Hotel Online Special Report AHMA’s Lodging Industry Profile Shows 1998 is the Most Profitable Year in U.S. Lodging History WASHINGTON – Sept. 29, 1999 -The American Hotel Motel Association (AHMA) released its annual Lodging Industry Profile (LIP), a statistical analysis of the lodging industry for year-end 1998.
According to the LIP, 1998 was the most profitable year ever for the lodging industry, netting $20.9 billion in pretax dollars—nearly 23 percent more than in 1997 and nearly double the amount in 1996. The LIP 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 because of declining occupancies and slowing revenue per available room (RevPar) growth, the industry continues to advance steadily. Total industry revenue rose from $62.8 billion in 1990 to $93.1 billion in 1998.
Other facts found in the 1998 LIP:
- There are 51,000 properties consisting of 3.9 million rooms.—The lodging industry supports more than seven million jobs— totaling $20.2 billion in wages.
- The tourism industry is currently the third largest retail industry, behind automotive and food stores. In 32 states, the tourism industry also ranks as the first, second, or third largest employer.
- Tourism generated $495.1 billion in sales—excluding nearly $20 billion in international travelers’ spending on U.S. air travel.
Information contained in the 1998 LIP is based on data provided by D.K. Shifflet Associates, Ltd., Smith Travel Research, the Travel Association of America, and the U.S. Department of Commerce’s Office of Tourism Industries/International Trade Administration.
For a free copy of the LIP, call the AHMA fax-on-demand service at (800) 701-7725, document No. 10, or the AHMA Information Center at (202) 289-3193. A full copy can also be found on the AHMA Web site, www.ahma.com.
AHMA, founded in 1910, is a federation of state lodging associations throughout the United States, with some 11,000 members worldwide, representing more than 1.4 million rooms. AHMA provides operations, technical, educational, marketing, and communications services plus governmental affairs representation to the lodging industry.
Contact: American Hotel Motel Association Washington Tia T. Gordon, firstname.lastname@example.org Also See: AHMA’s Lodging Industry Profile Shows 1997 As the Most Profitable Year in U.S. Lodging History / Aug 1998 The Hospitality Research Group Projects the Typical Hotel in the U.S. Will Suffer Flat Revenues and Declining Profitability in 1999 / Sept 1999