Hilton Hotels Sees Lower Net: The Beverly...
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From Times Staff and Wire Reports
Hilton Hotels Sees Lower Net: The Beverly Hills-based hotel chain said that, based on results for July and August, net income from operations for the third quarter is expected to decline about 50% from the comparable 1989 period. Net income from operations for the 1989 quarter was $30.5 million. It blamed the decline on lower gaming revenues at the Las Vegas Hilton due to increased competition. Hilton stock closed at $29.25 per share in trading on the New York Stock Exchange, down $2.25.
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