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AH&LA Releases 2003 Lodging Industry Profile - Revenue Growth Expected, Travel and Tourism Remains Leading Industry and Employer

Washington, As predicted by industry experts, a continuous weak economy affected the U.S. lodging industry following 10 years of record-breaking performance. This is reflected in the American Hotel & Lodging Association's (AH&LA) recently released 2003 Lodging Industry Profile (LIP), a statistical analysis of the lodging industry for year-end 2002.

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According to the LIP, the lodging industry's overall profitability declined in 2002, by grossing $102.6 billion in total sales and $14.2 billion in pretax profits — compared to $103.5 billion and $16.1 billion in 2001, respectively. However, the profile's other facts — promotional spending, employment impact, average occupancy rate, and average room rate — illustrate the hotel business' steady and impending growth.

"We are confident that the overall loss of revenue to our industry will subside in the coming months — with an expected increase by mid-2004, which is suggested by industry experts. However, this past year's performance has been a difficult pill for most hoteliers to swallow. Nevertheless, as Americans' travel confidence increase, the hotel industry should reap some of the monetary benefits," said AH&LA President and CEO Joseph A. McInerney, CHA.

Information contained in the LIP is based on data provided by the American Economics Group, Inc.; D.K. Shifflet & Associates, Ltd.; Smith Travel Research; the Travel Industry Association of America; and the U.S. Department of Commerce, International Trade Administration, Office of Travel and Tourism Industries.

AH&LA is a 93 year-old federation of state lodging associations throughout the United States with some 11,000 property members worldwide, representing more than 1.5 million guest rooms. AH&LA provides its members with assistance in operations, education, and communications, and lobbies on Capitol Hill to provide a business climate in which the industry can continue to prosper. Individual state associations provide representation at the state level and offer many additional cost-saving benefits.

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The American Hotel & Lodging Association (AHLA) is the largest hotel association in America, representing more than 30,000 members from all segments of the industry nationwide – including iconic global brands, 80 percent of all franchised hotels and the 16 largest hotel companies in the U.S. Headquartered in Washington, D.C., AHLA focuses on strategic advocacy, communications support, and workforce development programs to move the industry...