The last time occupancy rate were in the 50s was in 1989, when it stood at 56.5%.
''Some of the drop can be attributed to a slowing economy prior to Sept. 11, but I would say 90% of it is due to the terrorist attacks,'' Montgomery tells GlobeSt.com. He plans to release a more precise and detailed report later this year.
He anticipates that the year-to-date figures for the first nine months will be down roughly 10% or so because of the September fallout.
While occupancies dropped by 25% to 30%, he says local hotels report they're starting to see a return of individual corporate travelers.
However, large hotels that cater to groups and associations, are the hardest hit -- both in Denver and across the country, he says.
''I was talking to people in northern California today, and they told me quite a few of the hotels have seen their occupancies drop to 30%,'' Montgomery tells GlobeSt.com. ''While a few individual hotels may have been hit that hard, we're not seeing those kind of low occupancies, except maybe in a few cases."
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