When Hilton announced it was acquiring Bally entertainment, investors cheered and the stock soared
Hilton Hotels stock has been soaring since February, but old Conrad Hilton must be turning in his grave. Hilton started his career when he began renting out rooms in his family's New Mexico home in 1919. From that meagre beginning, he successfully built his enviable franchise. When the Great Depression hit in the early 1930s, Conrad was hurt, but unlike many other hoteliers, he survived. The reason? He leased the land for his hotels; he hadn't borrowed to buy it.
That lesson had a big impact
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