Powered by

(NO) VACANCY; Are there too many hotel rooms in Chicago? Prices, occupancy are down -- good for you, bad for hoteliers

Nov 03, 2019 - Chicago Tribune

From funky boutique hotels in Fulton Market to the gleaming 1,200-room Marriott Marquis welcoming conventioneers at McCormick Place, Chicago is suddenly brimming with new and diverse places to get a room for millions of annual visitors.

Dozens of recent hotel developments mean more choices for guests on where they want to stay, how much they want to pay and what amenities they might need to help them make it through the night.

For many hotel operators, however, times are tough.

Struggling to keep up with a glut of new rooms across the city, Chicago hoteliers faced January's polar vortex, a cyclical downturn in convention business, lower rates, lower occupancy and at least one high-profile default in 2019...