by By Michael J. Shapiro | October 28, 2009

U.S. hotel performance results from Smith Travel Research were in line with the company's forecast and showed further evidence that the lodging industry is not experiencing an early recovery. Occupancy fell 6.3 percent over the previous year, to end the month at 56.7 percent. Average daily rate dropped 10.2 percent, to $96.67, and revenue per available room posted a 15.9 percent decrease, to $54.78. "While demand has begun to stabilize in the important Middle and South Atlantic regions," stated STR president Mark Lomanno in a release, "average room rates continue to be a drag on revenue generation. We will be very closely watching fourth-quarter results, anticipating incremental improvement in key indicators, even though we fully expect most results to still be negative."