Hilton was perhaps the most internationally recognizable name in the lodging industry, in large part due to the role that the Hilton family had played throughout its history. The firm began its operations in 1919 with the Mobley Hotel in Cisco, Texas under the guiding leadership of Conrad Hilton. The company went public under the name Hilton Hotels Corporation in 1946, with a portfolio of 15 properties in 11 states. After spinning off the international unit in 1964, Hilton focused on domestic growth in the lodging segment as well as through diversification into casinos and vacation ownership. A strong commitment to economies of scale was made in 2000 with the acquisition of Promus Hotel Corporation, a transaction that pushed Hilton close to the 1,700 properties mark. Promus Corporation, originally incorporated as Holiday Inns of America in 1954, focused on franchising and managing brands such as Embassy Suites and Hampton Inns after selling its Holiday Inn division in 1990. Tom Keltner, EVP and CEO of The Americas, a Holiday Inn and Promus