Hotel Occupancy on the Rise in Chicago

Posted: Feb. 4th, 2013  |  By Michael Pearse

Chicago’s economy seems to be prospering. Proof of that happens to be that the hotel occupancy rate is right back up at the level it was before the economic recession occurred. The rate has been increasing steadily for three years straight now, and hopefully it continues to do so.

The city’s tourism promoters said Wednesday that the Chicago hotel business improved in 2012 for the third straight year, with occupancy rates tying the record set in 2007.

An average 75.2 percent of Chicago hotel rooms were occupied in 2012, up 4.2 percentage points from the prior year, said tourism agency Choose Chicago. It noted that the increase occurred even with an addition in the inventory of downtown hotels.

Other key measures of the business, average daily rate and revenue per available room, also increased and are within 5 percent of their all-time highs, the agency said. The average daily rate was up 5.6 percent from 2011 to $187.27 and the revenue per available room increased 10 percent to $140.76.

Choose Chicago said the growth in visitors resulted in hotel tax revenue hitting $100 million, up $25 million from 2011.

You might like : Where to Stay in Chicago

Best Things To Do >

In a city that offers a wide array of things to see and do, deciding where to start can sometimes prove to be a challenge. View All Things To Do in Chicago >

The Best Restaurants >

Here, you will find only the finest restaurants, each which has been carefully selected based on its cuisine, ambiance, location, chef, awards and reviews. View All Chicago Restaurants >

The Best Nightlife >

From multi-level dance clubs and celebrity hotspots to popular watering holes and jazz clubs, experience the local nightlife scene at its finest with our list of top recommendations. View All Chicago Nightlife >

The Best Art & Culture >

Before your next luxury trip to the city, be sure to check out some of our favorite local landmarks, cultural attractions, and diverse blend of museums and art galleries. View All Chicago Culture >

Best Designer Shops >

From the best shopping districts, department stores, and local boutiques, you're sure to find the shopping destination that best suits your needs. View All Chicago Shops >

Best Luxury Services >

As a luxury lifestyle enthusiast, we understand that when it comes to service, only the best will do. View All Chicago Luxury Services > Luxury NEWS >