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Visitors, Workers Drive Record Loop Activity in Q2 Report
The Chicago Loop Alliance released its State of the Loop report for the second quarter of 2023 on downtown activity. The report tracks pedestrian activity, hotel occupancy, office workers on-site, and more through a variety of data sources.
Major events like Taylor Swift at Soldier Field, the James Beard Awards, the Nascar Street Race, and ASCO Conference drew hundreds of thousands, resulting in an all-time record-breaking hotel occupancy rate during the first weekend in June.
Citywide hotel occupancy for the week ending on May 29 increased 65 percent from 2020 levels. Metra provided 2.9 million passenger trips in quarter one of 2023, and CTA provided nearly 62 million passenger trips in quarter one.
Chicago office occupancy remains above the major U.S. cities average for quarter two, trailing only behind Austin, Houston, and Dallas. Residential development continues with the opening of the 73-story building 1000M, and collectively, Loop household spending capacity exceeds $940 million annually.
