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 market is tremendous,� says Kefgen.  �Wall Street has been very unforgiving to companies that have faltered in the area of corporate governance.  But Canadian Pacific�s board has demonstrated a successful commitment to this process.�

�Canadian Pacific Hotels & Resorts is very honored to receive this award,� says Fatt.  �Canadian Pacific Hotel�s parent company board, Canadian Pacific Ltd, has benefited from over a century of experience in the lodging industry.  The board draws on the vast experience of industry and non-industry leaders to ensure the growth of the company is both strategic and in keeping with the needs of stakeholders, owners, associates, and the public.�

�The Board�s recommendation to support the creation of Fairmont Hotels & Resorts, North America�s largest luxury hotel management company, demonstrates their collective foresight and ability to guide the company�s business in a rapidly changing environment.�

Also today, HVS Executive Search has honored Isadore Sharp, Chairman and Chief Executive Officer of Four Seasons Hotels & Resorts, as the lodging industry�s top performing chief executive officer of 1999.  Kefgen and Rushmore presented the award today at the 22nd 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, revenue growth, and increases in earnings before interest, depreciation, and amortization (EBITDA) to determine the top-performing CEO.

Sharp founded the company in 1960 with the opening of the first Four Seasons hotel on Jarvis Street in downtown Toronto.  After a decade of trial and refinement, Sharp created a single vision that today has made Four Seasons the only operator in the world exclusively focused on mid-size luxury hotels and resorts of exceptional quality.  

�Sharp continues to demonstrate his commitment to the brand through an innovative leadership style and a number of highly strategic and decisive activities,� explains Kefgen.  �His ability to attract the capital sources and build a loyal employee base, providing a consistent level of exceptional service, has created the largest luxury hotel management company worldwide.�

Four Seasons Hotels and Resorts is the world�s leading operator of luxury hotels and currently manages 48 properties in 20 countries, primarily under the Four Seasons and Regent brand names.  

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