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Filed Pursuant to Rule 424(b)(3)
Registration No. 333-107159

Prospectus Supplement No. 3 dated April 14, 2004
(To Prospectus dated August 20, 2003)

HILTON HOTELS CORPORATION
$575,000,000
3.375% Convertible Senior Notes due 2023

        This prospectus supplement supplements the prospectus dated August 20, 2003, as amended and supplemented from time to time (the "Prospectus") of Hilton Hotels Corporation, relating to the resale by holders of our 3.375% Senior Convertible Notes due 2023 (the "Notes") and the shares of our common stock issuable upon conversion of the Notes.

        This prospectus supplement should be read in conjunction with the Prospectus. This prospectus supplement is not complete without, and may not be delivered or utilized except in connection with, the Prospectus.

        Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of the Prospectus or this prospectus supplement. Any representation to the contrary is a criminal offense.

        The following table sets forth certain information, as of April 14, 2004 with respect to the principal amount of Notes beneficially owned and the number of shares of common stock issuable upon conversion of those Notes that may be offered from time to time under the Prospectus by the selling securityholders named in the table. This information is based on information provided by or on behalf of the selling securityholders. The selling securityholders may offer all, a portion or none of the Notes or common stock issuable upon conversion of the Notes. Because the selling securityholders may offer all or a portion of the Notes or common stock, we cannot estimate the amount of the Notes or the common stock that will be held by the selling securityholders upon termination of any of these sales. In addition, selling securityholders identified below may have sold, transferred or otherwise disposed of all or a portion of their Notes since the date on which they provided the information regarding their Notes in transactions exempt from the registration requirements of the Securities Act. The percentage of Notes outstanding beneficially owned by each selling securityholder is based on $575,000,000 aggregate principal amount of Notes outstanding. The number of shares of common stock owned prior to the offering does not include shares of common stock issuable upon conversion of the Notes. The number of shares of common stock issuable upon conversion of the Notes is based on an initial conversion price of $22.50 per share. This conversion rate is subject to adjustment as described under "Description of the Notes—Conversion Rate Adjustments" in the Prospectus. Accordingly, the number of conversion shares may increase or decrease from time to time. Unless set forth below, to our knowledge none of the selling securityholders has had a material relationship with us or any of our affiliates within the past three years.

        The Prospectus is hereby supplemented as follows to restate, in its entirety, the table of selling security holders under the caption "Selling Securityholders" contained on pages 39-44 of the Prospectus:

Name		Principal Amount of Notes Beneficially Owned and Offered		Percentage of Notes Outstanding		Shares of Common Stock Owned Prior to the Offering(1)		Conversion Shares Offered(2)		Percentage of Common Stock Outstanding(3)
AIG DKR SoundShore Opportunity Holding Fund Ltd.		4,000,000		*		—		177,777		*
Akanthos Arbitrage Master Fund, L.P.		5,000,000		*		—		222,222		*
Alcon Laboratories		419,000		*		—		18,622		*

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Allstate Insurance Company		1,500,000		*		33,200	(4)	66,666		*
Arapahoe County, Colorado		51,000		—		—		2,266		*
Argent Classic Convertible Arbitrage (Bermuda) Fund Ltd.		1,350,000		*		—		60,000		*
Argent Classic Convertible Arbitrage Fund L.P.		650,000		*		—		28,888		*
Argent Low Lev Convertible Arbitrage Fund Ltd.		7,800,000		1.36	%	—		346,666		*
Argent LowLev Convertible Arbitrage Fund LLC		1,200,000		*		—		53,333		*
Arlington County Employees Retirement System		723,000		*		—		32,133		*
Asante Health Systems		93,000		*		—		4,133		*
Asymmetric Convertible Fund Ltd.		2,500,000		*		—		111,111		*
Bank America Pension Plan		1,500,000		*		—		66,666		*
Bank Austria Cayman Islands, LTD		2,500,000		*		—		111,111		*
Bank of America Securities LLC(5)		4,534,000		*		—		211,511		*
Barclays Global Investors Limited		500,000		*		—		22,000		*
Beamtenversicherungskasse des Kantons Zurich		2,700,000		*		—		120,000		*
British Virgin Islands Social Security Board		96,000		*		—		4,266		*
City and County of San Francisco Retirement System		1,600,000		*		—		71,111		*
City of New Orleans		220,000		*		—		9,777		*
City University of New York		162,000		*		—		7,200		*
Clinton Convertible Managed Trading Account 1 Limited		320,000		*		—		14,222		*
Clinton Multistrategy Master Fund, Ltd.		6,115,000		1.06	%	—		271,777		*
CNH CA Master Account, L.P.		1,000,000		*		—		44,444		*
Coda KPHE Convertible Fund		100,000		*		—		4,444		*
Coda Capital Management LLC		400,000		*		—		17,777		*
Context Convertible Arbitrage Fund, L.P.		825,000		*		—		36,666		*
Context Convertible Arbitrage Offshore, LTD		1,175,000		*		—		52,222		*
Continental Assurance Co. on Behalf of its Separate Account (E)		900,000		*		—		40,000		*
Continental Casualty Company		7,100,000		1.23	%	—		315,555		*
DBAG-London		41,750,000		7.26	%	—		1,855,555		*
Delaware Public Employees Retirement System		1,677,000		*		—		74,533		*
Deutsche Bank Securities Inc.(5)		500,000		*		—		22,222		*
Dylan (IMA) LTD		5,000,000		*		—		222,222		*
Erste Bank der esterreichischen Sparkassen AG		2,000,000		*		—		88,888		*

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Excelsior Master Fund L.P.		1,000,000		*		—		44,444		*
Family Service Life Insurance Co.		100,000		*		—		4,444		*
Gaia Offshore Master Fund Ltd.		900,000		*		—		40,000		*
Gasner Investors Holdings Ltd.		2,500,000		*		—		111,111		*
Geode U.S. Convertible Arbitrage Fund, a series of Geode Invetors, LLC		1,000,000		*		—		44,444		*
Georgia Municipal Employees Benefit System		642,000		*		—		28,533		*
GLG Market Neutral Fund		15,000,000		2.61	%	—		666,666		*
Grady Hospital Foundation		144,000		*		—		6,400		*
Guardian Life Insurance Co.		5,200,000		*		—		231,111		*
Guardian Pension Trust		400,000		*		—		17,777		*
Guggenheim Portfolio Co. XV, LLC		850,000		*		—		37,777		*
HFR Arbitrage Fund		578,000		*		—		25,688		*
HFR TQA Master Trust c/o TQA Investors, LLC		74,000		*		—		3,288		*
Highbridge International LLC		10,000,000		1.74	%	—		444,444		*
Investec Bank (UK) Limited		500,000		*		—		22,222		*
Jefferies Umbrella Fund Global Convertible Bond		50,000		*		—		2,222		*
John Deere Pension Trust		500,000		*		—		22,222		*
KBC Financial Products USA Inc.		450,000		*		—		20,000		*
LDG Limited		89,000		*		—		3,955		*
Lexington Vantage Fund c/o TQA Investors		16,000		*		—		711		*
Lydian Global Opportunities Master Fund Limited		7,500,000		1.30	%	—		333,333		*
Lydian Overseas Partners Master Fund		48,000,000		8.35	%	—		2,133,333		*
Lyxor/Gaia II Fund Ltd.		1,850,000		*		—		82,222		*
Lyxor Master Fund		2,000,000		*		—		88,888		*
McMahan Securities Co. L.P.		36,000		*		—		1,600		*
Meadow IAM Limited		410,000		*		—		18,222		*
Merrill Lynch, Pierce, Fenner and Smith, Inc.		300,000		*		—		13,333		*
MFS Total Return Fund, a Series of Series Trust V		8,500,000		1.47	%	—		377,777		*
Mill River Master Fund, L.P.		1,500,000		*		—		66,666		*
Morgan Stanley Income Builder Fund		2,000,000		*		—		88,888		*
Morgan Stanley Variable Income Builder Fund		1,000,000		*		—		44,444		*
Municipal Employees		259,000		*		—		11,511		*
Nisswa Master Fund Ltd.		3,000,000		*		—		133,333		*
NMIC Gartmore / Coda Convertible Portfolio		2,000,000		*		—		88,888		*
Occidental Petroleum Corporation		287,000		*		—		12,755		*

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Oppenheimer Convertible Securities Fund		4,000,000		*		—		177,777		*
Pacific Life Insurance Company		500,000		*		—		22,222		*
Pensionskasse der Antalis AG		40,000		*		—		1,777		*
Pensionskasse der Ems-Chemie AG		50,000		*		—		2,222		*
Pensionskasse der Ems- Dottikon AG		70,000		*		—		3,111		*
Pensionskasse der Lonza AG		100,000		*		—		4,444		*
Pensionskasse der PV Promea AG		80,000		*		—		3,555		*
Pensionskasse der Rockwell Automation AG		40,000		*		—		1,777		*
Pensionskasse Vantico		60,000		*		—		2,666		*
Peoples Benefit Life Insurance Company Teamsters		12,500,000		2.17	%	—		555,555		*
Pro-Mutual		812,000		*		—		36,088		*
Putnam Convertible Income- Growth Trust		7,500,000		1.3	%	—		333,333		*
Ramius, LP		150,000		*		—		6,666		*
Ramius Capital Group		500,000		*		—		22,222		*
Ramius Master Fund, LTD		3,425,000		*		—		152,222		*
Ramius Partners II, L.P.		200,000		*		—		8,888		*
RCG Baldwin, L.P.		600,000		*		—		26,666		*
RCG Halifax Master Fund, LTD		500,000		*		—		22,222		*
RCG Latitude Master Fund, LTD		4,925,000		*		—		218,888		*
RCG Multi Strategy Master Fund, LTD		800,000		*		—		35,555		*
Sphinx Convertible Arb Fund Master Fund Ltd.		38,000		*		—		1,688		*
Sphinx Fund c/o TQA Investors, LLC		17,000		*		—		755		*
St. Albans Partners Ltd		14,000,000		2.43	%	—		622,222		*
State of Maryland Retirement Agency		3,469,000		*		—		154,177		*
Sunrise Partners Limited Partnership		4,500,000		*		13,332		200,000		*
The City University of New York		162,000		*		—		7,200		*
The Coast Fund, L.P.		10,000,000		1.74	%	—		444,444		*
The Grable Foundation		96,000		*		—		4,266		*
Thrivent Financial for Lutherans		3,000,000		*		—		133,333		*
TQA Master Fund, LTD		828,000		*		—		36,800		*
TQA Master Plus Fund, LTD		571,000		*		—		25,377		*
Topanga XI		700,000		*		—		31,111		*
Tribeca Investments LTD		2,500,000		*		—		111,111		*
Trustmark Insurance		314,000		*		—		13,955		*
UBS AG London Branch		82,500,000		6.99	%	—		3,666,666		*
UBS Securities LLC(5)		13,125,000		2.28	%	—		583,333		*
Victory Capital Management as Agent for Charitable Income Fund		225,000		*		—		10,000		*
Victory Capital Management as Agent for Field Foundation of Illinois		95,000		*		—		4,222		*

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Victory Capital Management as Agent for GenCorp Foundation		40,000		*		—		1,777		*
Victory Capital Management as Agent for Key Trust Fixed Income Fund		290,000		*		—		12,888		*
Victory Capital Management as Agent for the Charitable Convertible Securities Fund		575,000		*		—		25,555		*
Victory Capital Management as Agent for the Cleveland News Public Local 473		15,000		*		—		666		*
Victory Capital Management as Agent for the EB Convertible Securities Fund		885,000		*		—		39,333		*
Victory Capital Management as Agent for the Key Trust Convertible Securities Fund		175,000		*		—		7,777		*
Victory Capital Management as Agent for the Special District of Oregon		55,000		*		—		2,444		*
Victory Capital Management as Agent for the Victory Convertible Securities Fund		570,000		*		—		25,333		*
Victory Capital Management as Investment Manager for CompSource Oklahoma		625,000		*		—		27,777		*
Victory Capital Management as Investment Manager for Georgia Municipal Employees Retirement Trust Foundation		790,000		*		—		35,111		*
Victory Capital Management as Investment Manager for Potlarch		515,000		*		—		22,888		*
Victory Capital Management as Investment Manager for Stamford Police Pension Fund		50,000		*		—		2,222		*
Victory Capital Management as Investment Manager for the California State Auto Assoc Inter-Insurance		595,000		*		—		26,444		*
Victory Capital Management as Investment Manager for the California State Auto Assoc Retirement Pension Plan		90,000		*		—		4,000		*
Victory Capital Management as Investment Manager for the California State Auto Assoc ASNF		55,000		*		—		2,444		*

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Victory Capital Management as Investment Manager for the Health Foundation of Greater Cincinnati		155,000		*		—		6,888		*
Wachovia Securities LLC(5)		300,000		*		—		13,333		*
Xavex Convertible Arbitrage #5		550,000		*		—		24,444		*
Xavex-Convertible Arbitrage 7 Fund c/o TQA Investors		300,000		*		—		13,333		*
Xavex Risk Arbitrage Fund 2		500,000		*		—		22,222		*
Yield Strategies Fund I L.P.		3,500,000		*		—		155,555		*
Yield Strategies Fund II L.P.		3,500,000		*		—		155,555		*
Zazove Convertible Arbitrage Fund LP		1,000,000		*		—		44,444		*
Zurich Institutional Benchmark		1,000,000		*		—		44,444		*
Zurich Institutional Benchmark Master Fund		400,000		*		—		17,777		*
Zurich Institutional Benchmarks Master Fund, LTD. c/o TOA Investors, LLC		105,000		*		—		4,666		*
1976 Distribution Trust FBO A.R. Lauder/Zinterhofer		8000		*		—		355		*
2000 Revocable Trust FBO A.R. Lauder/Zinterhofer		8,000		*		—		355		*

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*

Less than one percent of the Notes or common stock outstanding, as applicable

(1)

Does not include shares of common stock issuable upon conversion of the Notes.

(2)

Consists of shares of common stock issuable upon conversion of the Notes, assuming a conversion price of $22.50 per share and a cash payment in lieu of any fractional share interest. The conversion price is subject to adjustment as described under "Description of the Notes-Conversion Rate Adjustments."

(3)

Calculated based on Rule 13d-3(d)(i) under the Securities Exchange Act of 1934, as amended, using 379,390,202 shares outstanding on September 30, 2003. In calculating this amount, we treated as outstanding the number of shares of common stock issuable upon conversion of the Notes. However, we did not assume the conversion of any other holder's Notes.

(4)

Certain qualified ERISA plans maintained for the benefit of agents and employees of Allstate Insurance Company own 19,600 shares of the Company's common stock. Allstate Insurance Company disclaims any interest in such shares of common stock, although the investment committees for such plans consist of Allstate Insurance Company officers.

(5)

This holder has provided investment or commercial banking and financial advisory services to us within the past three years for which they have received customary fees.

6

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Prospectus Supplement No. 3 dated April 14, 2004 (To Prospectus dated August 20, 2003)