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Hotel Occupancy, Downtown Programming Point to Loop Recovery
Hotel occupancy in downtown Chicago reached a new high of nearly 90% recovery rate, surpassing the previous record in May, the Chicago Loop Alliance said Thursday. The surplus of major programming like Lollapalooza and Sundays on State also invigorated the recovery of the Loop, with over 113,000 attendees at the first Sundays on State and over 100,000 attendees daily during Lollapalooza weekend.
Along with vital progress in pedestrian activity and hotel occupancy, news of future developments to the recovery of the Loop abounded in July, with the purchase of the Thompson Center by Google, and the NASCAR deal beginning in 2023.
“The Loop is seeing a lot of progress, from the continued return of pedestrians to State Street to the outstanding performance of Loop hotels; we are confident that the recovery in these key sectors will only trend upward,” said Michael Edwards, president and CEO of Chicago Loop Alliance.
- ◦Economy
