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:
- Hotel room demand in the Central Business District was a 1,013,063 rooms occupied in May, a 0.8% decrease from 1,021,309 rooms a year ago.
- The overall average daily rate (ADR) was $225.86 in May, down from $254.90 in May 2015.
- The Chicago Central Business District has 115 hotel properties comprising more than 39,000 rooms. Recently opened hotels include AC by Marriott (217 rooms), the Hyatt Place Chicago/Downtown-The Loop (206 rooms) and the Loews Chicago Hotel (400 rooms).
- More than 3,100 new rooms are expected to open in the next two years, including the Viceroy Hotel (2017), Marriott Marquis Chicago (1,200 rooms, 2017), Sheraton (175 rooms, 2017), and Hilton Garden Inn (200 rooms, 2017).
- O’Hare – the world’s busiest airport in terms of flight operations – and Midway International airports served a combined 8.23 million air passengers in April 2016, a 1.4% increase over last April.
Average daily rate and room demand 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.