Occupancy at U.S. extended-stay hotels decreased 0.2 percent year over year to 80.3 percent during the third quarter,

according to extended-stay research firm The Highland Group. January-through-August occupancy was 78 percent, the highest in 15 years. Average daily rate in the quarter across all segments increased 7.8 percent to $96.16, most of the growth occurring in the economy (8.4 percent) and midprice (9 percent) segments. At 6 percent, third-quarter supply growth has overtaken demand growth, 5.8 percent, and that is beginning to erode gains in revenue per available room. The fastest supply increase has come in the upscale segment, which saw available room nights grow 8.6 percent to 14.5 million.