RFS Hotel Investors, Inc. 2nd Quarter Earnings Release and Conference Call

Press Release: RFS Hotel Investors
July 9, 2002
MEMPHIS, TN -- RFS Hotel Investors, Inc. (NYSE:RFS):

                 RFS HOTEL INVESTORS, INC. (NYSE:RFS)
           2nd QUARTER EARNINGS RELEASE and CONFERENCE CALL
                               Thursday
                            August 1, 2002
                         9:00 am Central Time
        Dial In: 312.470.7040 (15 min. prior to start of call)
                  Passcode: RFS, Leader - Bob Solmson
    Replay: 402.998.1007 available until September 30, 5:00 p.m. CT
         WebCast and the conference call replay is accessible
                          @ www.rfshotel.com


The earnings will be released pre-market opening on Thursday, August 1, 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 Cheryl Stewart at 901.767.7005.

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Contact: 
     RFS Hotel Investors, Memphis
     Cheryl Stewart, 901/767-7005
     www.rfshotel.com