|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
can be financially successful, while revolutionizing the way people make
|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
Four Seasons Hotels and
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
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
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).
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.