Visitors and workers drove record activity in the Chicago Loop during the second quarter of 2023, according to a report released by the Chicago Loop Alliance. The State of the Loop report tracked pedestrian activity, hotel occupancy, office workers on-site and more through a variety of data sources.
Major events such as Taylor Swift at Soldier Field, James Beard Awards, Nascar Street Race and ASCO Conference drew hundreds of thousands to downtown Chicago resulting in an all-time high hotel occupancy rate during early June. Citywide hotel occupancy for week ending May 29 increased 65 percent from 2020 levels while Metra provided 2.9 million passenger trips in Q1 2023 and CTA nearly 62 million passenger trips over same period.
Chicago office occupancy remained above major U.S cities average for Q2 trailing only Austin, Houston & Dallas while residential development continued with opening 73 story building 1000M . Collectively loop households’ spending capacity exceeded $940 million annually .
