, according to Smith Travel Research. The firm reported a 7.8 percent year-over-year drop in average daily rate to $100.41 and a 10 percent decline in occupancy to 52.3 percent. STR president Mark Lomanno said
the luxury segment suffered mostduring February, with ADR down 14.2 percent to $261.52 and occupancy off 16.7 percent to 58.9 percent.