Keith Kefgen, president of HVS Executive Search, and Stephen Rushmore, president and founder of HVS International, presented the awards today at the 23rd Annual New York University International Hospitality Industry Investment Conference.

Top Performing Chief Executive

The top performing chief executive officer 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 earnings before interest, depreciation and amortization (EBITDA) to determine the top-performing CEO.

Bill Marriott became CEO of Marriott in 1972, taking over the reigns from his father, J.Willard Marriott, who, with his wife, Alice S. Marriott, founded the company in 1927. Since becoming chief executive, Marriott has led his company through tremendous growth as it has emerged as a preeminent Fortune 200 worldwide hospitality company and a leading consumer brand name. In the past 29 years with Marriott at the helm, the company has expanded from 18 hotels and one brand in the U.S. to more than 2,100 hotels and timeshares, over 400,000 rooms and 15 lodging brands in 60 countries. 

�Bill Marriott has created a world-leading hospitality brand company, including many of the most preferred names across nearly all segments of the lodging industry, � explains Kefgen.  �Marriott International continues to grow � with a goal of adding 35,000 new rooms both this year and next, and is one of the most successful names in the industry measured against a wide array of criteria.  His company�s strength is a tribute to his constant dedication to customer service, combined with a strategic focus that can only be called visionary.�

Top Performing Board of Directors

The top performing board of directors 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 market is tremendous,� says Kefgen.  �Wall Street has been very unforgiving to companies that have faltered in the area of corporate governance.  But in just three-and-a-half years since its inception, Choice�s board has demonstrated a successful commitment to this process.�

�On behalf of the board, Choice is extremely honored to receive this award, � said Chief Executive Officer Charles A. Ledsinger, Jr., who is also a member of Choice�s Board of Directors. �Our board is comprised of executives from a variety of backgrounds relevant to our business, including hoteliers and corporate leaders.  The board�s stewardship of Choice�s activities and initiatives has proven invaluable as we mature as a public company.�

Choice�s board of directors was established in October 1997 at the company�s initial public launch on the New York Stock Exchange.  As part of its structure, Choice�s board has established corporate governance guidelines intended as a benchmark for best practices in corporate governance.  The main tenets of the guidelines include an annual CEO evaluation by independent directors, annual assessment of board effectiveness, no interlocking directorships permitted, and a requirement that directors each hold a pre-established level of stock in the company.  �These guidelines are designed to move us toward our ultimate objective � creating value for associates, franchisees, guests who stay at Choice brand hotels and, most importantly, our shareholders,� Ledsinger said.

HVS Executive Search is the nation�s leading retained executive search firm specializing in the hospitality industry.