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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.
- ◦Economy