D
uring the Democratic National Convention, downtown Chicago hotels experienced an increase in revenue despite not reaching full capacity. According to Crain's, occupancy rates in the Central Business District averaged around 75 percent, which was higher than the previous year but lower than pre-pandemic levels. Despite this, room rates were increased, resulting in an average revenue per available room of $142, a significant increase from previous years.

    While some luxury hotels benefited from hosting VIP guests, mid-tier properties struggled to fill their rooms. The discrepancy in bookings led to frustration among some hotel managers who had hired extra staff in anticipation of higher occupancy rates.

    The long-term impact of the DNC on Chicago's reputation may be more valuable than the immediate revenue boost. The event attracted an estimated 50,000 visitors, many of whom were experiencing The Windy City for the first time. While the exact economic impact is still uncertain, hoteliers are optimistic about future events, such as the International Manufacturing Technology Show, which is expected to draw 110,000 attendees in September.

    Despite the lack of DNC bookings, hoteliers are preparing for another major event in the city. The DNC provided an opportunity for hoteliers to showcase their properties and for the city to gain exposure on a national stage. While some hoteliers were disappointed with the bookings, others saw the event as a chance to demonstrate their commitment to providing high-quality accommodations and services to visitors.