by By Michael J. Shapiro | September 30, 2009

Although demand is showing signs of stabilization, according to Smith Travel Research, the company's data shows U.S. hotels experienced further declines in August. Occupancy fell 9.9 percent over last August, to 60.7 percent for the month. Average daily rate dipped just a bit more than 10 percent, to $96.58, and revenue per available room dropped 19 percent, to $58.65. All of the top 25 markets experienced decreased performance over last year.