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U.S. hotel performance, YOY comparisons up in third week of October

Seattle sees the biggest year-over-year occupancy boost, up 8.5 percent to 76.1 percent

U.S. hotel performance, YOY comparisons up in third week of October

U.S. HOTEL PERFORMANCE saw an uptick in the third week of October compared to the previous week, according to CoStar. Year-over-year comparisons also showed signs of improvement.

Occupancy stood at 69 percent for the week ending on Oct. 21, a slight uptick from the previous week’s 68.5 percent, and a marginal year-over-year decline of 0.8 percent. ADR increased to $165.3, up from the previous week’s $164.25, marking a 3.8 percent surge compared to the previous year. RevPAR also showed improvement, reaching $114.04, surpassing the previous week’s $112.51, and reflecting a 2.9 percent rise from 2022.


Among the top 25 markets, Seattle experienced the most substantial year-over-year increase in occupancy, rising by 8.5 percent to reach 76.1 percent. Las Vegas recorded the most significant gains in ADR, surging by 20.3 percent to $257.42, and RevPAR saw an increase of 23.5 percent, reaching $229.57.

Miami saw the steepest RevPAR decline, dropping by 12.3 percent to $133.01.

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HIRE Act Reintroduced amid H-1B Fraud Allegations
Photo by Chip Somodevilla/Getty Images

HIRE Act reintroduced amid H-1B fraud allegations

Summary:

  • 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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