Numbers from Smith Travel Research, the leading hotel research company, show just how tough times have become for all hotels. For the week of Jan. 11 to 17, the average revenue per available room - the standard measure of hotel performance - fell 16.4 percent over the comparable week in January 2008 in hotels in the United States. Average occupancy fell 12.9 percent, and average daily room rates declined 4 percent.

The figures for luxury hotels were even bleaker. Occupancy rates fell 24.4 percent in the week that ended Jan. 10 compared with the first week of January 2008, Smith Travel Research found. Average daily rates fell 8.9 percent.

Many of the same forces now hitting the bottom lines of luxury hotels have affected other segments of the luxury market - from top-end department stores to private jets - as the rich feel the pain of the stock market collapse and cut back on spending. Luxury hotels are heavily dependent on high-end business travel, corporate meetings and international visitors - all of which have fallen.

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