In marketing, the contrast ratios that are advertised are the optimum ratios as displayed in a totally dark room. In an ideal room, all the light being reflected by your HDTV would be absorbed, with the displayed image being the only visible light in the room. In such a scenario, the contrast ratio of the image would be the same as the contrast ratio of the display device. In a so-called "Real Room" however, some light is reflected back onto the screen, effectively lowering the contrast ratio of the displayed image.
Understand also that the difference between Static Contrast Ratio and Dynamic Contrast Ratio. The ratio of measurement of the brightest and the darkest colors that are capable of being produced simultaneously at any instant of time by the system is called static contrast ratio. The same ratio, with measurements taken over a sample of time is called dynamic contrast ratio. It is common for HDTV manufacturers to only disclose the dynamic ratio, when it is higher than the static ratio. This is why it's important to not only do your homework, but also to view the TV in a bright room using standard input (as opposed to blu-ray, for example) before buying.