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CoStar: U.S. hotels saw decreased results in November

New York tops with 84 percent occupancy, up 6.3 percent YoY

CoStar: U.S. hotels saw decreased results in November

U.S. HOTELS RECORDED decreased performance results in November, compared to the preceding month, according to CoStar. However, year-over-year comparisons indicated positive improvements.

Occupancy decreased to 58.4 percent in November, compared to 65.8 percent in October, marking a 1.2 percent decline from the previous year. ADR decreased from $161.56 to $151.23, showing a 3.6 percent increase from 2022. RevPAR stood at $88.36, down from $106.38 in the previous month, reflecting a 2.4 percent rise from the preceding year.


Among the top 25 markets, New York City achieved the highest occupancy at 84 percent, marking a 6.3 percent year-over-year increase. Markets with the lowest occupancy for the month were Minneapolis at 49.1 percent and St. Louis at 53.2 percent. Meanwhile, the top 25 markets exhibited superior occupancy and ADR compared to all others.

In October, U.S. hotel revenue surged with rising group demand in the top 25 markets, according to CoStar. GOPPAR hit $97.45, up 3.7 percent YoY. TRevPAR rose to $240.74, a 4 percent increase, while EBITDA PAR was $69.60, down 1.2 percent from September 2022. Labor costs increased to $74.48, up 5.9 percent.

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HIRE Act reintroduced amid H-1B fraud allegations

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  • Krishnamoorthi reintroduced the HIRE Act, proposing to raise the H-1B cap to 130,000.
  • The proposal would help fill tech and defense gaps, fund STEM education.
  • Doubling the cap could boost Indian H-1B approvals if the system is fair, an expert said.

INDIAN-ORIGIN U.S. REP. Raja Krishnamoorthi recently reintroduced legislation proposing to raise the H-1B visa cap to 130,000 amid new fraud allegations against the program. Experts estimate the increase could create 45,000 to 50,000 additional opportunities for Indian professionals, though political uncertainty persists.

The Halting International Relocation of Employment Act would raise the annual H-1B cap from 65,000 (plus 20,000 for advanced degree holders) to 130,000, according to The Times of India.

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