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HOUSTON—According to Marcus & Millichap Real Estate Investment Services' Hospitality Research Quarterly Update, the hotel sector continued benefiting from extraordinarily constrained supply and rising demand during Q2 2012. Interestingly enough, though occupancy was reported at 61% (versus 60% during the same period of 2011) and the ADR's annual change was 4.3% above where it was a year ago, demand growth was at 2% (versus 5% year-over-year) and revenue growth stood at 6.4%, down from 8.9% from the year before.

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