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July sees biggest hotel rate increase, steepest occupancy drop this year

from Meetings and Conventions

Average daily rate at U.S. hotels for the month of July jumped by 3.6 percent year-over-year, according to lodging data provider STR, which ties February and June for the biggest year-over-year monthly rate increases of 2016. The growth comes in spite of a 1 percent year-over-year drop in occupancy, down to 74.4 percent, which represents the steepest such decline this year. more

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