Summa Corporation

Summa Corporation was a holding company for the business interests of Howard Hughes after he sold the tool division of Hughes Tool Company in 1972. Its holdings included casino hotels, aviation businesses, and television channels. After Hughes's death in 1976, most of the company's assets were sold off, and it focused on developing the master-planned community of Summerlin, Nevada. Summa was renamed as The Howard Hughes Corporation in 1994. It was acquired by The Rouse Company in 1996. Properties This holding company contained Hughes' varied investments including: KLAS-TV - the Las Vegas CBS affiliate, reportedly purchased because Hughes was dismayed that the station never played his favorite late night movies. Hughes Airwest - a regional airline Hughes Sports Network Hughes Helicopters - a former division of Hughes Aircraft Company retained by Summa when the remainder of the aircraft business was donated to the Howard Hughes Medical Institute as its endowment Sands Hotel Frontier Hotel and Casino Landmark Hotel and Casino Castaways Hotel and Casino Desert Inn Silver Slipper Casino Xanadu Princess Resort Hughes Nevada Mining General American Oil Company History Before 1972, Summa Corporation was named Hughes Tool Company. It was established in 1908 as a manufacturer of oil drilling tools. Under the ownership of Howard Hughes, the company expanded over the years into various other businesses, including aviation, media, and casino hotels. In 1972, the company sold its tool business to investors via an initial public offering as a new entity named Hughes Tool Company. At that time, the parent company changed its name to Summa Corporation. The name "Summa", Latin for "highest", was allegedly chosen by several of Hughes's employees without consulting him first. Hughes was allegedly dissatisfied, and preferred the name "HRH Properties", with the initials standing for both "Howard Robard Hughes" and "Hughes Resort Hotels", but his suggestion was ignored.