As for any spending lost from potential tourists being displaced by the convention, Mr. Jones cites typical occupancy rates for area hotels in late August, near low points for the year.

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He claims the mall has a 20% occupancy rate measured by commercial area, although Ye declined to give specifics when challenged on that number.

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This morning, the city's building inspectors were making their rounds in the area, slapping amber limited-occupancy tickets on the windows of buildings in Zone A that have failed to meet various safety standards.

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As the euro has slipped in value against other major currencies amid the economic woes, the euro area has become attractive as a holiday destination for Asians and Americans, boosting occupancy rates and the market for hotel real estate.

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