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Loop Hotel Occupancies Near 2019 Levels in August
The dog days of summer, coupled with major events and improved business travel, gave another encouraging boost to the Loop economy in August, the Chicago Loop Alliance reported. Hotel occupancy’s new high of approximately 90% compared to 2019 levels is the highest since February 2020 and shows that visitors are a key factor in the Loop’s changing landscape.
Pedestrian rates seem to also be driven by tourists with sustained impressions over one million weekly. Additionally, CTA ridership shows promise as major events and holidays encouraged use of public transportation.
“While the Loop continues to see progress in key areas around tourism, our office industry still lags behind other metrics,” said Michael Edwards, president and CEO of Chicago Loop Alliance. “We hope to continue to nurture that key demographic, as well as remain open to new strategies and sectors that will help create a thriving Loop neighborhood in this ever-changing environment.”
- ◦Economy
