Five U.S. markets feeling the pain | By Bobby Bowers | hotelnewsnow.com

The dramatic decline in U.S. lodging industry performance, which began in late summer 2008, has affected almost all industry segments and markets. Five major markets—Phoenix, Arizona; New York; Detroit, Michigan; Atlanta, Georgia; and Miami, Florida—have experienced particularly sharp revenue-per-available-room declines based on Smith Travel Research’s latest three-month numbers ending February 2009. Phoenix has endured the most pain, with occupancy declining 16.8 percent, and average rate sliding 14.2 percent. This combination pushed RevPAR down almost 29 percent. The market’s woes are exacerbated by significant supply growth—up 4.9 percent in the latest 12 months—and a large number of rooms in the construction pipeline.