Starwood 2012 Annual Report Download - page 52

STARWOOD HOTELS & RESORTS WORLDWIDE, INC.-2013Proxy Statement46
EXECUTIVE COMPENSATION
Mr. Rivera’s accomplishments for the 2012 performance year included the following:
• Successfully opened the St. Regis Bal Harbour resort on schedule
with strong recognition. Generated signifi cant cash from the
sale of 188 residential units at the St. Regis Bal Harbour and
executed new purchase contracts, both in excess of target;
• Successfully implemented the new organization structure for The
Americas to ensure Starwood is best-placed to take advantage
of accelerating travel trends within The Americas;
• Increased earnings for both The Americas and vacation
ownership and residential business segments by 4.7% and
83.5%, respectively; and
• Successfully opened 23 hotels in North America, resulting in the
addition of 4,300 new rooms and achieved strong performance
for SPG program enrollment and SPG occupancy.
Mr. Siegel’s accomplishments for the 2012 performance year included the following:
• Delivered critical legal support to facilitate the negotiation and
execution of: 131 hotel management and franchise transactions;
56 re-engagements of existing hotels and changes in ownership;
and strategic hotel sales. Redesigned the Company’s franchise
agreements to support further expansion;
• Accelerated progress against Starwood’s long-term global
citizenship goals, including substantial reductions in the use
of water and energy across our hotels and corporate offi ces.
Successfully restructured the global citizenship function to
better align with the Company’s objectives and implemented
target foundational initiatives, including property-specifi c audit
process and goal setting;
• Successfully executed a number of strategic initiatives to ensure
the Company maintains best-in-class compliance and privacy
standards, including roll-out of an enhanced anti-corruption
compliance function, confi dentiality training program to safeguard
the Company’s trade secrets and intellectual property, and global
safe harbor privacy initiative; and
• Successfully concluded critical union negotiations and strategically
re-focused the Company’s governmental relations program to
advance certain of the Company’s key initiatives.
Mr. Turner’s accomplishments for the 2012 performance year included the following:
• Successfully managed the global development team to execute
agreements for 131 new managed and franchise hotels, which
exceeds 2011 growth levels by 17%. Executed 56 deals in
excess of targets for renewals and changes in control of existing
hotels, which provides for the critical continuation of these hotels
in the Starwood portfolio;
• Maximized global net room growth at 4.2%, surpassing fi ve year
average net room growth at 3.4%. Delivered on Aloft conversion
strategy with successful conversion and opening of Aloft San
Francisco and near completed conversion of Aloft Tucson;
• Developed strategic initiatives and enhancements in technology
and other process innovations for global development team to
deliver on strategic growth plan and re-position team in key
growth markets; and
• Completed strategic asset sale transactions generating gross
cash proceeds of over $540 million.
Mr. Avril’s accomplishments for the 2012 performance year included the following:
• Achieved market share increases across 6 of Starwood’s 9
company brands, including a 9% increase in Element and a
5% increase in Aloft;
• Strengthened key relationships with hotel owners, joint venture
partners and our Company’s personnel to drive revenue, strong
owner relations, and retention of management talent throughout
our hotels;
• Successfully drove share of SPG occupancy to greater than 50%
and delivered on Starwood’s innovation agenda by implementing
industry-leading transformation of benefi ts of the SPG program;
and
•Adjusted for asset sales, grew hotel group EBITDA by 7%.