Lodging & Hotel

The Drake, located on the Magnificent Mile, has 535 rooms and more than 200 feet of retail frontage.

REIT total returns are now up more than 25 percent year-to-date as their strong bounceback year continues.

City hotels sold more than 481,000 room nights last week, a 17,000 increase from the week prior.

The cost of hotel and motel accommodations in the U.S. surged 7.9 percent in June from a month earlier, the second-largest gain on record, according to the Labor Department.

The private equity firm’s second dedicated property fund has raised $2.2 billion for investment in European apartments, warehouses and hotels.

Leisure hotels are leading the recovery in the hotel sector with high occupancies and average daily rates.

For the week spanning June 1-8, the state saw 2,000 more arrivals than it did in the same period in 2019. But it’s facing a shortage of hospitality workers.