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Chicago’s tourism industry continues to break records

Chicago‚€ôs tourism industry continues to break records
15 Oct 2014

It may be known as the Windy City, but Chicago clearly is one of the hottest cities to visit in the United States as the city has seen its tourism industry have a record breaking summer.

Summer 2014 was the first time that records were broken across all performance indicators within the city, which include average daily rate, supply, demand, occupancy, revenue per available room and overall revenue.

Mayor Rahm Emanuel announced earlier in the year that he hopes Chicago will have 55 million visitors a year by 2020, in turn creating 30,000 new jobs in the city. The figures depicting hotel performance from May to August this year suggest that this is very much achievable.

In July and August, occupied rooms in hotels surpassed one million per month for the first time, with the overall room demand for the season reaching a record 3.98 million rooms sold. This is a 4.4 per cent increase on last year’s summer season room occupancy.

Mayor Emanuel said: “This summer was a prime example of how, by making Chicago a destination for national and international travellers, leisure and business alike, we are making important gains that are bringing more opportunities to more Chicagoans.”

The overall hotel revenue, which included leisure room demand, was $858.5 million (approximately £528.6 million) for the season, which was a seven per cent increase on the previous year, as well as being the fifth consecutive year of growth.

In total, the overall hotel revenue for the summer produced $47.9 million (approximately £25.5 million) in city tax revenue for Chicago, which is a record figure.

Mayor Emanuel added: “Our strategy is working and we will continue to aim higher to set new records next year, because bringing more conventions and tourism to Chicago means more jobs for residents and further supports our city’s economic growth.”

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