City Hotel Revenues Down 22 Percent

More bad news for the hospitality industry. According to analysts at Smith Travel Research, hotel occupancy rates nationwide sank to barely 50 percent during the week of Nov. 30 through Dec. 6, with daily rates and revenues also slumping in year-over-year measurements.

New York City hotels experienced one of the largest decreases in revenue among all top 25 U.S. markets, earning 22 percent less than the same time frame last year — down to $283.01 per available room, according to the latest figures.

City Hotel Revenues Down 22 Percent