In a battle between the division's two bottom sides, the visitors came out on top at Loftus Road in a 3-1 win which leaves their hosts with just four points from 12 games.
The fixture was reported as a sack-race between Hughes and Southampton counterpart Nigel Adkins and the pressure is now largely on the former's shoulders.
Asked if he has any concerns about his position as manager, Hughes dodged the direct issue by telling Sky Sports: "When you perform like today in a key match, then you are disappointed.
"You are disappointed as manager of the team and disappointed for the players, because they are much better than they showed today.
"But we pick ourselves up and we have to go again, because we owe the fans."
Goals from Rickie Lambert, Jason Puncheon and an Anton Ferdinand own goal did the damage to QPR, with Junior Hoilett having only provided some hope at 2-1.
And questioned if his team deserved anything from Saturday's game, Hughes said: "No, absolutely not. The performance today was nowhere near the level we expected.
"It was a key game and unfortunately we did not perform. I include myself in that, because, at the end of the day, I pick the team."