{"id":2279,"date":"2024-01-23T00:00:00","date_gmt":"2024-01-23T00:00:00","guid":{"rendered":"https:\/\/loopchicago.local\/press-releases\/holiday-festivities-and-downtown-attractions-drove-end-of-year-success-across-various-sectors\/"},"modified":"2026-07-16T09:38:45","modified_gmt":"2026-07-16T14:38:45","slug":"holiday-festivities-and-downtown-attractions-drove-end-of-year-success-across-various-sectors","status":"publish","type":"press_release","link":"https:\/\/loopchicago.com\/es\/press-releases\/holiday-festivities-and-downtown-attractions-drove-end-of-year-success-across-various-sectors\/","title":{"rendered":"Holiday festivities and downtown attractions drove end of year success across various sectors"},"content":{"rendered":"

Contacto de prensa:<\/strong> Ariella Gibson | Gerente de Marketing y Comunicaciones, Chicago Loop Alliance | Ariella@ChicagoLoopAlliance.com<\/a> | 708-543-4002<\/p>

MEDIOS DE COMUNICACI\u00d3N:<\/strong> Consulte y descargue fotos y videos aqu\u00ed.<\/a><\/p>

SOCIAL:<\/strong>
Instagram: @loopchicago<\/a>   Facebook: @ChicagoLoopAlliance<\/a>   Twitter: @ChiLoopAlliance<\/a>
LinkedIn: @Chicago-Loop-Alliance<\/a> TikTok: @loopchicago<\/a>

FOR IMMEDIATE RELEASE | Jan. 23, 2024<\/strong><\/p>

CHICAGO\u2014<\/strong>Today, Chicago Loop Alliance (CLA) released its quarter four 2023 State of the Loop report on downtown activity, using a variety of data sources, which the organization has produced since July 2020. The report tracks pedestrian activity, shared mobility and transit, hotel occupancy, office workers on-site, arts and culture, retail, and more. Record-breaking attendance at holiday attractions; robust hotel activity and continued increases in office attributed to success in pedestrian activity and office occupancy. View the quarter four (Oct.-Dec. 2023) State of the Loop report <\/strong>aqu\u00ed<\/strong><\/a>.<\/strong><\/p>

\u201cRounding out 2023 with significant investments in office; exponential increases in arts and culture attendance; and leisure tourism exceling in hotel occupancy early in the quarter, Loop activity remains strong, suggesting that investments in downtown events advances activity in other sectors,\u201d said Michael Edwards, presidente y director ejecutivo de Chicago Loop Alliance<\/strong>. \u201cWhile office occupancy shows incremental increases, the sector is buoyed by activity in the Loop office market. A variety of actions including, companies utilizing less space, but relocating to the Loop; major refinancing and millions invested in office amenities aimed at attracting workers back to the office; and the purchase of smaller buildings, at deep discounts, providing compact physical offices, showcases organizations continue to bet on the Loop.\u201d<\/p>

Pedestrians
<\/strong>In 2023, State Street in the Loop saw over 67 million pedestrian impressions<\/strong>. Q4\u2019s highest level of pedestrian activity came during the week of 11\/13 with 1.3 million impressions, exceeding the same week in 2019<\/strong>. That week, holiday attractions drew large amounts of people to the Loop, proving that investment in downtown events yields results across various sectors. Overall, total impressions in Q4 2023 exceeded 88 percent of 2019 levels<\/strong>, showing a 33 percent increase<\/strong> since 2021.<\/p>

Arts and Culture
<\/strong>The arts & theater scene downtown continues to drive the Loop\u2019s economic recovery. Offerings like \u201cHamilton,\u201d \u201cA Christmas Carol\u201d, and Joffrey\u2019s \u201cThe Nutcracker\u201d brought 1.4 million<\/strong> attendees to the Loop in Q4, an increase of 40 percent <\/strong>from Q4 2022, and a 303 percent increase<\/strong> from Q3 2023. Robust theater, museum, and other cultural institutions\u2019 attendance contributed $394 million<\/strong> to the Loop economy. Bravo!<\/p>

A record-breaking attendance of 1.3 million visitors<\/strong> at Daley Plaza\u2019s Christkindlmarket and nearly 70,000 skaters at Millennium Park\u2019s McCormick Tribune Ice Rink bolstered continued growth and neighborhood vibrancy.<\/p>

Hoteles<\/strong>
Positive trends in 2023\u2019s occupancy continued into Q4, with October\u2019s 77 percent occupancy rate<\/strong> mirroring levels from the summer. Activity and visitation broke additional records as revenue increased by<\/strong> 6 percent<\/strong> from the previous quarter to $301 million<\/strong>, a high for the year according to Choose Chicago.<\/p>

 <\/span><\/p>

Office Occupancy
<\/strong>Office occupancy rates downtown increased by 8 percent<\/strong> this year and continued to be +4 percent higher than the 10-city national average<\/strong> according to Kastle Systems. The week of 11\/13, mirroring pedestrian data, saw the highest weekly rate of the quarter and the entire year. Driving occupancy that week was the opening of downtown holiday attractions such as Christkindlmarket, the Chicago Tree Lighting, and downtown ice skating rinks.<\/span><\/p>

Retail
<\/strong>Holiday retail sales nationwide increased by 3 percent<\/strong> from 2022 according to MasterCard Spending Pulse, including a 2 percent increase for in-store purchases and 6 percent for on-line sales<\/strong>. Major city retail centers, like State St., continue to be top destinations for holiday shopping. Retail spaces on State St. benefited from a 10 percent pedestrian activity increase<\/strong> in Q4 from 2022, totaling 81 percent <\/strong>of pre-pandemic levels throughout the retail corridor.<\/p>

Transportation
<\/strong>Folks spending time commuting on public transportation may note a significant increase in ridership, particularly during peak periods. This increase is certainly reflected in quarterly office occupancy and pedestrian activity figures. On a regional basis, Metra reported a steady ridership increase<\/strong> throughout 2023, with Q4 seeing the highest figures post-pandemic at 56 percent ridership of 2019 levels<\/strong>.* Additionally, 24 percent<\/strong> more Divvy rides ended in the Loop in Q4 2023 than in 2020.<\/p>

Methodology
<\/strong>Sources for pedestrian activity provided by Springboard; arts and culture provided by Choose Chicago Cultural Index, Department of Cultural Affairs and Special Events and the Art Institute of Chicago; hotel occupancy provided by Choose Chicago; Metra and CTA provided by Regional Transportation Authority, Metra and Chicago Transit Authority; office occupancy provided by Kastle Systems; retail sales provided by MasterCard Spending Pulse; and shared mobility ridership data provided by Divvy to the Chicago Department of Transportation and Sam Schwartz.<\/p>

Sobre la Chicago Loop Alliance
<\/strong>Chicago Loop Alliance<\/a> (CLA)\u2019s mission is to lead the community by creating and supporting inclusive programs that attract people and investment to the Loop. CLA is a membership organization as well as the sole service provider for Special Service Area#1-2015, and the Chicago Loop Alliance Foundation produces public art projects and events. For more information, please visit LoopChicago.com<\/a>.<\/p>

###<\/p>","protected":false},"excerpt":{"rendered":"

Press contact: Ariella Gibson | Marketing and Communications Manager, Chicago Loop Alliance | Ariella@ChicagoLoopAlliance.com | 708-543-4002 MEDIA: View and download photos and videos here. SOCIAL:Instagram: @loopchicago   Facebook: @ChicagoLoopAlliance   Twitter: @ChiLoopAllianceLinkedIn: @Chicago-Loop-Alliance TikTok: @loopchicago FOR IMMEDIATE RELEASE | Jan. 23, 2024 CHICAGO\u2014Today, Chicago Loop Alliance (CLA) released its quarter four 2023 State of the Loop report on downtown activity, using a variety of data sources, which …<\/p>","protected":false},"featured_media":11048,"template":"","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"class_list":["post-2279","press_release","type-press_release","status-publish","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nHoliday festivities and downtown attractions drove end of year success across various sectors - Loop Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/loopchicago.com\/es\/press-releases\/holiday-festivities-and-downtown-attractions-drove-end-of-year-success-across-various-sectors\/\" \/>\n<meta property=\"og:locale\" content=\"es_MX\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Holiday festivities and downtown attractions drove end of year success across various sectors - Loop Chicago\" \/>\n<meta property=\"og:description\" content=\"Press contact: Ariella Gibson | Marketing and Communications Manager, Chicago Loop Alliance | Ariella@ChicagoLoopAlliance.com | 708-543-4002 MEDIA: View and download photos and videos here. 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