CHICAGO Downtown hotels ended 2000 with an occupancy rate of 76.2% for the 10 months ended October 31, 2000, up nearly 6% over 1999. Crain s Chicago Business also reported the average room rate for the same period was $154.77, an increase of 6% over a year ago.
According to Property Valuation Advisors and Smith Travel Research data, the strong results reflect a typically big convention year supplemented by last summer s higher than usual tourism. (12/30/00)