Chicago hotels are showing continued recovery, observers say

02/23/2012 |

The third-largest lodging market in the U.S. is picking up its recovery momentum as Chicago's revenue per available room climbed 8.8%, to $75.81, and growth in average daily rate reached 4.7% in 2011, industry observers noted during STR Analytics' Tour de Data event in Chicago. Occupancy in the leisure and business segments also continues to grow, boosting the area's attractiveness to hotel investors. STR Analytics director Carter Wilson's projections for Chicago in 2012 include 65.3% occupancy, a 3.9% ADR growth and a revPAR increase of 5.7%.

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