Michels doubles salary package in just one year

Hilton Group chief executive David Michels pocketed £774,000 as his annual salary package last year - almost double his 1999 earnings of £412,000 - making him the company's highest-paid director for the second year running.

The figures, contained in the Hilton Group's annual report, also cleared up speculation surrounding the payoff of former Hilton Group chief executive Peter George on his retirement last August.

The payoff had been estimated at up to £3m (Caterer, 7 December 2000, page 4), but the annual report recorded that George was given a rather smaller cash sweetener of almost £1.4m to compensate for his "loss of office".

In addition, the company is continuing to pay George's healthcare and personal accident cover until May 2002.

Michels earned a basic salary of £473,000, which was bolstered by performance pay of £174,000, plus other benefits of £128,000; while Hilton International chief executive and group board member Anthony Harris earned a total of £385,000, which included his basic salary of £233,000.