CHEVRON HILTON TO MAKE BIG ISSUE
(N.Z. Press Association —Copyright) MELBOURNE, June 9. Chevron Hilton Hotels, Ltd., will make a public issue in September next of several million pounds of 5s shares and debentures. The company yesterday increased nominal capital from £1,000,000 to £10,000,000. Directors plan an extensive programme of hotel development , in capital Cities which will begin shortly in Melbourne with largescale additions to the Chevron Hotel.
Hotels will also be built in Brisbane, Perth and Newcastle, and in New Zealand.
Hilton Corporation of America will have a minimum 15 per cent, and a maximum 25 per cent interest in the new company. Mr Conrad Hilton, international hotel operator, and Mr Stanley Korman, chairman of the Chevron group, announced after a nieeting in Honolulu in April that the Hilton Corporation would operate all Chevron hotels in Australia from August 1 next.
CO3: ~ Bros. Move.—Cox Bros. (Australia) Ltd., Melbourne retailer, has bought five new properties in Hobart, situated between the two stores in which the company already operates. Purchase price was £209,500.
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Press, Volume XCIX, Issue 29228, 11 June 1960, Page 16
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172CHEVRON HILTON TO MAKE BIG ISSUE Press, Volume XCIX, Issue 29228, 11 June 1960, Page 16
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