Hotel CEO pay is rebounding from the worst disruptions of early in the pandemic.

That’s the result of a Hotel News Now study of quarterly earnings reports and Securities and Exchange Commission filings of the top publicly traded hotel firms by stock market value. This list is organized by the top 10 publicly traded hotel companies ranked by market value, with a list of select additional public hotel companies below.

The list purposely excludes companies whose hotel interests are interconnected with gaming interests and firms with hotel interests but whose market capitalization is predominately weighed to non-hotel interests.

Most hotel firms, if not all, have taken huge hits during the pandemic, and the market-capitalization numbers listed are those as of July 11, 2022. Currency exchange rates may also affect the rankings.

Hotel industry CEOs steadied their ships in turbulent waters and reemerged as occupancy and average daily rate have recovered. Some executives agreed to pay cuts or pay suspensions during the pandemic, and some of these reductions have not been subtracted from our listing of 2020 compensation packages.

Another factor is that total CEO pay is made up of not only base salary but also share options and other monetary rewards. This article lists CEO total compensation, the sums listed being an indication of what the CEOs are believed to be worth by their firms’ compensation committees.

Finally, different markets have different legal requirements for what information needs to be reported and how it is reported.

How do hotel CEOs compare with leaders in other industries? The Wall Street Journal reported U.S. CEO average compensation in 2021 rose to record levels for the sixth straight year, with median pay equaling $14.7 million. Notable equity awards and multiyear pay packages boosted earnings, with nine U.S. CEOs receiving compensation packages of at least $50 million.

In research conducted with MyLogIQ, the newspaper said that while average compensation for CEOs increased by 12% for “most of the executives … most companies recorded annual shareholder returns of nearly 30%.”

Editor's Note: All company market capitalization numbers are as of market close on July 11, 2022.

Market capitalization: $45.1 billion

Latest in-house salary information: May 6, 2022

In his role as CEO at Marriott International, Tony Capuano received an annual base salary for 2021 of $1.3 million. He was eligible for a cash award under the company’s 2021 annual cash incentive program with a target award of 200% of base salary and received 2021 equity awards under the Marriott International stock and cash incentive plan with a grant date target value of $9 million.

In her role as president, Stephanie Linnartz received an annual base salary for 2021 of $1 million. She was eligible for a cash award under the company’s 2021 annual cash incentive program with a target award of 100% of base salary and received 2021 equity awards under the stock plan with a grant date target value of $6.5 million.

In 2019, former president and CEO, Arne Sorenson’s salary and rewards equaled $13.4 million.

Market capitalization: $31.1 billion

Latest in-house salary information: May 20, 2022

Hilton CEO Chris Nassetta had a base salary of $1.3 million in 2021, the same as it was in 2020, though Nassetta chose to forgo his base salary at the outset of the pandemic from April 2020 through the end of the year. Nassetta's total compensation in 2021 was $23.3 million, but in 2020, his total compensation was $55.9 million, thanks to $49.5 million in stock awards, among other compensation.

A Hilton spokesperson quoted by The New York Times said “because [Hilton] restructured several stock awards, [Nassetta] did not take home $55.9 million in 2020. [His] actual pay was closer to $20.1 million.”

In 2021, the actual amount Nassetta earned via his annual cash incentive program equaled $3.4 million and his long-term incentive award equaled $18.27 million.

Market capitalization: $11.4 billion

Latest in-house salary information: April 6, 2022

In 2021, Host Hotels & Resorts CEO James Risoleo’s base salary was $1 million, and his total compensation was $11.5 million. In 2020, Risoleo's base salary was $1 million, and his total compensation was $10.1 million, with less non-equity incentive plan compensation ($640,000) than in 2021 ($2.9 million), but Risoleo received a $560,000 bonus in 2020.

Market capitalization: $10 billion

Latest in-house salary information: December 31, 2021

In 2021, IHG Hotels & Resorts CEO Keith Barr earned a base salary of 857,000 pounds sterling ($1.04 million), and his total compensation for the year was 3.18 million pounds sterling ($3.8 million).

In 2020, Barr's base salary was 712,000 pounds sterling, and his total compensation was 1.48 million pounds sterling.

IHG’s latest remuneration report added that from April 1, 2022, Barr’s base salary for the year 2022 is budgeted to be 897,900 pounds sterling.

On May 17, 2022, Barr was granted a further 64,903 shares, which at press time were worth $54.92 per share, for a total value of $3.56 million. In 2021, Barr held 81,330 IHG shares.

Market capitalization: $12.1 billion

Latest in-house salary information: April 17, 2022

The firm’s former CEO and chair, Ji Qi, who founded Huazhu Hotels, “[stepped] down as CEO of the company for personal reasons, effective October 1, 2021,” with Hui Jin taking charge on the very same day, according to stock exchange filings.

Huazhu did not report Jin’s salary and compensation in its latest earnings filing.

Huazhu filings stated Qi earned 400,000 shares at $1.53/share for a total of $612,000, These shares were granted and expired on the same day, Oct. 1, 2019, but the same document stated as of March 31, 2021, he owned his shares in a complex arrangement. The copy said his compensation “includes 72,065,369 ordinary shares held by Winner Crown Holdings Ltd. or Winner Crown, a British Virgin Islands company wholly owned by Sherman Holdings Ltd., a Bahamas company, which is in turn wholly owned by Credit Suisse Trust Ltd., or CS Trustee.

“CS Trustee acts as trustee of the Ji Family Trust, of which Qi Ji and his family members are the beneficiaries, 1,059,317 ordinary shares held by Mr. Qi Ji, and (16,000,000 restricted [American depositary shares] representing 16 [million] ordinary shares, and 10,224,652 ordinary shares held by East Leader, over which Ji has voting power pursuant to a power of attorney dated November 27, 2014. East Leader is wholly owned by Perfect Will Holdings Ltd., or Perfect Will, a British Virgin Islands company, which is in turn wholly owned by Asia Square Holdings Ltd., or Asia Square, as nominee for J. Safra Sarasin Trust Co. (Singapore) Ltd., or Sarasin Trust.”

Market capitalization: $8.2 billion

Latest in-house salary information: April 7, 2022

In 2021, Hyatt Hotels Corp. CEO Mark Hoplamazian earned a base salary of $1.29 million, a 2% rise from the previous year and has incentive schemes in place that could see him earn an additional 175% to 350% of that salary. Though his 2021 total compensation is not specified, his possible max compensation for the year with incentives was equal to $9.5 million.

Market capitalization: 7 billion euros ($7.04 billion)

Latest in-house salary information: February 23, 2022

For 2022, Accor CEO Sébastien Bazin’s gross annual fixed compensation is 950,000 euros ($990,099), a base salary that has not increased since 2016. Also, in 2022, Accor’s remuneration committee stated that under its compensation plan for Bazin, he could be paid benefits for up to 24 months that would be capped at 411,360 euros based on the applicable rate for the year.

Bazin’s annual variable compensation is between 0% and 150% of a reference amount of 1.25 million euros, corresponding to between 0% and 197% of his annual fixed compensation. These, too, are rates unchanged for some years, in this case all the way back to when Bazin was appointed as CEO in August 2013.

In Accor’s latest statement on stock ownership, Bazin holds 295,734 shares, which at current share value is worth approximately 8.3 million euros.

Market capitalization of parent company, Pan Pacific International Holdings Corp: 1.29 trillion Japanese yen ($9.2 billion)

Latest in-house salary information: December 31, 2021

No information on remuneration can be found. The latest corporate governance report published by Pan Pacific’s parent company UOL Group stated, “total remuneration paid to the top five key management personnel [this includes CEO Choe Peng Sum] set out above amounted to $3,240,000 for [full year] 2021.”

Market capitalization: $6.2 billion

Latest in-house salary information: April 25, 2022

Choice Hotels International CEO Pat Pacious’ 2021 base salary was $1.07 million, and his total compensation was $11.2 million. In 2020, Pacious' base salary was $953,077, and his total compensation was $11.1 million.

In 2020, the firm enacted a “2020 COVID-19 Reduction” in which Pacious agreed to a salary decline of 20% of his 2020 base salary for the period April 30, 2020, through December 31, 2020. In 2020, he did receive a $1.5 million bonus referred to as a "COVID-Response Performance Award."

Market capitalization: $6 billion

Latest in-house salary information: March 30, 2022

Wyndham Hotels & Resorts CEO Geoff Ballotti's 2021 base salary was $1.03 million, with stock awards amounting to $13 million, option awards amounting to $1.6 million, non-equity incentive plan compensation of $2.3 million and other compensation of $262,000 adds up to a total compensation package for the year of approximately $18 million.

Currently, Ballotti holds 759,571 shares, which at press time amounted to a value of approximately $51.2 million.

Below is a select list of other notable public hotel companies with their current market capitalizations and CEO compensation information:

Market capitalization: 5 billion euros ($5.02 billion)

Latest in-house salary information: April 21, 2022

CEO Christophe Kullmann has a base salary of 700,000 euros ($748,000) and the ability to earn a bonus of 128%, 700,000 euros payable in cash and 198,000 euros paid in Covivio shares, which will be vested in 2025 subject to continued employment.

As of December 2021, Kullmann holds 146,212 shares in Covivio, which at press time have a value of 7.6 million euros.

Market capitalization: 5.1 billion pounds sterling ($6.1 billion)

Latest in-house salary information: May 1, 2022

CEO Alison Brittain’s 2021 salary was 895 pounds sterling ($1.1 million), but Whitbread approved a salary increase to 921,000 pounds sterling beginning May 1, 2022.

Brittain also is eligible to earn 125% of her salary in a restricted share plan due to mature in 2025, with the overall remuneration for the CEO in 2022/2023 potential ranging between 1.07 million pounds sterling and 5.47 million pounds sterling.

In Whitbread’s latest statement on stock ownership, Brittain holds 132,861 shares, which at current share value is worth approximately 3.3 million pounds sterling.

Market capitalization: $3.2 billion

Latest in-house salary information: March 16, 2022

CEO Thomas Baltimore's base salary in 2021 was $1 million, which has stayed the same since 2019, except in 2020, when Baltimore waived his base salary beginning in April 2020 until the end of the year, excluding the minimum amount of salary required by law, a sum of $431,504.

He is entitled to bonuses ranging between 87.5% and 350% of his base salary. If he successfully meets his agreed target, he will receive a bonus of 175% of base salary. In 2021, Baltimore's bonus was approximately $2.1 million for reaching 121% of that year’s agreed target.

Other parts of his overall 2021 compensation included approximately $6.3 million in share awards and approximately $2 million in non-equity awards for a total package of approximately $9.4 million.

Market capitalization: 349 billion Indian rupees ($4.4 billion)

Latest in-house salary information: March 22, 2022

For the fiscal year ending March 31, 2021, CEO Puneet Chhatwal received a salary of 7.23 crore, or 72.3 million Indian rupees ($914.7 million). The previous fiscal year, Chhatwal received a salary of 8.49 crore, or 84.9 million Indian rupees ($1.07 million).

Market capitalization: $3.4 billion

Latest in-house salary information: May 13, 2022

In 2021, CEO Justin Knight earned a base salary of $557,500. In addition, his 2021 incentive-plan bonus and other compensation for 2021 produced a total compensation of approximately $7.8 million.

Market capitalization: $2.2 billion

Latest in-house salary information: March 31, 2022

In 2021, CEO Jon Bortz was awarded an aggregate cash bonus of $1,805,625. His total compensation in 2021 was $11.3 million.

In 2020, he received no salary in the second, third and fourth quarters of the year. That year, his pro rata base salary was $187,500 and his total compensation was $4.4 million.

Market capitalization: $2 billion

Latest in-house salary information: March 17, 2022

John Arabia, the former CEO who departed on September 2, 2021, had a base salary in 2020 of $826,200, a 3.6% decrease from his 2020 salary of $857,000. His 2021 salary also was awarded on a pro-rata basis for the months of that year in which he served.

Executive Vice President and Chief Financial Officer Bryan Giglia was promoted to the CEO role on March 7, 2022. Giglia was awarded a salary of $600,000, which for 2022 is on a pro-rata basis. He was also awarded a target annual bonus equal to 135% of base salary, a one-time award of 62,668 shares of time-based, restricted common stock and a performance-based restricted stock unit award covering 94,002 shares.

Market capitalization: 642.6 million pounds sterling ($764 million)

Latest in-house salary information: March 1, 2022

CEO Boris Ivesha earned a base salary in 2021 of 438,132 pounds sterling ($522,221) and a total compensation package of 554,484 pounds sterling ($661,103). He holds 4,636,974 shares in the firm, which constitutes 10.9% of the issued share capital.

Market capitalization: $1.7 billion

Latest in-house salary information: April 5, 2022

In 2021, CEO Marcel Verbaas earned a base salary of $900,000, which together with stock awards, a non-equity incentive-plan compensation and other compensation equaled a total compensation package of approximately $6.9 million.

Editor’s note: Chris Nassetta serves on Hotel News Now’s parent company CoStar Group’s board of directors.

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