WASHINGTON, DC— The American Hotel & Lodging Associations (AH&LA) recently released 2002 Lodging Industry Profile (LIP), a statistical analysis of the lodging industry for year-end 2001 and the news, as expected, was gloomy. According to the LIP, the lodging industrys overall profitability declined in 2001, by grossing $103.6 billion in total sales and $16.1 billion in pretax profits — compared to 2000s $108.5 billion and $24.0 billion, respectively. However, the LIPs other facts— promotional spending, employment impact, average occupancy rate, and average room rate— illustrate the hotel business steady and forthcoming growth, said AH&LA. 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.
