WASHINGTON, D.C. According to the just-released American Hotel & Motel Association Lodging Industry Profile (LIP), 1999 was the most profitable year ever for the lodging industry, netting $22 billion in pretax profits nearly double the amount in 1996.
The LIP is a statistical analysis of the lodging industry and lists the industry s total revenue, employment impact, average occupancy rate, average room rate, and other resourceful facts about the lodging and travel and tourism industries.
After suffering losses a decade ago due to declining occupancies and slowing RevPAR growth, the industry continues to advance steadily. Total industry revenue rose from $62.8 billion in 1990 to $99.7 billion in 1999. (9/18/00) –Shannon McMullen
