HVS presents its annual lodging leadership awards
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HVS presents its annual lodging leadership awards
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Category: Worldwide - Events -
Rewards
This is a press release selected by our editorial committee and published online for free on 2008-06-05
HVS Executive Search, a division of HVS, the globally renowned hotel consulting and services firm, has honored Jon E. Bortz, Chief Executive Officer of LaSalle Hotel Properties (NYSE: LHO),as the lodging industry\\\'s top-performing Chief Executive Officer of 2007 and Morgans Hotel Group Co. (NASDAQ: MHGC) (\\\"MHG\\\") as the lodging industry\\\'s top-performing board of directors for 2007. Keith Kefgen, President of HVS Executive Search, and Steve Rushmore, President and founder of HVS, presented the awards to Jon Bortz, Chief Executive Officer of LaSalle Hotel Properties, and to Robert Friedman, Board Director of MHG, during the 30th Annual New York University International Hospitality Industry Investment Conference.
The CEO of the Year honor is awarded 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 EBITDA or FFO, to determine the top-performing CEO.
Jon E. Bortz has served as Chairman of the Company\\\'s Board of Trustees since January 1, 2001, as a trustee of the Company since 1998, and as President and Chief Executive Officer of the Company since its formation. Under his leadership, LaSalle Hotel Properties has been the topperforming Real Estate Investment Trust (\\\"REIT\\\") of any asset class twice over the last nine years and has outperformed all hotel REIT competitors on a total return basis since inception.
Prior to joining LaSalle Hotel Properties, Mr. Bortz founded the Hotel Group of Jones Lang LaSalle Incorporated (\\\"Jones Lang LaSalle\\\"), and as President, oversaw all of Jones Lang LaSalle\\\'s hotel investment and development activities. From January 1995 as Managing Director of Jones Lang LaSalle\\\'s Investment Advisory Division, he was also responsible for certain east coast development projects, including the redevelopment of Grand Central Terminal in New York City. From January 1990 to 1995, he was a Senior Vice President of Jones Lang LaSalle\\\'s Investment Division, with responsibility for east coast development projects and workouts, including the redevelopment of Union Station in Washington, D.C. Mr. Bortz joined Jones Lang LaSalle in 1981. He is a member of the Board of Governors of the National Association of Real Estate Investment Trusts, and he serves on the board of trustees of Federal Realty Investment Trust and Metropark USA, Inc. Mr. Bortz holds a B.S. in Economics from The Wharton School of the University of Pennsylvania and is a Certified Public Accountant in Maryland. LaSalle Hotel Properties is a leading REIT, owning 31 upscale and luxury full-service hotels and resorts, totaling approximately 8,500 guestrooms in 14 markets in 11 states and the District of Columbia.The Company focuses on investing in upscale and luxury full-service hotels located in urban, resort, and convention markets. LaSalle Hotel Properties seeks to increase shareholder value through strategic investments, aggressive asset management, and partnering with premier hotel operating companies. More information about Jon E. Bortz and LaSalle Hotel Properties can be found at www.lasallehotels.com. \\\"
Under Jon\\\'s leadership, LaSalle Hotel Properties has been one of the best-performing hotel stocks,\\\" explains Kefgen. \\\"LaSalle has built a high-quality portfolio consisting of upscale and luxury full-service hotels that is diversified by market, brand, operator and customer, while maintaining a conservative balance sheet and staying true to its mission of providing a reliable stream of income with moderate long-term earnings growth.\\\"
The Top-Performing Board of Directors of the Year award, also presented annually, is presented 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-forperformance.
\\\"MHG is honored to receive this award,\\\" said David Hamamoto, Chairman of MHG. \\\"Our Board comprises seasoned executives with significant experience in the hospitality and entertainment industries. Together with our strong management team, the MHG Board has successfully executed on our strategy of growing our brands.\\\"
\\\"The MHG Board, while relatively young, has been deeply involved in the Company\\\'s strategic vision and has demonstrated a strong commitment to corporate governance,\\\" says Kefgen. \\\"They have also provided invaluable insight with regard to MHG\\\'s growth strategy and successfully steered the Company during its management change last year.\\\"
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