Hotel Occupancies Down In 2001, Upper Upscale Most Affected

Preliminary figures released by lodging industry experts Smith Travel Research in Hendersonville, Tenn., indicate that 2001 U.S. hotel occupancy will be 60.2 percent, down from 63.7 percent in 2000. Smith Travel, meanwhile, projected that room revenues for the year should decline about 7 percent. As monthly data suggested for most of the year, declines were steepest at the upper upscale level of the industry. Smith Travel is scheduled to release final 2001 industry results late next week.