RFS Hotel Investors, Inc. 4th Quarter Earnings Release and Conference Call

Press Release: RFS Hotel Investors, Inc.
January 3, 2002
MEMPHIS, TN -- RFS Hotel Investors, Inc. (NYSE:RFS):

                 RFS HOTEL INVESTORS, INC. (NYSE:RFS)
           4th QUARTER EARNINGS RELEASE and CONFERENCE CALL
                               Thursday
                           January 31, 2002
                        9:00 a.m. Central Time
        Dial In: 312/470-7040 (15 min. prior to start of call)
                  Passcode: RFS, Leader - Bob Solmson
      Replay: 402/220-4330 available until March 31, 5:00 p.m. CT
         WebCast and the conference call replay is accessible
                          at www.rfshotel.com

The earnings will be released pre-market opening on Thursday, January 31, with the conference call set at 9:00 a.m. Central time. For questions concerning either the earnings release or the conference call, please contact Kevin Luebbers at 901/767-7005.

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Contact: 
     RFS Hotel Investors, Inc., Memphis
     Kevin Luebbers, 901/767-7005
     www.rfshotel.com