While event would provide a much-needed spark, it would require lots of organization and economic boost might not be as much as estimated.
Stars and stripes decorate the overpass on Madison Street over the Kennedy Expressway on March 31, 2022, in Chicago. The overpass is one of the last remaining relics of the 1996 Democratic National Convention.
“We need to bring these conventions back to Chicago following the pandemic,” said Jack Lavin, president and CEO of the Chicagoland Chamber of Commerce, estimating that it could bring 35,000 delegates and visitors to the area. “It will be a great shot in the arm for Chicago.” “We have lots of hotel space, we’ve got a great, world-class restaurant community,” Lightfoot said Thursday. “We’ve got tons of entertainment, arts and culture, really bar none in the world.”
The Chicago hotel industry has struggled during the pandemic, with occupancy in the central business district dropping to 26% in 2020 from 74% in 2019, according to data from research firm STR. While hotel occupancy recovered to 42.6% last year, it fell sharply again in January to 23.7% amid the rise of the omicron variant.
Toia said restaurants, hotels and entertainment venues saw a one-week spike in business during the 1996 convention but that the event was also a catalyst for long-term economic development in the West Loop.
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