How Does Our Industry View the Remainder of the Year?

With government trends fluctuating, the events and hotel industry remain cautious. According to CBRE (Global Commercial Real Estate), chain scales remain positive with luxury brands continuing to be the standout. The RevPar (revenue per available room) reporting was less favorable, while the TSA is showing a quantity of travelers on track with 2024.

Reporting specifically on the Chicago market, CoStar, ADRs (average daily rates) have exceeded pre-pandemic levels and is tracking to continue growing, albeit slowly, and still show a steady increase between now and 2026. Throughout the state, Illinois is still tracking behind the national RevPAR ($99 USD / $84 USD), but general comments and new leadership at CVBs show promising growth.