Hotels Perform Poorly In November

The bleak performance turned in by U.S. hotels in 2001 continued in November, according to preliminary figures released yesterday by Smith Travel Research. Overall occupancy rates were down 7 percent to 9 percent over the prior year, while room revenues declined 15 percent to 17 percent.

In October, occupancy was down 9 percent to 11 percent, while revenue per available room was down 16 percent to 18 percent.