Midwest·Destination dashboard
Convention + corporate spine with strong summer leisure. Loop/River North vs suburban O'Hare corridors underwrite differently. Choose Chicago lodging color is CBD-scoped — not full MSA.
Hotel performance
Chicago CBD (downtown). Published figures, accessed 2026-11-04.
Each figure is from the linked source for the period shown. Occupancy and ADR in a row always come from the same source and period. RevPAR marked 'our calculation' is occupancy × ADR from that same row; otherwise it is the source's own figure. Areas differ by market (city, CBD, county or metro) as labeled.
Rates
Tuesday Trends boardCaptured Tue, Nov 3, 2026. Median cheapest refundable nightly rate, 2 adults, pre-tax, across 50 hotels. Indicative Google Hotels prices; decision support, not a quote.
| Out | WeekdayMon–Thu | WeekendFri–Sun |
|---|---|---|
| 1 wk | $288 down 5% vs last Tuesday, 43 same hotels 45/50 priced 4 no rates on Google | $342 down 24% vs last Tuesday, 42 same hotels 50/50 priced |
| 1 mo | $402 up 109% vs last Tuesday, 44 same hotels 44/50 priced 1 no rates on Google | $286 up 4% vs last Tuesday, 48 same hotels 48/50 priced 1 no rates on Google |
| 3 mo | $197 down 46% vs last Tuesday, 43 same hotels 49/50 priced | $203 unchanged vs last Tuesday, 47 same hotels 50/50 priced |
| 6 mo | $404 up 18% vs last Tuesday, 45 same hotels 47/50 priced 3 no rates on Google | $350 unchanged vs last Tuesday, 48 same hotels 49/50 priced 1 no rates on Google |
| ~11 mo | $529 down 6% vs last Tuesday, 38 same hotels 41/50 priced 9 no rates on Google | $495 down 2% vs last Tuesday, 41 same hotels 44/50 priced 6 no rates on Google |
Coverage counts hotels with a refundable rate; low-confidence prices (2 or fewer sellers and no official hotel site) are left out. Thin: under 15 of 50. Week-over-week compares the same hotels both Tuesdays (median of each hotel's change, shown when 15+ hotels compare). ● 10+ no rates on Google at 1 wk. At ~11 months, no rates largely reflect Google's ~330-day pricing limit.
Signals
29 citedChicago talent: 3.1 Notable recent management changes
Marriott Marquis Chicago: operator re-bid (RFP Mar 2026; QMA expiry Sep 2027) — winner no public read.
Chicago tax & CVB: Collections & DMO funding
City business taxes (hotel accommodations tax + checkout bag tax, combined): $186.3M FY2026 budget (+$11.3M vs 2025), driven by room rates…
Chicago tax & CVB: Lodging tax stack (City of Chicago)
Illinois Hotel Operators' Occupation Tax (6% of 94%): 6.0% · 6.17% · IDOR · 2026-05; 2023-08-30
Chicago debt & deals: Market-level reads
Host Hotels Chicago comparable RevPAR, Q3-2025: +2.0% YoY · 2025-11-05
Chicago debt & deals: CMBS / SASB loans & distress
Palmer House Hilton (1,641 keys; Thor Equities; JPMBB 2015-C32 et al.): $328.9M (Trepp/CRE Daily); "$332.2M mortgage" (TRD) · In…
Chicago debt & deals: Named hotel transactions 2025–2026
Royal Sonesta River North → Hotel 505 River North (505 N State): reported 2026-10-08 · Manga Hotel Group venture / Service Properties Trust…
Chicago pipeline: Named projects
Bally's Chicago Casino + Hotel: 500 · UC · River West · Moved to end of Q1/Q2 2027
Chicago pipeline: Stage rollup
CBD net daily supply 2026 / 2027: −44 / +726 rooms LE renovation + conversion: 31 projects / 5,732 rooms.
Chicago supply-pressure score 2/5
2 / 5 (supply tailwind). UC intensity: CBD net change −0.1% (2026) and +1.5% (2027)
Chicago supply: Latest pulse
C&W Q2 2026: OCC 75.8% (+5.2%), ADR $197 (+8.1%), RevPAR $149 (+13.6%)
Chicago supply: Submarket basemap (v0)
Loop: Office-to-hotel conversions: Monroe (327 keys), Burnham Center (250–300, proposed)
Chicago supply: Snapshot
CBD daily room supply: 46,901 (2025) → 46,857 (2026, −0.1%) → 47,583 (2027, +1.5%) · Aug 2026
Chicago talent: 5. Gaps (no public read)
Local 1 settlement terms / strike end date: No public read (live)
Source: No linked public source (reviewed 2026-10-11) · no public read
Chicago talent: 3.2 Pre-open / transition risk
Marriott Marquis operator transition (if incumbent not renewed): 1,205 · QMA ends 2027-09-20 · Key personnel subject to MPEA approval; no…
Chicago talent: 3. Operator bench
Davidson Hospitality Group / Pivot: M · Hotel Lincoln, JdV (182) for Jordache Enterprises; also Hotel Zachary (Tribute), Hyatt Centric Mag…
Chicago talent: 2. Build talent (summary)
Chicago–Naperville–Elgin construction: 193,900 → 199,700 (+5,800, +3%) · Aug 2025 → Aug 2026
Chicago talent: 1.1 BLS OEWS — hotel occupations
Maids & housekeeping cleaners (all industries) (37-2012): 18260 · $17.94 · $19.57
Chicago talent: 1. Wage floor
Chicago minimum wage (4+ employees): $17.05/hr; tipped cash $12.96 · eff.
Chicago labor risk in RSNA peak week (Nov 29–Dec 3): Local 1 dispute covers 46 hotels
RSNA 2026 runs Nov 29–Dec 3 at McCormick Place (exhibits Nov 29–Dec 2; 700+ exhibiting companies; attendance not public).
Chicago 90-day compression calendar (Oct 12 2026 → Jan 10 2027)
2026-10-18 → 2026-10-21: PACK EXPO International (McCormick Place) [Citywide trade show] — Confirmed; ~48,000 projected next pull: South…
Chicago drive + attraction demand anchors
Drive arteries: I-90/94, I-55, I-57, I-65 (NW Indiana), I-88, I-294 tollway ring; Midwest catchment (Milwaukee, Indianapolis, Detroit, St.
Chicago group / citywide demand calendar
PACK EXPO International: Oct 18–21 · McCormick; ~48,000 projected attendees
Chicago visitation / demand volume
Visitors 2025: 56.8M (+nearly 1.5M vs 2024) Spend / jobs 2025: $21.5B record direct spend; 135,360 jobs
Chicago REIT ownership (Tier 1): 5,762 rooms, 4 REITs + Hyatt 182
Rooms owned: PK 2,467 (43%; incl. non-core The Wade and The Midland, 923 rooms targeted for sale); HST 1,562 (27%); APLE 1,379; PEB 354.
Palmer House Hilton — $328.9M CMBS in foreclosure, now also on strike
Palmer House Hilton's $328.9M CMBS loan is in foreclosure (Trepp brand cut: Hilton-flagged full-service NPL 16.17%).
Chicago hotel labor: UNITE HERE Local 1 strike at 6 hotels (from Oct 9)
UNITE HERE Local 1 walkouts since Oct 9 at 6 downtown hotels: Millennium Knickerbocker, Palmer House Hilton, Sheraton Grand Riverwalk…
Chicago CBD leisure vs group mix 2025
Leisure room demand hit a record in 2025 (+4.6% YoY) on a record summer; group demand fell 3.0% YoY amid meeting-planner/international…
Chicago CBD 2025 hotel performance (Choose Chicago)
OCC 69.2% (+1.5% YoY), ADR $243.10 (+0.6%), RevPAR $168.15 (+2.2%).
Which part of Chicago: visitors vs. scarce rooms
Which Chicago: Loop/River North group and summer leisure are not suburban O’Hare corridors. Convention + corporate spine supports weekday; submarket selection drives outcomes. Choose Chicago lodging PDF is CBD-scoped — not full MSA.
History
Airport passengersJul 2026: 5.0M passengers, +1.3% YoY
Passengers boarding flights (enplanements), all carriers, at Chicago, IL: Chicago O'Hare International (ORD) + Chicago, IL: Chicago Midway International (MDW).
| Month | Passengers | YoY |
|---|---|---|
| Jul 2026 | 5,034,911 | +1.3% |
| Jun 2026 | 4,935,242 | +0.3% |
| May 2026 | 4,812,202 | +7.3% |
| Apr 2026 | 4,226,549 | +9.6% |
| Mar 2026 | 4,387,726 | +10.1% |
| Feb 2026 | 3,356,986 | +12.2% |
| Jan 2026 | 3,235,327 | +1.8% |
| Dec 2025 | 4,050,299 | +0.9% |
| Nov 2025 | 3,757,495 | −0.4% |
| Oct 2025 | 4,683,427 | +7.4% |
| Sep 2025 | 4,465,496 | +3.7% |
| Aug 2025 | 4,755,899 | +2.7% |
| Jul 2025 | 4,971,007 | +4.5% |
Show yearly (2015–2025)
| Year | Passengers | YoY |
|---|---|---|
| 2025 | 50,100,114 | +2.2% |
| 2024 | 48,999,485 | +5.4% |
| 2023 | 46,474,340 | +8.7% |
| 2022 | 42,767,815 | +25.7% |
| 2021 | 34,030,086 | +79.4% |
| 2020 | 18,970,118 | −62.8% |
| 2019 | 50,940,658 | +0.8% |
| 2018 | 50,550,465 | +2.2% |
| 2017 | 49,464,660 | +1.9% |
| 2016 | 48,523,788 | +3.1% |
| 2015 | 47,051,426 | — |
Lodging jobs & wages2023 (latest; BLS withheld 2024): 35,535 jobs, +10.3% YoY
Traveler accommodation (NAICS 7211), private sector, Metro area (BLS area code C1698). Employment and wages at hotels and other lodging, a public proxy for lodging activity. Not occupancy, ADR or RevPAR. Each market uses one industry level across all years shown.
| Year | Jobs | YoY | Wages | Estab. |
|---|---|---|---|---|
| 2023 | 35,535 | +10.3% | $1,810.6M | 947 |
| 2022 | 32,210 | +37.5% | $1,590.5M | 964 |
| 2021 | 23,431 | +1.0% | $1,035.2M | 955 |
Show yearly (2015–2023)
| Year | Jobs | YoY | Wages | Estab. |
|---|---|---|---|---|
| 2023 | 35,535 | +10.3% | $1,810.6M | 947 |
| 2022 | 32,210 | +37.5% | $1,590.5M | 964 |
| 2021 | 23,431 | +1.0% | $1,035.2M | 955 |
| 2020 | 23,204 | −45.0% | $878.1M | 952 |
| 2019 | 42,179 | +1.9% | $1,707M | 951 |
| 2018 | 41,379 | +2.2% | $1,611.9M | 931 |
| 2017 | 40,487 | +1.4% | $1,528.1M | 914 |
| 2016 | 39,910 | +2.6% | $1,471.8M | 936 |
| 2015 | 38,901 | — | $1,463M | 927 |
Per-year files: 2023 ↗ · 2022 ↗ · 2021 ↗ · 2020 ↗ · 2019 ↗ · 2018 ↗ · 2017 ↗ · 2016 ↗ · 2015 ↗
Sources: U.S. Bureau of Transportation Statistics, T-100 via TranStats (Passengers data element) ↗, airports ORD, MDW, Jan 2015–Jul 2026, accessed 2026-11-04. BTS publishes T-100 airport data about three months after the month ends; the latest month here is the newest BTS had posted when accessed. U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages ↗, annual averages, accessed 2026-11-04; withheld years left out.
Hotel-tax collections
newest first · 27 periodsChicago MPEA hotel tax, monthly collections — Aug 2026
$9,865,320 · Prior-year month: $8,877,467 · YoY: +11.1%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago City hotel accommodations tax, 2026 monthly — Aug 2026
Collections: $18,751,000 · YoY: n/a (no 2025 monthly hotel line published).
Chicago City hotel accommodations tax, 2026 monthly — 2026 YTD through Aug
Collections: $91,914,000 · YoY: n/a. Basis: point-in-time, revised; no YoY published; City FY = calendar year.
Chicago MPEA hotel tax, fiscal-year / YTD — FY2027 YTD Jul–Aug 2026
Collections: $16,603,544 · Prior year: $15,165,245 · YoY: +9.5%.
Chicago MPEA hotel tax, monthly collections — Jul 2026
$6,738,224 · Prior-year month: $6,287,778 · YoY: +7.2%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago City hotel accommodations tax, 2026 monthly — Jul 2026
Collections: $20,752,000 · YoY: n/a (no 2025 monthly hotel line published).
+21 earlier periods
Chicago MPEA hotel tax, monthly collections — Jun 2026
no public read (report not retrievable this pass). Gap note kept as written; no figure loaded.
Source: Metropolitan Pier and Exposition Authority (no public read) · no public read
Chicago City hotel accommodations tax, 2026 monthly — Jun 2026
Collections: $18,491,000 · YoY: n/a (no 2025 monthly hotel line published).
Chicago MPEA hotel tax, monthly collections — May 2026
$3,402,566 · Prior-year month: $3,353,221 · YoY: +1.5%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago City hotel accommodations tax, 2026 monthly — May 2026
Collections: $12,318,000 · YoY: n/a (no 2025 monthly hotel line published).
Chicago MPEA hotel tax, fiscal-year / YTD — FY2026 YTD Jul 2025–May 2026
Collections: $74,843,896 · Prior year: $71,731,757 · YoY: +4.3%.
Chicago MPEA hotel tax, monthly collections — Apr 2026
$2,805,359 · Prior-year month: $2,729,517 · YoY: +2.8%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago City hotel accommodations tax, 2026 monthly — Apr 2026
Collections: $9,990,000 · YoY: n/a (no 2025 monthly hotel line published).
Chicago MPEA hotel tax, monthly collections — Mar 2026
$4,171,161 · Prior-year month: $4,809,828 · YoY: -13.3%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago City hotel accommodations tax, 2026 monthly — Mar 2026
Collections: $6,418,000 · YoY: n/a (no 2025 monthly hotel line published).
Chicago MPEA hotel tax, monthly collections — Feb 2026
$5,670,159 · Prior-year month: $6,602,320 · YoY: -14.1%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago City hotel accommodations tax, 2026 monthly — Feb 2026
Collections: $5,194,000 · YoY: n/a (no 2025 monthly hotel line published).
Chicago MPEA hotel tax, monthly collections — Jan 2026
$9,139,356 · Prior-year month: $8,626,243 · YoY: +5.9%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago MPEA hotel tax, monthly collections — Dec 2025
$8,488,042 · Prior-year month: $8,093,369 · YoY: +4.9%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago MPEA hotel tax, monthly collections — Nov 2025
$8,133,041 · Prior-year month: $8,381,700 · YoY: -3.0%. Derived, not published as a line: YTD Dec $49,655,294 − Dec $8,488,042 − YTD Oct…
Chicago MPEA hotel tax, monthly collections — Oct 2025
$8,763,746 · Prior-year month: $7,966,877 · YoY: +10.0%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago MPEA hotel tax, monthly collections — Sep 2025
$9,105,219 · Prior-year month: $8,092,255 · YoY: +12.5%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago MPEA hotel tax, monthly collections — Aug 2025
$8,877,467 · Prior-year month: $7,993,011 · YoY: +11.1%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago MPEA hotel tax, monthly collections — Jul 2025
$6,287,778 · Prior-year month: $5,083,415 · YoY: +23.7%. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago MPEA hotel tax, fiscal-year / YTD — FY2024 (Jul 2023–Jun 2024), annual
Collections: $67,531,181 · Prior year: $63,705,499 · YoY: +6.0% (computed).
Chicago MPEA hotel tax, fiscal-year / YTD — FY2023 (Jul 2022–Jun 2023), annual
Collections: $63,705,499 · YoY: n/a. Basis: cash collected (state-remitted); FY Jul–Jun.
Chicago hotel-tax series — gaps
Chicago hotel-tax series gaps (as of 2026-10-11): MPEA Jun 2026: the report URL hit a bot check repeatedly — no public read this pass.
Source: Official publishers (gap note; no public read) · no public read
Assets
none yetWho owns here
20 REIT-owned hotels · APLE, BHR, DRH, HST, INN, PEB, PK, RLJ- Hilton Chicago1,544 roomsPK
- Chicago Marriott Downtown Magnificent Mile1,200 roomsDRH
- Swissôtel Chicago662 roomsHST
- The Wade520 roomsPK
- Embassy Suites by Hilton Chicago Downtown Magnificent Mile455 roomsHST
- The Westin Chicago River North445 roomsHST
- Sofitel Chicago Magnificent Mile415 roomsBHR
- The Midland Hotel, a Tribute Portfolio Hotel403 roomsPK
+12 more REIT-owned hotels in Chicago
- Hotel Chicago Downtown, Autograph Collection354 roomsPEB
- The Gwen Hotel311 roomsDRH
- Courtyard Chicago Downtown Magnificent Mile306 roomsRLJ
- Hilton Garden Inn Des PlainesDes Plaines, IL253 roomsAPLE
- Hampton SkokieSkokie, IL225 roomsAPLE
- Hyatt Place Chicago206 roomsINN
- Hilton Garden Inn Hoffman EstatesHoffman Estates, IL184 roomsAPLE
- Hilton Garden Inn MettawaMettawa, IL170 roomsAPLE
- Hampton RosemontRosemont, IL158 roomsAPLE
- Hilton Garden Inn WarrenvilleWarrenville, IL135 roomsAPLE
- Residence Inn MettawaMettawa, IL130 roomsAPLE
- Hilton Garden Inn MerrillvilleMerrillville, IN124 roomsAPLE
Recorded REIT transactions (comps)
From REIT filings; this list may be incomplete.
- Silversmith Hotel Chicago DowntownJun 1, 2026 · sold by AHT · 144 rooms$16.0Mfiling ↗
- The Westin Michigan Avenue ChicagoDec 3, 2025 · sold by PEB$72.0Mfiling ↗
- Residence Inn MerrillvilleMay 21, 2024 · sold by RLJ · 78 roomsprice not disclosedfiling ↗
- Marina City retail space and two parking facilities adjacent to its Hotel Chicago Downtown, Autograph CollectionDec 21, 2023 · sold by PEB$30.0Mfiling ↗