US Lodging Pre-Tax Profits $26.6 Billion in 2006
AH&LA Releases 2007 Lodging Industry Profile
NOVEMBER 8, 2007. The U.S. lodging industry recorded its best year ever in 2006, posting pretax profits of $26.6 billion, up from $22.6 billion in 2005, based on the American Hotel & Lodging Association (AH&LA) Lodging Industry Profile (LIP), a statistical analysis of the lodging industry for year-end 2006.
The lodging industry's overall profitability grossed $133.4 billion in total sales-compared to $122.7 billion in 2005. This increase is attributed to a variety of sources, including the industry's ability to raise room rates due to an increase in demand from both leisure and business travelers. The LIP's other indicators - promotional spending, average occupancy rate, and revenue per available room - also point to strong lodging industry performance in the future.
Other facts found in the LIP:
o There are 47,135 properties consisting of nearly 4.4 million guestrooms.
o The lodging industry directly supports more than 7.5 million jobs.
o The tourism industry is currently the third largest retail industry, behind automotive and food stores. In 30 states, tourism ranks as the first, second, or third largest employer.
o Tourism generated $700 billion in domestic sales.
The LIP provides a quick list of significant facts about the lodging, travel, and tourism industries, including employment impact, international travel statistics, and property and room breakdowns by location, rate, and size. The complete 2007 AH&LA Lodging Industry Profile is available on the News & Information Center homepage of AH&LA's Website, www.ahla.com. Figures for year-end 2007 will be available in fall 2008.
Information contained in the LIP is based on data provided by 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.
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