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THE 2008 HOTEL INDUSTRY CEO SURVEY

(CEOS RANKED BY TOTAL COMPENSATION)1

PAY
RANK
CEO COMPANY SALARY
($K)
SHORT-TERM
INCENTIVE ($K)
OTHER
($K)
LONG-TERM
INCENTIVE ($K)
TOTAL
($K)
HVS VALUE
INDEX 2
OWNERSHIP
1
Iger, Robert, A Walt Disney $2,000 $13,671 $1,854 $10,175 $27,699 91.0 $9,839,956
2
Marriott, Jr., J. W. Marriott Intl, Inc. $1,176 $2,167 $365 $8,441 $12,597 92.0 $2,107,191,019
3
Scheetz, Edward W. Morgans Hotel Group $562 $750 $63 $10,083 $11,457 89.1 $50,413,151
4
Heyer, Steven J.* Starwood Hotels & Resorts $1,323 $0 $251 $246 $9,963 87.2 $0
5
Arison, M. Micky Carnival $850 $2,925 $407 $5,569 $9,750 87.9 $8,350,854,550
6
Fain, Richard D. Royal Caribbean $1,018 $2,991 $131 $2,618 $6,757 84.8 $79,597,026
7
Ledsinger, Charles A. Choice Hotels International $790 $1,107 $1,494 $2,852 $6,243 82.9 $19,299,525
8
Tisch, Jonathan M.** Loews Hotels $975 $2,000 $1,582 $511 $5,068 107.2 $290,598,876
9
Geller, Laurence Strategic Hotels & Resorts $750 $1,500 $23 $2,498 $4,770 89.1 $271,026
10
Boyd, Jeffery Priceline.com $546 $1,350 $7 $2,671 $4,574 141.4 $70,508,764
11
Cole, David C. Maui Land $550 $0 $1,132 $2,453 $4,135 74.8 $13,569,743
12
Reed, Colin V. Gaylord Entertainment $856 $1,060 $159 $1,799 $3,875 85.1 $42,089,002
13
Katz, Robert, A Vail Resorts, Inc. $830 $1,012 $20 $1,671 $3,533 115.5 $14,030,581
14
Ratner, Charles A. Forest City $500 $368 $81 $2,584 $3,532 104.1 $407,491,113
15
Bennett, Montgomery Ashford Hospitality $700 $585 $0 $1,746 $3,031 87.5 $32,837,320
16
Rummell, Peter S. St Joe Co $862 $366 $457 $1,153 $2,837 66.3 $45,169,856
17
Alter, Robert Sunstone Hotel Investors $569 $533 $578 $1,019 $2,698 101.3 $12,149,614
18
Emery, John* Great Wolf Resorts $475 $563 $37 $1,224 $2,299 70.7 $9,348,302
19
McCarten, William W. DiamondRock $537 $465 $37 $1,103 $2,141 169.9 $6,196,252
20
Smith, Richard A. Felcor Lodging Trust $536 $439 $36 $1,069 $2,080 47.4 $8,396,805
21
Hewitt, Thomas Interstate Hotels & Resorts $496 $971 $63 $377 $1,907 66.6 $1,933,910
22
Bortz, Jon E. LaSalle Hotel Properties $510 $0 $308 $1,083 $1,901 211.9 $4,623,905
23
Maloney, John M. Bluegreen Corp $600 $750 $13 $319 $1,682 60.1 $857,781
24
Shah, Jay Hersha Hospitality $400 $400 $67 $292 $1,159 101.5 $14,876,421
25
Rohling, Edward* Lodgian $590 $220 $18 $271 $1,099 53.1 $0
26
Nassetta, Christopher J.* Host Hotels & Resorts $934 $0 $133 $0 $1,067 120.0 $868,171
27
Coffey, Arthur M.* Red Lion Hotels $389 $253 $15 $390 $1,046 153.8 $4,769,144
28
Marcus, Stephen H. Marcus $587 $493 ($67) $0 $1,013 62.5 $441,839
29
Sonnabend, Stephanie & Peter Sonesta International $713 $67 $122 $0 $902 203.9 $16,175,670
30
Martori, Joseph P. ILX Resorts Inc. $471 $0 $0 $0 $471 0.5 $3,042,022
31
Schulte, Paul Supertel Hospitality $250 $18 $25 $8 $301 209.3 $6,196,617

1) Minimum of $300,000 in total compensation to be included
2) "HVS Pay-For-Performance Index" is based on an average of 100. Stock market data garnered from Smart Money and based on years ending December 31, 2004-2007

*No longer CEO
**A portion of Mr. Tisch's compensation is earned for serving in the Office of the President of Loews Corporation (parent of Loews Hotels)

SOURCE: HVS Executive Search