from Forbes online (9/11):
US hotel demand declines continue into September
By KRISTEN A. LEE 09.11.08, 8:11 PM ET
"NEW YORK -
Occupancy at U.S. hotels continued to fall in the first week of September, a market research firm said Thursday, although room rates remained steady.
For the week ended Sept. 6, Smith Travel Research said occupancy at U.S. hotels dropped 7.3 percent year-over-year to 54.3 percent. The industry's average daily rate grew 1.2 percent to $100.73.
As a result, average revenue per available room at U.S. hotels fell 6.2 percent to finish the week at $54.70. Revenue per available room, or revpar, is considered a key gauge of a hospitality company's performance." ...
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