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THE 2007 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 $15,000 $666 $4,710 $22,376 48.3 $8,745,021
2 Nassetta, Christopher J. Host Hotels & Resorts $850 $1,570 $179 $10,521 $13,120 50.2 $47,757,311
3 Marriott, Jr., J. W. Marriott Intl, Inc. $1,120 $1,376 $330 $9,771 $12,597 51.8 $2,964,293,621
4 Bollenbach, Stephen Hilton Hotels $1,000 $2,138 $371 $8,720 $12,229 53.8 $3,839,000
5 Heyer, Steven J.* Starwood Hotels & Resorts $1,000 $2,000 $578 $6,385 $9,963 52.3 $12,849,401
6 Arison, M. Micky Carnival $850 $2,600 $510 $3,251 $7,211 52.1 $9,453,158,787
7 Fain, Richard D. Royal Caribbean $1,018 $2,915 $147 $1,884 $5,963 55.4 $86,982,995
8 Ledsinger, Charles A. Choice Hotels International $750 $1,162 $791 $2,826 $5,529 56.8 $22,388,738
9 Tisch, Jonathan M.** Loews Hotels $1,275 $1,500 $1,358 $910 $5,043 70.0 $187,651,874
10 Donovan, George P. Bluegreen Corp $500 $561 $3,058 $825 $4,944 68.1 $2,144,201
11 Rummell, Peter S. St Joe Co $833 $0 $669 $2,693 $4,195 60.4 $70,121,148
12 Scheetz, Edward W. Morgans Hotel Group $750 $750 $0 $2,644 $4,144 52.5 $40,416,934
13 Reed, Colin V. Gaylord Entertainment $823 $1,236 $146 $1,765 $3,970 64.2 $49,115,619
14 Boyd, Jeffery Priceline.com $492 $1,000 $0 $2,239 $3,731 69.1 $28,674,796
15 Silver, Howard Equity Inns $450 $1,103 $296 $1,555 $3,403 64.0 $7,038,935
16 Geller, Laurence Strategic Hotels & Resorts $574 $1,050 $57 $1,539 $3,220 62.2 $239,690
17 Bennett, Montgomery Ashford Hospitality $650 $813 $0 $1,413 $2,875 67.9 $51,819,676
18 Alter, Robert Sunstone Hotel Investors $569 $533 $578 $1,019 $2,698 63.5 $12,149,614
19 McCarten, William W. DiamondRock $515 $773 $38 $903 $2,228 220.9 $7,507,600
20 Katz, Robert, A Vail Resorts, Inc. $405 $408 $7 $1,399 $2,219 84.2 $4,571,302
21 Ratner, Charles A. Forest City $500 $482 $74 $692 $1,748 84.5 $179,806,592
22 Fisher, Jeffrey H. Innkeepers USA $400 $232 $55 $946 $1,633 85.4 $29,769,331
23 Emery, John Great Wolf Resorts $416 $302 $19 $837 $1,573 74.9 $205,485
24 Corcoran, Thomas Jr.* Felcor Lodging Trust $473 $379 $23 $686 $1,561 79.8 $8,209,765
25 Cole, David C. Maui Land $550 $50 $71 $844 $1,515 104.9 $14,698,757
26 Rohling, Edward Lodgian $563 $330 $20 $392 $1,304 77.8 $1,224,503
27 Hewitt, Thomas Interstate Hotels & Resorts $400 $500 $112 $259 $1,272 104.7 $2,382,381
28 Bortz, Jon E. LaSalle Hotel Properties $475 $0 $111 $550 $1,136 126.6 $6,753,797
29 Pitoniak, Edward Canadian Hotel Income Properties $369 $500 $18 $0 $887 172.7 $315,735
30 Marcus, Stephen H. Marcus $538 $334 $8 $0 $880 121.2 $742,404
31 Coffey, Arthur M. Red Lion Hotels $355 $234 $14 $243 $845 153.3 $2,024,045
32 Blackham, William J. Eagle Hospitality $300 $197 $63 $179 $739 92.9 $2,303,510
33 Sonnabend, Peter J. Sonesta International $418 $11 $143 $0 $572 215.9 $4,536,936
34 Fair, William J. American Skiing Co. $469 $0 $16 $0 $486 215.2 $100,000
35 Martori, Joseph P. ILX Resorts Inc. $354 $0 $0 $0 $354 203.1 $8,322,372
36 Schulte, Paul Supertel Hospitality $250 $35 $22 $21 $328 171.1 $6,802,287
37 Shah, Hasu* Hersha Hospitality $125 $0 $22 $33 $180 220.0 $4,831,112

1) Minimum of $130,000 in total compensation to be included
2) "HVS Pay-For-Performance Index" is based on an average of 100.0 Stock market data garnered from Smart Money and based on years ending December 31, 2003-2006

*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