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David Litman, CEO and Co-founder of Hotels.com, 
Named the Lodging Industry’s Top Performing
CEO of 2002 by HVS Executive Search

 
June 2, 2003 - HVS Executive Search, a division of the global hotel consulting and services firm HVS International, has honored David Litman, chief executive officer and co-founder of Hotels.com (Nasdaq: ROOM) as the lodging industry’s top performing chief executive officer of 2002.  Keith Kefgen, president of HVS Executive Search, and Stephen Rushmore, president and founder of HVS International, presented the award today at the 25th 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 earnings before interest, depreciation and amortization (EBITDA) to determine the top-performing CEO.

David Litman brings more than 18 years of travel-related marketing and management expertise to his role as CEO of Hotels.com (NASDAQ:  ROOM). Dave has been instrumental in the Company’s success. He oversees the Company’s strategic direction, affiliate development, overseas operations, product development, automation and its internet and call center operations. Dave has spearheaded the Company’s growth both on the Internet and through the growth of Hotels.com’s industry leading call centers.  Dave comments, “I am honored to be selected for this award and it is really a testament to the entire Hotels.com team’s ability to deliver shareholder value.”

“David has been the driving force behind Hotels.com’s successes, creating an industry powerhouse,” explains Kefgen.  “He has shown that an Internet business 

Four Seasons Hotels and Resorts Recipient
of Lodging Leadership Award for Board Performance 

June 2, 2003 - 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 2002.  Keith Kefgen, president of HVS Executive Search, and Stephen Rushmore, president and founder of HVS International, presented the award today to Kathleen Taylor, President, Worldwide Business Operations, Four Seasons Hotels and Resorts, at the 25th Annual New York University International Hospitality Industry Investment Conference. 

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.  “With new regulations, stricter guidelines and a re-affirmed commitment to accountability, strong and effective corporate governance is more important than ever.  The board of Four Seasons has demonstrated a successful commitment to this process.”

“This honor is a testament to the combination of expertise, intelligence and integrity exhibited by our board members, and I am delighted to accept the award on their behalf, “ said Taylor.  “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.”

can be financially successful, while revolutionizing the way people make travel arrangements.”

Hotels.com (NASDAQ: ROOM), is the largest specialized provider of discount lodging worldwide, providing service through its own websites (including www.hotels.com and others), more than 33,000 affiliated websites, and its toll-free call centers (1-800-2-HOTELS).  Hotels.com provides accommodations to travelers at over 8,000 properties in more than 360 markets in North America, Europe, the Caribbean and Asia.  The company offers a one-stop shopping source for hotel pricing, amenities and availability, and also specializes in providing travelers with accommodations for sold-out periods. Hotels.com is a majority-owned subsidiary of USA Interactive (NASDAQ: USAI).

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.


 
Contact:
HVS
Leora Halpern Lanz
516-248-8828 x278
llanz@hvsinternational.com
Also See: J.W. Marriott, Jr. and the Board of Directors of Choice Hotels Receive HVS Executive Search Lodging Leadership Awards / June 2001
HVS Executive Search Awards Canadian Pacific Hotels & Resorts with Most Effective Board of Directors in Leading a Public Company and Isadore Sharp as Lodging CEO Providing Best Value to Shareholders / June 2000 


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