamed it the Conrad Hilton.
He got deivorced to his second wife in 1945.
August 27th, 1947, his mother died.
In 1948 his company was incorperated.
His son got married to Elizabeth Taylor, the two divorced after 7 months.