LaSalle Hotel Properties reports that its net income dropped to $12.5 million, or 30 cents a share, for the third quarter, compared with $20.2 million, or 50 cents a share, during the same period last year. Revenue per available room, meanwhile, dropped 0.1% compared with the third quarter of 2007, to $166.76, and while occupancy was up, there was a decline in the average daily room rate.

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