First Six Months of 2014 Deliver Record Demand; Growing Chicago Tourism is a Key Initiative of the Plan for Economic Growth and Jobs
CHICAGO–(ENEWSPF)–August 21, 2014. Mayor Rahm Emanuel and Don Welsh, President and CEO of Choose Chicago today announced Chicago surpassed the one million mark for occupied hotel rooms in July. This is the first time in the city’s history that more than one million rooms have been sold in a single month. Total room demand for July was up 1.4% to a record 1,004,557 room nights.
“Chicago’s tourism strategy is about more than showing off our great city to visitors from around the country and globe, it’s about creating jobs and economic opportunity for every Chicagoan and every neighborhood,” said Mayor Emanuel. “These results show the potential of this part of our economy to continue to return significant dividends to taxpayers and residents.”
This milestone follows an exceptional first half of 2014 which produced record demand with a 2.2% increase over the first six months of 2013. Chicago’s hotel community offered an additional 313,000 room nights compared to the same period in 2013. This growth represents 4.67 million hotel rooms occupied in the first-half of 2014, which further supports the 133,000 jobs and more than $13 billion in spending generated as a result of annual visitation to Chicago.
Chicago is among the fastest growing markets in the world for new hotel development. Supply grew at its fastest pace on record in the first half of 2014, advancing 4.9% to 6.7 million available room nights.
July’s record performance signals continued positive results for Chicago’s hotel community through the end of 2014. The total room demand of 1,004,557 room nights in July was supported by the Group segment which grew 9.0% to 328,806 room nights. Leisure demand grew by 1.6% to a record 655,783 room nights. Contracted room demand was up 11.6% to a record 19,968 rooms.
The Average Daily Rate (ADR) in July increased across all three segments, including Leisure at $206.91, Group at $199.31 and Contract at $115.93. An overall ADR of $202.61 (+4.8%) was the first ever July to exceed a $200 rate.
“Visitors from around world are quickly discovering the tremendous experiences Chicago offers year-round. We are extremely pleased with these results and the impact on Chicago’s overall economy.” said Welsh. “Mayor Emanuel and our partners continue to support the mission and goals of Choose Chicago. The investments we have made in the regional, national and international markets are working.”