Occupancy Rates Down In First Full Month Since Sept. 11

Preliminary lodging industry data for October, released today Smith Travel Research, showed U.S. occupancy rates declined 9 percent to 11 percent over the prior year, while room revenues dropped 16 percent to 18 percent.

October was the first full month to reflect the impact of the Sept. 11 terrorist attacks. Industry analysts and hotel sales executives have said that both occupancy rates and room revenues have shown improvement in recent weeks.