HVS International Announces Lodging Leadership Awards
JUNE 5, 2006. HVS Executive Search, a division of the global hotel consulting firm HVS International, has honored Four Seasons Hotels and Resorts (NYSE: FS) as the lodging industry's top performing board of directors for the year 2005 and Stephen Bollenbach, chief executive officer of Hilton Hotels Corporation (NYSE: HLT), as the lodging industry's top performing chief executive officer of 2005.
Top Performing Board of Directors
Keith Kefgen, president of HVS Executive Search, and Stephen Rushmore, president and founder of HVS International, presented the award today to Charles Henry, President of Hotel Capital Advisers, and a member of the Four Seasons Board of Directors, during the 28th Annual New York University International Hospitality Industry Investment Conference. This is the second time Four Seasons received this honor; it also earned this title for the year 2002.
The award is presented each year to the board of directors that is most effective in leading a public lodging company. The ranking is done using a corporate governance model designed by Kefgen, and compares board makeup, independence, committee structure, conflicts of interest and a commitment to pay-for-performance.
"The responsibility of running a public company in today's environment is tremendous," says Kefgen. "With new regulations, strong and effective corporate governance is more critical than ever. "And Four Seasons is the first two-time winner of this award, an accomplishment we regard as impressive and which deserves acknowledgment."
"This honor is a testament to the combination of expertise, intelligence and integrity exhibited by my colleagues on the Board , and I am delighted to accept the award on their behalf," said Henry. "Our industry has faced unprecedented challenges in recent times, and the dedication and support of our board in helping us manage through successfully is worthy of recognition."
Top Performing Chief Executive Officer
HVS Executive Search has honored Stephen Bollenbach, chief executive officer of Hilton Hotels Corporation (NYSE: HLT), as the lodging industry's top performing chief executive officer of 2005. Keith Kefgen, president of HVS Executive Search, and Stephen Rushmore, president and founder of HVS International, presented the award yesterday during the 28th Annual New York University International Hospitality Industry Investment Conference.
The award is presented each year to the lodging industry CEO who offers the best value to shareholders based on a Pay-for-Performance model designed by Kefgen. The model compares CEO compensation to such indicators as stock appreciation, market capitalization, and increases in EBITDA or FFO, to determine the top-performing CEO.
Stephen F. Bollenbach was named co-chairman of Hilton Hotels Corporation in 2004, and is also the company's chief executive officer, a position he has held since joining Hilton in 1996. In the past decade, Bollenbach has overseen a complete transformation of the company including the acquisition of Bally Entertainment, which made Hilton the world's largest casino gaming company. He later spun off Hilton's gaming operations in a tax-free transaction to form Park Place Entertainment (now Harrah's Entertainment). In 1999, Hilton Hotels Corporation acquired Promus Hotel Corporation. The acquisition added 1,400 hotels and several well-known hospitality brands including Doubletree, Embassy Suites Hotels, Hampton and Homewood Suites by Hilton. Most recently, the company acquired the lodging assets of Hilton Group, Plc, re-uniting the Hilton brand for the first time in over 40 years and making Hilton Hotels Corporation the world's largest hotel company (as measured by EDITDA). Under Bollenbach's leadership, the Hilton Family of Hotels has grown to include 2,800 hotels with 485,000 rooms in 80 countries.
"Under Steve's leadership Hilton Hotels Corporation has grown to become one of the world's largest hospitality companies and is positioned as a global leader in the dynamic travel and tourism business. The company's recent Hilton International transaction has created tremendous value to shareholders" says Kefgen.
Matthew J. Hart, president and chief operating officer, Hilton Hotels Corporation, accepted the award on behalf of Mr. Bollenbach who also received the HVS Lodging Leadership Award in 1998.
HVS Executive Search is the nation's leading retained executive search firm specializing in the hospitality industry. Core competencies of the firm also include compensation design and corporate governance consulting. In addition, HVS Executive Search offers online recruitment through www.hospitalitycareernet.com, and employment assessment through www.2020skills.com.
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