Updated from 4:01 p.m. ET
Hotel and lodging companies' shares were mixed on Friday after a market research firm reported that hotel demand has remained very weak during January.Smith Travel Research, which tracks hotel industry data, reported Friday that U.S. hotels posted double-digit declines in occupancy and revenue per available room, or revpar, during the week ended Jan. 17. Revpar is a key gauge of a hotelier's performance. Year over year, the industry's occupancy dropped 12.9% and the average daily rate fell 4% to $101.96. The demand and rate declines drove industry revenue per available room down to $49.22, a 16.4% drop from last January. Friedman Billings Ramsey analyst C. Patrick Scholes noted that the revpar declines were driven by a sharp decrease in occupancy, as both consumers and businesses continue to put off their travel plans. The luxury segment posted the steepest declines as consumers continued to favor lower-priced properties. Occupancy at luxury hotels dropped 16.7%, driving revpar down by 22.4%. The luxury segment's average daily rate fell 6.8% to $260.43. "It was more of the same," said STR Vice President Brad Garner in a statement. "The economy is battering the hotel industry." Scholes noted that highway hotels performed better than resorts and hotels in urban, suburban and airport locations. Highway hotels' revpar fell 8.9%, compared with double-digit declines at resorts and other locations. Bucking the downward trend, hotel revpar for Washington, D.C., jumped 20%, boosted by the presidential inauguration. Garner, however, expected more of a regional surge.