Making Chicago a premier destination for tourism and entertainment is a major part of Mayor Rahm Emanuel’s Plan for Economic Growth & Jobs that WBC is implementing to drive growth in Chicago. Choose Chicago, the official destination marketing organization for Chicago, also plays an integral role in economic growth by attracting business and leisure visitors to the city.
The following points summarize recent hotel and air passenger trends for Chicago:
- Chicago’s overall hotel occupancy rate was 54.3% in February, down from 57.1% a year ago.
- The overall average daily rate (ADR) was $138.05 in February, down from $141.01 in February 2015.
- The Chicago Central Business District has 115 hotel properties comprising 39,098 rooms. Recently opened hotels include the Chicago Athletic Association Hotel (241 rooms), AC by Marriott (217 rooms), and the Loews Chicago Hotel (400 rooms).
- More than 3,500 new rooms are expected to open in the next two years, including the Jaslin Chinatown Hotel (101 rooms, 2016), Nobu Hotel (76 rooms, 2017), and Ace Hotel (150 rooms, 2017).
- O’Hare – the world’s busiest airport in terms of flight operations – and Midway International airports served a combined 7.05 million air passengers in January 2016, a 7.3% increase over last January.
Average daily rate and occupancy trends are illustrated in the following charts:
Chaired by Mayor Rahm Emanuel, World Business Chicago is the public-private partnership leading the Plan for Economic Growth and Jobs in order to drive business development, cultivate talent, and put Chicago at the forefront of the global economy.
WBC’s “Economic Briefs” track indicators from month to month to gauge the strength of several aspects of Chicago’s economy, including unemployment, population, venture capital, job openings and new hires, home sales, tourism, etc. This data provides a clear analytic framework for specific Plan strategies and initiatives. For a summary of these and other economic indicators, refer to WBC’s monthly Chicago By The Numbers.