Our Chicago: Lollapalooza’s impact on tourism and businesses

CHICAGO (WLS) — 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 remains to be lagging right here in Chicago.

That is why the leisure traveler is essential this summer season, and there are literally thousands 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 essential weekend for our motels, particularly proper now greater than enterprise journey whereas we watch for enterprise bother to nonetheless get well.”

Jacobson stated most of their motels had been offered out for Lollapalooza weekend. And whereas the info 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 achieve this a lot for our motels, however actually the broader economic system,” Jacobson stated.

Our Chicago: Half 2

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

“Lollapalooza is at all times an enormous financial driver for the Loop,” DiStasi stated. “The financial influence of the occasion is hundreds of thousands.”

Chicago Loop Alliance tracks pedestrian counts and she or he says every year, Lollapalooza is once they see a few of the peak numbers when it comes to weekly pedestrian counts on State Road and all through the Loop.

“We do month-to-month information reviews the place we compile metrics on all the pieces pertaining to restoration, pedestrian counts, resort occupancy, workplace employees in workplace and the development strains are all pointing up,” DiStasi stated. “And should you’ve been within the Loop just lately, you feel the joy. Actually numerous that hustle and bustle is again. We’re speaking to numerous our enterprise homeowners who’re assembly 2019 numbers or generally exceeding their 2019 numbers when it comes to gross sales and visitors, and so the information is basically good when it comes to how these issues are performing.”