NEW YORK (Reuters) - Starwood Hotels & Resorts Worldwide Inc <HOT.N> is raising the annual amount of stock and options that it gives board members who do not work for the company by 25 percent.
Those directors will get $125,000 in stock and stock options, Starwood said in a regulatory filing on Wednesday. Starwood, which operates the W and Sheraton hotel chains, previously gave them $100,000 in stock and options a year.
The amount will be split evenly between stock units and options.
Starwood's board has 11 people, nine of whom do not work for the company. They include Procter & Gamble <PG.N> Chief Financial Officer Clayton Daley.
Starwood said its compensation and option committee approved the increase on February 26.
The committee also approved an increase in the annual cash fee for directors who chair board committees. The raise excludes the audit committee. Committee chiefs will get $12,500 in cash, up from $10,000 earlier.
Starwood's share price have quadrupled since its lows in March 2009 last year as signs of an economic recovery have spurred optimism for the hotel industry.
The company, the No. 8 hotel operator in the world, saw its shares outperform the Dow Jones U.S. Hotels index <.DJUSLG> as well as its rival Marriott International <MAR.N> in that time.
(Reporting by Deepa Seetharaman. Editing by Robert MacMillan)