The award is presented each year to the board of directors that is most effective in leading a public lodging company. Using a corporate governance model designed by Kefgen, HVS Executive Search tabulates rankings that compare board makeup, independence, committee structure, conflicts of interest, and a commitment to pay-for-performance.

"The responsibility of running a public company in today's business environment is tremendous," said Mr. Kefgen. "With new regulations, strong and effective corporate governance is more critical than ever. Starwood's second win of this prestigious award is a truly impressive accomplishment."

"On behalf of my fellow board members, I thank HVS for this wonderful distinction," said Mr. Duncan. "It continues to be our honor to serve Starwood's shareholders and the 145,000 associates worldwide who provide memorable experiences to our guests across the globe each and every day. Starwood has always been a dynamic company, and today we are clearly established as the leading innovator in the industry with great brands that resonate not only with consumers, but also with the development community who are partnering with us to expand our global footprint at a record-breaking pace."