U.S. hotel-industry profits continued to grow in 2012, according to STR Analytics' 2013 HOST Almanac, nearing the peak of 40.3 billion posted in 2007. Based on data reported by nearly 6,000 hotels, total industry revenue exceeded an estimated $162 billion. House profit was $58 billion and net operating income nearly $40 billion. But gross revenues don't tell the whole story, cautioned Carter Wilson, director of STR Analytics. "Many properties are still not back to peak profit," he noted. "Luxury and upper-upscale properties are leading the charge back to profitability, but there are still a lot of struggles in the middle- and lower-chain scale segments." Revenue growth slowed somewhat in 2012, up 5.2 percent year-over-year, compared with an 8.8 percent rise the previous year. Among additional findings, luxury hotels collected twice as much as upper-upscale properties in banquet revenue, on a per available room basis. Luxury properties also collected far more revenue than any other segment in cancellation fees.