Rising room demand in Chicago prompts a wave of hotel development

12/26/2012 | Crain's Chicago Business (free registration)

The Chicago lodging market is experiencing a boom in property development in response to a rise in leisure and business travel to the city. Downtown Chicago is expected to add 2,340 rooms to its supply, with seven hotels under construction. Revenue per available room in the downtown area during the first 11 months of 2012 rose 11% compared with year-earlier figures.

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