Fourth-quarter reserved occupancy in the business transient segment at hotels in North America is down 2.3 percent from the same period last year,

according to TravelClick. TravelClick senior industry analyst John Hach said the decline in bookings could be a result of the global economic slowdown combined with financial market turbulence or seasonal factors. He added that hoteliers are driving rates regardless. Business transient average daily rate is up 4.4 percent for the fourth quarter. Group reserved occupancy is up 6.2 percent from last October, and ADR is up 2.5 percent. The October North American Hospitality Review looks at group sales commitments and individual reservations in 25 major North American markets booked by Oct. 1, 2015, for hotel stays from October 2015 to September 2016.