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CoStar: U.S. hotels see YOY gains in late August

Tampa led the top 25 markets with a 15.2 percent YOY occupancy rise

CoStar: U.S. hotels see YOY gains in late August

U.S. HOTEL PERFORMANCE saw year-over-year gains in late August, though occupancy, RevPAR and ADR declined from the previous week, according to CoStar. Tampa led the top 25 markets with a 15.2 percent year-over-year occupancy increase to 61.7 percent.

Occupancy dropped to 63.9 percent for the week ending Aug. 31, down from 66.1 percent the previous week but up 1.9 percent year-over-year. ADR was $153.67, slightly below the prior week’s $154.80 but 1.6 percent higher than the same week last year. RevPAR fell to $98.18 from $102.30 but was still 3.6 percent higher than the same period in 2023.


Seattle saw the largest ADR increase, up 12.5 percent to $218.08. San Francisco experienced the steepest RevPAR drop, down 22.2 percent to $122.95, followed by Oahu Island's 10.3 percent decline to $194.51.

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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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