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by Michael J. Shapiro | March 31, 2010

According to data released last week by Smith Travel Research, U.S. hotel occupancy was up slightly for February, by 0.9 percent, when compared to the previous year. Average daily rate, however, dipped a bit, and was down 4.5 percent. Revenue per available room decreased by 3.6 percent, to $51.09. STR president Mark Lomanno called the results "encouraging," saying that room rates have nearly stabilized. "However," he said in a statement, "there is much work to be done before we can say the industry has actually begun to rebound."