Our Chicago: Lollapalooza’s impact on tourism and businesses

Our Chicago: Lollapalooza’s impact on tourism and businesses

CHICAGO (TOC) — Tourism throughout the U.S. and right here in Chicago is rebounding, however greater than two years after the beginning of the pandemic, Michael Jacobson, the president and CEO of the Illinois Lodge and Lodging Affiliation, says enterprise journey continues to be lagging right here in Chicago.

That is why the leisure traveler is essential this summer time, and there are millions of these vacationers on the town this weekend for Lollapalooza.

“So that is the largest weekend of the yr, yearly, Lollapalooza,” Michael Jacobson stated. “It brings 400,000 guests to town and it is only a important weekend for our motels, particularly proper now greater than enterprise journey whereas we look forward to enterprise hassle to nonetheless recuperate.”

Jacobson stated most of their motels have been bought out for Lollapalooza weekend. And whereas the information is not instantly out there, he expects resort occupancy for the weekend to be within the excessive 80s, low 90 p.c vary for occupancy.

“Occasions like Lollapalooza not solely accomplish that a lot for our motels, however actually the broader economic system,” Jacobson stated.

Our Chicago: Half 2

Kiana DiStasi, Chief Advertising and Communications Officer with the Chicago Loop Alliance, agrees.

“Lollapalooza is all the time a giant financial driver for the Loop,” DiStasi stated. “The financial impression of the occasion is hundreds of thousands.”

Chicago Loop Alliance tracks pedestrian counts and he or she says annually, Lollapalooza is after they see among the peak numbers when it comes to weekly pedestrian counts on State Avenue and all through the Loop.

“We do month-to-month information studies the place we compile metrics on all the pieces pertaining to restoration, pedestrian counts, resort occupancy, workplace staff in workplace and the development traces are all pointing up,” DiStasi stated. “And when you’ve been within the Loop not too long ago, you are feeling the thrill. Actually quite a lot of that hustle and bustle is again. We’re speaking to quite a lot of our enterprise homeowners who’re assembly 2019 numbers or generally exceeding their 2019 numbers when it comes to gross sales and site visitors, and so the information is absolutely good when it comes to how these issues are performing.”

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