• Full year 2002 U.S. industry profits were $14.2 billion, a 12 percent decline from $16.2 billion in 2001. 
• Revenue per available room (RevPAR) decreased 2.4 percent in 2002 to $49.54, due primarily to a 1.5 percent average room rate decline.

Said Mark Lomanno, President of STR; �Total 2002 industry revenue of $102.6 billion was only 0.9 percent below the 2001 figure.  Over 930 million rooms were sold last year, indicating the public is still traveling for both business and pleasure.  In selected markets, 2002 performance improved over 2001.  We will monitor the industry closely to report on the expected turn-around in 2004.�

The HOST Study is a publication of Smith Travel Research (STR), and is based on data assembled and compiled solely by STR. The current edition, reporting on results for the most recent calendar year, contains comprehensive data on departmental revenues and departmental expenses for nearly 3,800 hotels.

Smith Travel Research is the recognized leader for US Lodging Industry benchmarking.  For over 18 years, STR has collected monthly and daily operating data and reported on the state of the U.S. lodging industry, maintaining one of the world�s largest lodging industry databases and publishing an array of valued industry research.