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CoStar: Thanksgiving boosts YOY hotel performance in week ending Nov. 23

Seattle led the top 25 markets with a 62.9 percent YOY occupancy gain, reaching 76.7 percent

CoStar: Thanksgiving boosts YOY hotel performance in week ending Nov. 23

THE THANKSGIVING CALENDAR shift boosted year-over-year performance comparisons for the U.S. hotel industry during the third week of November, according to CoStar. However, occupancy, RevPAR and ADR all declined from the prior week.

Seattle led performance gains among the top 25 markets.


Occupancy declined to 59.7 percent for the week ending Nov. 23, down from 63.3 percent the previous week but up 20.7 percent year-over-year. ADR fell to $150.49 from $154.96, marking an 8.6 percent year-over-year increase. RevPAR reached $89.80, down from $98.11 the prior week but up 31.1 percent compared to the same period in 2023.

Among the top 25 markets, Seattle posted the highest year-over-year occupancy gain, up 62.9 percent to 76.7 percent. Chicago saw the largest increases in ADR, up 43.8 percent to $181.36, and RevPAR, which jumped 113.7 percent to $127.91.

Oahu was the only market to report a RevPAR decline, down 22.7 percent to $176.10.

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U.S. overhauls H-1B lottery for higher-paid workers
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U.S. overhauls H-1B lottery for higher-paid workers

Summary:

  • DHS is replacing the H-1B lottery with a system prioritizing higher-paid foreign workers.
  • It takes effect Feb. 27, in time for the upcoming H-1B cap registration season.
  • The rule aligns with the $100,000-per-visa presidential proclamation.

THE DEPARTMENT OF Homeland Security is replacing its lottery system for H-1B visas with a new process that prioritizes higher-paid foreign workers. The new system takes effect Feb. 27, for the upcoming H-1B cap registration season.

Meanwhile, the change follows actions by the Trump administration to reshape a visa program that critics say favors lower-paid overseas workers, while supporters say it supports innovation, according to The Associated Press.

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