Investment Conference has become the most important gathering of hotel
investors, financiers and leading industry professionals in Asia.
The 13th
Hotel Investment Conference Asia Pacific (HICAP) enjoyed its most
successful
year with overwhelming attendance by hotel owners, hoteliers, analysts,
journalists and property investors. This year's event featured
Barry
Sternlicht has been credited as a dynamic and innovative hotel leader,
inspiring new products and programs with immediate global appeal,
including
a revolutionary new guest room design for Sheraton, the creation of
Westin's
"Heavenly Bed" and the launch of the Starwood Preferred Guest
program. Less
than four months after its launch, it was named the #1 Hotel Loyalty
Program
as reported by USA Today. The program has also been named Hotel
Frequent
Guest "Program of the Year" by business travelers at the annual
Freddie
properties, which has proven to be a big draw for the world's most
frequent
travelers.
Sternlicht is also responsible for the launch of the first new hotel brand
successful new brand in hotel history and has expanded into key cities
such
as New York (5), Atlanta, Chicago (2), Honolulu, Los Angeles, New Orleans
(2), Newark, San Francisco, Seattle and Sydney. W will celebrate its
fourth
anniversary this year when it opens its 17th hotel in San Diego. A
total of
19 W hotels will be open by the end of 2003, including new hotels in Seoul
and Mexico City.
Described as "Style Hotels," each W features distinctive and
dramatic décor.
W invites you to a new brand of business hotels, unlike anything else
available, providing the personality and style of a boutique hotel with
the
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel
and
leisure companies in the world with more than 750 properties in 80
countries
operator and franchiser of hotels and resorts including: St. Regis, The
Luxury Collection, Sheraton, Westin, Four Points by Sheraton and W brands,
as well as Starwood Vacation Ownership, Inc., one of the premier
developers
and operators of high quality vacation interval ownership resorts. For
Survey
Names the Top 10 Issues
Facing
the Travel Industry;
HSMAI Polls 7,000 Members
MCLEAN, VA (Oct. 18, 2002) – Terrorism fears and the
economy, along with human resource related issues of lack of quality labor
available, the need for training, retention and turnover of employees and
compensation have been identified as the top issues facing both the travel
and hospitality industries, as well as the sales and marketing profession
within the industry, by the members of the Hospitality Sales &
Marketing Association International (HSMAI).
“These key issues, many of which are the subject of HSMAI
Chapter seminars and luncheons throughout the world, have increased the
value and importance of HSMAI membership for hospitality industry
employees, managers and senior executives as we all find the need to
communicate in the new business arena that has evolved today,” said
Robert A. Gilbert, CHME, CHA, president and CEO of HSMAI.
HSMAI polled its 7,000 members on key issues facing the
industry along with opinions on activities within the organization.
According to the survey, the top 10 issues facing the travel industry and
sales and marketing professionals include:
Terrorism fear and safety concerns
Human resource issues such as turnover, training,
compensation and availability of labor
Technology and distribution
Sales and marketing skill competencies
Competition
Budgets
Creativity, moral and balance of personal and work life
Changing customer profile
Rate and price integrity
Speed required to do business today
In looking at the overall member value perception, the value
of HSMAI membership remains stable with 92% of the members saying they
were very likely or likely to renew their membership.
There is no one thing that is singularly important to all
members, the survey showed, however, the importance ranking of all
programs went up in the past year and quality rankings improved as well.
Significantly, web site utilization increased, and the
percentage of members who have their companies pay for the membership
dropped from 90% to 86%.
Turnover of employees is always a concern of both employers
and employees, and the HSMAI survey showed that nearly half of the members
have remained in their jobs for more than two years and 63% are with the
same employer.
A total of 47% of the survey respondents were with the same
employer in the same job for the past two years versus 35% in last
year’s survey. Additionally, 39% feel they will be with the same
employer in a more advanced position two years from now versus 43% who
felt that way last year.
Of the eight percent of the membership that are not likely to
renew their membership in HSMAI, most said that the lack of time was the
most significant factor.
The HSMAI Chapters remain the most important reason for
people joining HSMAI with a total of 60 Chapters throughout the world.
A total of 58% of the members regularly attend Chapter functions, an
increase of five percentage points over 2001.
The HSMAI Marketing Review magazine, published quarterly and
distributed to members, as well as available by subscription to
non-members for an annual cost of $65, was ranked second in importance,
and the HSMAI web site and Update publications produced by HSMAI to keep
members informed were next in importance.
More than 70% of the members said HSMAI Affordable Meetings
and the Annual Chapter Leadership Summit Conference were important
programs.
The Chapter Leadership Summit Conference, followed by the
HSMAI Marketing Review, were ranked as the highest quality programs from
HSMAI. Other events and HSMAI Affordable Meetings were ranked next
in line for quality.
The preferred methods of program delivery remains
overwhelming “face-to-face” with 79% of the membership placing this at
the top of their preference list.
The leading benefits continue to be “networking” and
“enhancement of the sales and marketing professions,” and the most
important aspect of networking is considered to be “motivation and
inspiration” followed by building business alliances and partnerships.
HSMAI is an organization of sales and marketing professionals
representing all segments of the hospitality industry. With a strong
focus on education, HSMAI has become the industry champion in identifying
and communicating trends in the hospitality industry, while operating as a
leading voice for both hospitality and sales and marketing management
disciplines. Founded in 1927, HSMAI is an individual membership
organization comprised of nearly 7,000 members from 35 countries and 60
chapters worldwide.
Fueling
Peak-Performance Teams at Claridge’s of London
Written By: Gene
Ference Ph.D.
Specialists
in Organizational Assessments and Performance Cultures
In our first article on Claridge’s, Creating
New Vision and Management Style, we addressed the challenge
of implementing a team-based, modern-service culture based on the
philosophy of continuous improvement. Ensuing analyses of comparative
survey data led to a matrix of key metrics identifying the development of
peak-performance teams throughout the property. The following article is
the second of a three-part series based upon the organizational change
addressed by the world-renowned Claridge’s Hotel.
In 1998, when Chris Cowdray became General
Manager of London’s historic Claridge’s Hotel, the property’s
organizational culture presented numerous service challenges. After an
initial executive retreat conducted by Gene Ference, team consensus
focused on how best to create a series of peak-performing departmental
teams throughout Claridge’s. Following the four phases of our Service-Culture
MapTM, team members focused on the Cycle
of Service Dynamics where they identified a three-part challenge:
The need to determine what factors were necessary to
jump-start peak-performance teams within Claridge’s.
The need to identify key drivers delineating differences in
employee survey results.
The need to develop a holistic, culturally sensitive plan
that would lead to employee commitment and organizational peak
performance.
At Claridge’s, attention to guests’ needs and
building relationships by focusing on communications and teamwork ignited
the Housekeeping Division to speedier alignment with elements of the
mission and vision statement which included: Quality of Products and
Services, Training and Career Development, and Mid-Management Practices.
In 1998, the differences in performance and employee satisfaction scores
among the key service divisions of Front Office, Housekeeping, and Food
and Beverage was within 5%. By 1999, the Housekeeping Division had
increased performance in both teamwork and communication by a consistent 6
and 7 percentage points respectively while the other two service divisions
were yielding sporadic and inconsistent results.
By 2001, the long-term effect of focusing on
improving communication and teamwork was clear. By then, both the Front
Office and Food and Beverage Divisions had improved significantly by 15
percentage points. However, Housekeeping still led the other two divisions
by 7 percentage points with an overall score of 89.4%. This placed the
Housekeeping Division in the category of Service-Culture Excellence,
making it for the first time, the internal benchmark to which others
compared themselves.
Over the course of three years, HVS/The
Ference Group focused on a concentrated grouping of survey
statements, which presented a statistically significant impact on
performance and satisfaction. When taken together, the results provided
the executive team with an effective guide to developing a management
style most appropriate for the organization. By asking questions such as: What practices do we need to modify, eliminate,
and keep? Claridge’s Executive Team was
ultimately able to achieve its goal of peak-performance in all of the high
service-impact divisions: Front Office, Food and Beverage as well as
Housekeeping.
Jump-Starting Peak-Performance:
Using statistical analysis and examining
year-to-year comparative data, we were able to shed light on what caused
the Housekeeping Division to lead in performance and satisfaction. Strong
communications and teamwork proved to be the key drivers explaining why
this division initially excelled in areas central to Claridge’s mission
and vision, turning it into Claridge’s first peak-performer service
team.
Understanding the communication-teamwork relationship is
key
to energizing culture alignment.
The
abilities, insights and observations of employees on a work team all need
to be factored into the equation. Teamwork is about understanding
roles and the effective use of collective knowledge, skills and abilities
(K/S/A’s). The survey statements for teamwork measure perceived levels
of group problem-solving, goal attainment and participative management.
Cooperative thinking and teamwork are important for providing quality
guest experiences.
For communication to be meaningful in a
service-culture, the process needs to inform managers and employees about
performance. At HVS/The Ference Group & The Center For Survey
Research, we designed communication survey statements to provide
information about how well standards and goals are known and understood by
employees. In other words, for teamwork, the survey measures how
efficiently a company, a division or a department can reach their goals.
For communications, the survey measures how effectively a company, a
division or a department can identify and implement service standards and
organizational goals most important to performance success.
Key Differences…Telling Signs:
Our approach in the Service-Culture
MapTM helps executive committee members
and departmental managers identify areas that are a source of service
opportunity for team, department or company. Significant impact statements
drive employee satisfaction and eventually lead to meeting and exceeding
guest expectations. On closer analysis of these impact statements, it was
clear that the Housekeeping Division scored better in some areas than in
those of its sister service divisions:
Executives have a good understanding of what
problems employees face in my department and are open and approachable.
My hotel is doing a good job of training
supervisors.
The Executive Committee places the right emphasis
on both the quality of service and profit.
Employees in my department receive adequate
training for their job responsibilities.
My supervisor does a good job in recognizing
performance.
When a division at Claridge’s scored lower in
these areas of the survey, it was a telling sign that the organizational
fundamentals of vision, mission and strategic goals were not understood or
used as effectively to guide performance as they were in the Housekeeping
Division.
Driving Peak-Performance Teams:
Knowing a high-performance division exists and
what factors contributed to its success is half the race. The other half
is bringing the performance of the other divisions up to the level of the
high-performance group. The data for Claridge’s shows that effective and
consistent service-performance and guest-response teams are the result of
on-going efforts in communications and teamwork. While knowledge is power,
the know how to implement the right plan for culture alignment is
five-star!
Coming up with a plan to reduce the performance
gap between the divisions was a two-part challenge embracing the needs to:
Develop the K/S/A’s of the lower scoring divisions to bring
them in line with the mission/vision at Claridge’s.
Keep the peak-performance team engaged and motivated.
Because continuous improvement is a process that
spreads from area to area and department to department, the challenge for
improving performance lies in motivating divisions to work together. Over
time, a high-performance team is neither self-sustaining nor
self-sufficient within the entire organization – all high achievers want
to know that others within the organization are “pulling their own
weight” so-to-speak. As such, and in order for the peak-performance team
to continue making performance improvements, the divisions working with it
need to reach a similar performance level.
The key to overall success is to ensure that the
developing teams
use the insights, experiences and environment of the peak-performing team
for their continuous improvement initiatives.
The communication-teamwork relationship is the highway to
culture alignment. When differences in scores on the significant impact
statements are known, the executive team is better prepared to reach
culture alignment. Our experience has documented that our Service-Culture
MapTM forms the foundation for the service-culture; the
formula is simple and powerful:
Master Plan x Data Analysis x Team Dynamics = Peak
Performance.
About Claridge's:
Claridge’s is one of four luxury hotels located
in London comprising the prestigious Savoy Group. It is owned and operated
by The Blackstone Group, a leading global investment and advisory firm,
whose core values embrace: history, goodwill, professionalism, integrity,
and relationship building.
Author's contact:
Gene Ference, Ph.D.
HVS International/The Ference Group
Riversbend
262 Lyons Plain Road
Weston, CT 06883
203.226.6000
203.221.0068 fax
gference@hvsinternational.com
www.ferencegroup.com
Six
Continents Hotels announces 20 new properties for Middle East and North
Africa
[Cairo
18 October 2002] Six
Continents Hotels, the largest hotel operator in the Middle East and North
Africa, has confirmed its involvement in the development of 20 new hotels
across the region.
This
sign of confidence in the Middle East and North Africa was heard by
British travel agents attending an annual industry conference in Cairo
this week. Six Continents was one of the principle conference sponsors and
is the largest hotel operator in the region with more than 55
InterContinental Hotels & Resorts, Crowne Plaza and Holiday Inns in
the Middle East and North Africa.
Danny Barranger, vice president, sales, Europe, Middle East
and Africa, Six Continents Hotels said: "We believe there is great
potential to attract many more British visitors to this region. Numbers of
travellers to the Middle East are, of course down this year and the Middle
East has experienced periods of uncertainty before, but the UK market has
always proved to be one of the most resilient and supportive. Two million
British people travel to the region each year on business and leisure and
we're investing in new hotels for the future and looking forward to
helping to develop travel throughout the region."
The 20 planned new Six Continents Hotels include seven in
Egypt alone, where one of the first to open will be the InterContinental
Sharm El Sheikh Resort this November, followed by the Holiday Inn Resort
Half Moon Bay in December.
Other new developments for the Middle East and North Africa
include the InterContinental Hammamet Resort, Tunisia, due to open in
Spring 2004 and the InterContinental Aqaba, Jordan, set to open in Autumn
2004.
SUMMARY OF NEW HOTEL OPENINGS
|
New
Hotels
|
Description
|
opening
|
|
2002
|
|
|
|
InterContinental Le Metropole, Alexandria, Egypt
|
With just 66 rooms including three suites, the hotel
building dates from 1902.
The property is ideally located right on the Corniche and in
the heart of Old Alexandria.
|
October 2002
|
|
InterContinental Garden Reef Resort Sharm El Sheikh, Egypt
|
With 425 guest rooms, this property will feature a 350-seat
all day dining restaurant as well as superb leisure facilities, a
children's club and shopping arcade.
There will also be a multi-purpose conference area with
meeting rooms and fully equipped business centre.
|
November 2002
|
|
InterContinental Windsor Palace, Alexandria, Egypt
|
A seafront hotel with 76 rooms and 10 luxury suites:
panoramic views of the Eastern Harbour and just 10 minutes from the
airport.
|
December 2002
|
|
Holiday Inn Resort Half Moon Bay
|
Located in the Eastern Province, this hotel
offers guests 42 rooms and 60 one and two bedroom villas, as well as
fitness and health club
|
December 2002
|
|
2003
|
|
|
|
Holiday Inn Doha, Qatar
|
A 136 room hotel
|
Summer 2003
|
|
InterContinental Heliopolis Cairo, Egypt
|
Part of the largest leisure and retail complex in the
Middle East, this multi-purpose 792-room hotel is being built on an
area of 750,000 square metres.
Included in the complex will be cinemas, food courts, a theme
park and a 24-lane bowling alley.
|
Summer 2003
|
|
Holiday Inn Heliopolis
|
This 312-room hotel is 10 minutes from Cairo
Airport and Convention and Exhibition Centre. It is an key part of the region's largest retail and
leisure complex, complete with multiplex cinema, Aqua Spa, tennis
Courts and two championship golf courses nearby
|
Winter 2003
|
|
2004
|
|
|
|
Holiday Inn Resort Taba, Egypt
|
176 rooms
|
Winter 2004
|
|
InterContinental Hammamet Resort, Tunisia
|
245 rooms
|
Spring 2004
|
|
InterContinental Taba Heights Resort, Egypt
|
500 rooms
|
Spring 2004
|
|
Holiday Inn Port Harcourt, Nigeria
|
220 rooms
|
Summer 2004
|
|
InterContinental Aqaba, Jordan
|
260 rooms
|
Autumn 2004
|
PATA
Travel Reports show September 11 impact
The Pacific Asia Travel Association (PATA) has released
PATA 2002 Half-Year Report: Arrivals to Pacific Asia Destinations and PATA
2002 Second Quarter Statistical Report. Both reports are produced by the
PATA Strategic Intelligence Centre.
The PATA 2002 Half-Year Report shows inbound and outbound
figures for January-June 2000, January-June 2001 (both pre-September 11,
2001) and January-June 2002 – a post-Sept. 11 period. By taking a
three-year comparison, the aim is to clearly show the degree to which the
Sept. 11 attacks impacted travel flows in Pacific Asia.
The study shows that in first six months of 2002 compared
to same period 2001 USA departures to Pacific Asia countries declined:
Nepal down 53.3 percent, Malaysia down 36.7 percent and the Philippines
down 17.2 percent. However, U.S. outbound to China (PRC) surged ahead 27.7
percent, Cambodia 21.6 percent and Maldives 16.4 percent.
In terms of inbound markets, China (PRC) grew by 13.8
percent, Thailand 6.4 percent, Cambodia and Myanmar by 1.2 percent.
Vietnam and China (PRC) showed growing power as outbound
markets with increases of 16 percent and 37.2 percent respectively.
PATA’s Strategic Intelligence Centre Managing Director,
Mr. John Koldowski said: "Travel patterns are set to become much more
short-haul and intra-regional with people travelling closer to home,
reducing their advance booking periods and the number of days spent
aboard."
PATA 2002 Second Quarter Statistical Report shows growth in
inbound travel to PATA member countries: Hong Kong SAR achieved a growth
rate of 13.2 percent and Macau SAR 9.7 percent. In Southeast Asia,
Cambodia recorded an increase of 5.2 percent, Thailand 4.8 percent and the
Philippines four percent. In the Pacific region, Fiji had an impressive
quarter, with growth of 14.5 percent and Tonga 11.4 percent.
The report also looked at outbound travel of selected
PATA-member countries. Fiji had the highest increase in the number of
outbound travellers, with 14.8 percent, followed by Korea (ROK) 13.7
percent, a mass market with a robust economy.
The PATA 2002 Half-Year Report is US$75 for PATA members
and US$125 for PATA chapters and non-members. The PATA 2002 Second Quarter
Statistical Report is US$200 for PATA members and US$275 for PATA chapters
and non-members.
Hotel
Directories Need To Go!
by
Rick Welch
Just
think: What if all hotel companies were to take the money being spent on
producing directories and used it on providing the franchisee with a tool
that would provide more room sales? What a wonderful world we would all
live in. Well, the time is now!
No
more wasted time and expense to only have millions of these books end up
in the garbage cans of millions of millions of people. Trees would be
saved. The frustration that the franchiser and the franchisee experience
providing the directory information would be eliminated. Storage rooms in
hotels could be returned to storage rooms again. This is were you find all
of the Hotel directories that were shipped to a hotel for that year.
New
franchisees could come online immediately and not have to wait until the
next directory is printed with their information to expect business.
Wireless
E-Commerce and Data Applications
The
Hotel Company that provides a wireless reservation system will dominate
the Industry for market share. A wireless e-commerce platform to interface
with its database and with the franchisees will also eliminate the need to
spend additional advertising money for all of those green newsprint
magazines that cost you a small fortune. Most importantly this expansion
will give the company access to new and potentially very large revenue
streams.
Participating franchisers will win the race for new market
share by creating a service that allows customers access to the Internet
by using their cell phones or PDAs. Customers will be able to check hotel
room availability, rates, and make reservations.
The
online hotel industry is evolving at an accelerating pace. The rise of the
Internet has hastened the process. Using the Internet, travelers are able
to quickly and easily research, compare, and purchase hotel rooms.
While
this offers convenience for the customer, it creates an increasingly
difficult environment for hotel franchisers to differentiate themselves
from their competitors. As a result, many customers unable to distinguish
one hotel company from another make their purchase decisions based
entirely on price. In fact, according to a study of online purchases of
airline tickets by PhoCusWright, Inc. nearly 40% based their buying
decision solely on price. I believe that the number is even higher today.
More
than ever before hotel companies need to develop innovative
customer-focused solutions that will help differentiate them from their
competition.
Using
the franchise web site, wireless Internet customers (estimated total of
M*) can chose a hotel along their route, and directly access a reservation
system. Customers select the room type, options, and rates. They reserve
the room over the wireless Internet, and pay by credit card using the
wireless device. This room rate could be controlled in “Real Time”.
You could increase the rate when you wanted to, and decrease it when
market conditions dictate.
The
consumer would identify with that hotel immediately and will get up to the
minute information on what promotions the hotels are running, what
improvements the hotel has made, and even what the “daily special”
will be that night in the restaurant. Information is what the customer
wants along with the knowledge that they are getting the best possible
rate available to them. This would eliminate the need for repeated calls
to data control to make changes in your central reservation script. You
could input all the information from the computer in your office as
frequently as needed.
This
system will have a process for real-time hotel room inventory management
that works in conjunction with the company’s database. This inventory
management system will be coupled with a lead-generation technology.
Through the franchisers experience, they know that hotels actually prefer
call-ins and walk-ins to bookings generated by the company reservation
systems, because they can exert more control over their room rates.
Software
will be developed capable of monitoring hotel occupancy levels throughout
the day, affording the hotel to have its rates automatically adjusting
according to levels of occupancy. When a motorist is searching for a
lodging at exits ahead, the Franchiser provides a list of hotels and the
lowest rates currently available. The rates quoted reflect real-time
supply/demand dynamics.
There
are some markets this does not apply. This does apply to the majority of
the hotels that have a primary market of transient customers and has to
compete with every one on the Interstate who cuts their rates to try to
increase their room sales. Over 70% of all North American hotels are
located within a mile radius of interstate exits, and are generally mid-
to low-priced *.
Wireless
connectivity also opens a new marketing strategy for those locations that
need to compete with interstate, downtown, suburban, airport and urban
locations, typically used by business travelers and groups attending
meetings. They can now merchandise their hotels. This new system would
enable them to do so when room sales are low for a specific time period.
Since
yield management and lead-time generation take place in real-time, it is
not appropriate to offer the service for the wired Internet, as the user
is not in his car at the time of use.
The
technology for the creation of this concept is available now. The speed of
transmission of this information has arrived and the company/companies
developing this space age marketing tool will WIN.
*
R. Peterson Stayonline.com
About
the author of this article:
Rick Welch is currently President of the Lakeshore Group a Professional
Hospitality Management Company that specializes in advising members of the
legal profession as it relates to Hospitality Legal matters.
He recently sold a major interest in a hotel that he was a partner in and
reorganized the accounting and management systems for a local Hotel Owner
Group.
He has written other Marketing Articles that have been published by HSMAI
and personally supervised forty limited service hotels in the East for a
partnership that was in the process to sell those hotels.
His previous positions included managing seized assets for the United
States Marshal Service, Vice President of Regional Marketing for Day's
Inns of America, Vice President and Brand manager for USFS Best Inns and
Suites.
Rick has also excelled as an Asset Manager for a package of $200,000,000.
Hospitality REO for the nations largest Real Estate Investment Trust.
Rick started his career with Sheraton Hotels as a management trainee.
Contact:
Richard J. Welch, CHA, CHME
President
The Lakeshore Group
2180 Defoors Ferry Rd.
Atlanta, GA 30318
(404) 355-87021
rjwelch11@aol.com
Regarding
Consistent Performance CEO Compensation 2002
Written
By: Keith Kefgen and Stephen Goebel
HVS
International
The
only thing tougher than getting to the top is staying there. If
consistently is a business virtue, it seems that gaming CEOs are
delivering the goods. In this year’s survey of 60 publicly traded gaming
companies, an amazing 63% of all CEOs achieved an HVS Value Index of
greater than 90 (100 is the target). With the turbulent financial climate
of the past two years, these results are getting Wall Street’s
attention. Furthermore, in the post Enron era, investors are more closely
scrutinizing company financials and executive pay practices.
Of
course, there is the other 37% to be accounted for as well, so, once again
in our year 2002 study of CEO performance we recognize both the best, and
worst of those achievements.
Consistently
Best
Our
study focuses on CEO performance by analyzing the stock and financial
performance of each company relative to the Chief Executives total
compensation. Using our proprietary pay-for-performance model, each CEO is
compared to the entire peer group. We further level the playing field by
separating the results into two groups, suppliers and operators.
This
year, for the third consecutive time, the Chief of a mid-cap gaming
operator achieved the best performance by a CEO. Craig H. Neilsen of
Ameristar Casinos, with an HVS Value Index of 186.24 joins Bernard
Goldstein of Isle of Capri, and James Perry of Argosy Gaming in this elite
group. In fact, all of the top five gaming operators operate in so-called
“secondary markets”. Perhaps, the other markets have come of age?
|
5
BEST PERFORMING CEO OPERATORS
(CEOS RANKED BY HVS VALUE INDEX)
|
|
HVS
Value
Index
|
CEO
|
Company
|
Actual
Compensation (K)
|
Should
have been Compensated (K)
|
%
Under Paid
|
|
186.24
|
NEILSEN,
Craig H.
|
Ameristar
Casinos
|
$773
|
$1,438
|
86.2%
|
|
172.62
|
LOWDEN,
Paul W.
|
Archon
Corp.
|
$836
|
$1,446
|
72.6%
|
|
164.66
|
PRATT,
Jack E.*
|
Hollywood
Casino Corp.
|
$2,185
|
$3,605
|
64.6%
|
|
160.81
|
VITALE,
Deborah A.
|
Europa
Cruise Corporation
|
$139
|
$224
|
60.8%
|
|
150.35
|
SAMPSON,
Randall D.
|
Canterbury
Park Holding Corp.
|
$170
|
$255
|
50.0%
|
|
|
|
|
|
|
|
|
*
no longer CEO
|
|
|
|
|
|
|
|
|
SOURCE:
HVS Executive Search
|
Also
among this years top operators, Jack E. Pratt of Hollywood Casino
Corporation, and Randall D. Sampson of Canterbury Park Holdings Corp. are
familiar names, repeating their appearance on last years list. Mr. Pratt
has averaged an outstanding HVS Value Index of 151.26 for the two years,
and late last year turned over his job to Ed Pratt III. Judging from
Hollywood Casino Corp.’s continued success, he left the firm in good
hands. Both Paul W. Lowden of Archon Corp. (formerly Santa Fe Gaming) and
Deborah A.Vitale of Europa Cruises deserve congratulations for making the
most of difficult situations.
Joseph
J. Lahti, making his second consecutive appearance on our list of top five
suppliers, was this year’s top supplier CEO with a Value Index of 172.16
Mr.
Lahti resigned as CEO of Shuffle Master Inc., but remains Chairman of the
Board. Perennial achiever Dr. Aelred J. Kurtenbach of Daktronics is once
again on this list of top performing suppliers, and Bernard Albanese of
Interactive Systems Worldwide makes his second appearance in as many
years. Gordon T. Graves of Multimedia Games Inc. is a story of rags to
riches. In last years study he was on our list of five worst performing
CEO’s, and this year is among our five best suppliers.
|
5
BEST CEO SUPPLIERS
(CEOS RANKED BY HVS VALUE INDEX)
|
|
HVS
Value Index
|
CEO
|
COMPANY
|
Actual
Compensation (K)
|
Should
have been Compensated (K)
|
%
Under Paid
|
|
172.16
|
LAHTI,
Joseph J.*
|
Shuffle
Master, Inc.
|
$542
|
$932
|
72.2%
|
|
163.37
|
ALBANESE,
Bernard
|
Interactive
Systems Worldwide
|
$273
|
$445
|
63.4%
|
|
159.20
|
Dr.
KURTENBACH, Aelred J.
|
Daktronics
|
$438
|
$696
|
59.2%
|
|
118.86
|
WEIL,
A. Lorne
|
Scientific
Games Corporation
|
$1,770
|
$2,183
|
23.4%
|
|
|
