Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HART MATTHEW J
  2. Issuer Name and Ticker or Trading Symbol
HILTON HOTELS CORP [HLT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President and COO
(Last)
(First)
(Middle)
HILTON HOTELS CORPORATION, 9336 CIVIC CENTER DRIVE
3. Date of Earliest Transaction (Month/Day/Year)
05/27/2005
(Street)

BEVERLY HILLS, CA 90210
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/27/2005   M   93,750 A $ 11.85 497,936 (1) D (2)  
Common Stock 05/27/2005   M   64,250 A $ 11.87 562,186 (1) D (2)  
Common Stock 05/27/2005   M   73,500 A $ 16.4063 635,686 (1) D (2)  
Common Stock 05/27/2005   M   115,000 A $ 14.8438 750,686 (1) D (2)  
Common Stock 05/27/2005   M   50,000 A $ 9.2188 800,686 (1) D (2)  
Common Stock 05/27/2005   S   396,500 D $ 23.9416 404,186 (1) D (2)  
Conmmon Stock 05/31/2005   M   66,100 A $ 19.6477 470,286 (1) D (2)  
Common Stock 05/31/2005   M   126,500 A $ 16.4063 596,786 (1) D (2)  
Common Stock 05/31/2005   M   50,000 A $ 16.5852 646,786 (1) D (2)  
Common Stock 05/31/2005   S   242,600 D $ 23.9042 404,186 (1) D (2)  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option Right to Buy $ 11.85 05/27/2005   M     93,750 01/31/2005 01/31/2012 Common Stock 93,750 $ 11.85 31,250 D  
Stock Option Right to Buy $ 11.87 05/27/2005   M     64,250 01/29/2005 01/29/2013 Common Stock 64,250 $ 11.87 64,250 D  
Stock Option Right to Buy $ 16.4063 05/27/2005   M     73,500 04/29/2000 04/29/2006 Common Stock 73,500 $ 16.4063 126,500 D  
Stock Option Right to Buy $ 14.8438 05/27/2005   M     115,000 01/13/2003 01/13/2009 Common Stock 115,000 $ 14.8438 0 D  
Stock Option Right to Buy $ 9.2188 05/27/2005   M     50,000 01/12/2004 01/12/2010 Common Stock 50,000 $ 9.2188 0 D  
Stock Option Right to Buy $ 19.6477 05/31/2005   M     66,100 01/21/2002 01/21/2008 Common Stock 66,100 $ 19.6477 0 D  
Stock Option Right to Buy $ 16.4063 05/31/2005   M     126,500 04/29/2000 04/29/2006 Common Stock 126,500 $ 16.4063 0 D  
Stock Option Right to Buy $ 16.5852 05/31/2005   M     50,000 01/16/2001 01/16/2007 Common Stock 50,000 $ 16.5852 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HART MATTHEW J
HILTON HOTELS CORPORATION
9336 CIVIC CENTER DRIVE
BEVERLY HILLS, CA 90210
      President and COO  

Signatures

 Matthew Hart, By Bryan S. White, Attorney-In-Fact   06/01/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes stock units attributable to participant's accounts under the Corporation's Supplemental Retirement and Retention Plan and the Corporation's 2004 Omnibus Equity Compensation Plan, which settle for common stock on a one-for-one basis.
(2) Includes 3,000 shares indirectly owned by Mr. Hart's minor children.

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