CHICAGO (WBBM NEWSRADIO) -- The hotel industry is looking to the city to provide $75 million in federal coronavirus relief money to get back up and running.
Hotels are seeing light at the end of the tunnel with conventions, the Chicago Auto Show, Lollapalooza, and more returning; and they’re expecting a return of tourists.
"They are definitely looking up. They are far better than where we were at this point last year, we are still about 60-65 percent lower in occupancy than we were in 2019, so things are definitely looking better than where they were, but we have a long ways to go until we fully recover; that's something we don't expect until 2024," said Michael Jacobson, President and CEO of the Illinois Hotel & Lodging Association.
But, particularly on the leisure travel side, he said, there is a lot of pent up demand.
"People are stir crazy, they are sick of being in their homes, they want to get out, and the timing couldn't be more perfect for Chicago, because you look at those summer months - there is no better time," he said.
Now, more hotels are reopening and those that have remained open are adding staff. Jacobson said rates today are 30 percent lower than they were in 2019.
He added the $75 million would go toward covering reopening costs for payroll, as hotels look to rehire people. He said the hotels are especially in need of people in management positions.
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