Illinois Reports Record-Breaking $308M in Hotel Revenue for the Year

Illinois Reports Record-Breaking $308M in Hotel Revenue for the Year

Illinois hotels reported a record amount of tax revenue for the state during the past 12 months, marking progress in its hospitality sector still recovering from pandemic-related impacts. Chicago Governor J.B. Pritzker announced that $308 million was collected in hotel tax revenue during its 2023 fiscal year, which ended on June 30 – up 36% from the 2022 fiscal year and topping the previous record high of $296 million pulled in from hotels during 2019’s fiscal year. Additionally, Illinois welcomed 111 million visitors who spent $44 billion in 2022 – 14 million more travelers spending an additional $12 billion compared to 2021 calendar year figures.

“More tourism means millions of new visitors exploring all our amazing state and city have to offer – supporting small businesses and local economies along their journey,” said Governor Pritzker.”

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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