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Chicago & Midwest  + Downtown  + Hospitality  | 

Chicago Hotel Occupancy Climbs Above 2019 Levels

Average hotel occupancy rate for January and February of 2023 in Chicago’s Loop nearly doubled from 2022 and nearly tripled from 2021, the Chicago Loop Alliance reported. Citywide hotel occupancy for the week ending on March 25 increased 7% from 2019 levels. 

“The hotel association, the restaurant association — they’ve all been working very hard to get some of those big conferences back into town,” Michael Edwards, president and CEO of the Chicago Loop Alliance, told the Chicago Business Journal. “The first quarter is the slowest quarter for hotels, so I think it’s a really good sign that we were above 2019 levels and that bodes well for the future of the hotel industry here in the Loop.” 

Hotel data figures are based on the hotel room occupancy of 15 hotels in the Chicago Loop. They’re calculated and provided by hotel market data company STR Inc. 

Pictured: Hilton Chicago.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy