Hotels Profits Soared in 2005

According to a recent report from Smith Travel Research, 2005 was very good to the U.S. hotel industry, which reached $22.6 billion in profits. In fact, it was the most profitable year the industry has ever had, including the year 2000, during which the industry scored a then-record $22.5 billion in profits. Compared to 2004 every metric grew, including average daily rate (up 5.4 percent), occupancy (up 2.9