4 Jan 2011

Travel and Leisure Sector Report

• 7 Companies recorded a negative TSR figure over both 1 and 3 years. • Only 2 Companies recorded Upper Quartile TSR results for both 1 and 3 years. • Domino’s came out last at -£225,657 in the Meis Pay Indicator Model, although they were one of the 2 companies to achieve Upper Quartile TSR performance over 1 and 3 years. • Upper Quartile TSR performance over the 3 year period was actually a negative figure, at -15.95%. • Max bonus median for the FTSE 100 was 150%. • CEO base pay is grouped closer, with 33% of CEO’s receiving between £500,000 and £600,000, than the FD’s who peak with 18% receiving between £200,000 and £250,000. • Restricted Share Schemes are the most common type of share plan for the sector. Interestingly, 42% of these schemes use Comparative TSR as the main performance condition. This would suggest that the majority of schemes would provide no vesting. • HNBS advise most companies in this sector (43%), followed by None/Not Disclosed (14%).