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ILX CEO Martori Ranks No. 2 Best Performing CEO in 2002 HVS Hotel Industry Survey |
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Model Weighs EBITDA Growth, Market Capitalization, & Stock Appreciation |
PHOENIX--(BUSINESS WIRE)--Jan. 7, 2003--CEO Joseph P. Martori of ILX Resorts Incorporated (AMEX: ILX) took the number two slot in HVS International's 2002 Survey of the Top Performing CEOs.
The survey model is based on three primary criteria: EBITDA growth, market capitalization, and stock appreciation as compared to total compensation.
Martori's number two ranking in the Best Performing CEOs beat out tough competition including the CEOs of Four Seasons, Marriott International, Starwood, Carnival, Wyndham International, Hilton, Loews and Disney, to name a few.
Co-writers Keith Kefgen and Christopher Mumford summed up the survey by praising Martori and the other top performers for "consistency" and "creating value for shareholders" in spite of the onset of a recession followed by the dramatic impact of 9/11 on industry statistics.
When further comparing compensation versus performance, Martori was one of the lowest paid CEOs in the Hotel Industry, ranking far down the list at number 45 in the survey that ranked the top 51 performers.
ILX board of directors recently declared the first cash dividend in the company's history, commencing with the quarter ending March 31, 2003, as detailed in a press release dated December 19, 2002.
For the third quarter 2002, ILX Resorts reported revenues of $15.2 million, the highest for any third quarter in the company's history and 23.6% greater than the same period in 2001. Revenue from the sale of vacation ownership interests increased by 30% and net income for the third quarter 2002 of $633,903 reflected an increase of 22% more than the same period of the prior year.
HVS Executive Search is the leading executive search and human resource consulting firm specializing in the lodging, gaming, and restaurant industries.
ILX Resorts acquires, develops, and operates premier timeshare resorts in the western United States that provide its owners with extraordinary vacation experiences.
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