Press Release: Hotel Rates Soar in Chicago as New Year’s Eve Looms
December 28, 2011 
Ringing out 2011 in Chicago is going to put a strain on the wallet of last-minute travelers. A new survey compiled by ChicagoHotels.org has found that rates for available hotel rooms in the Windy City for New Year’s Eve have risen strongly.

With less than a week left to the year, 50% of Chicago hotels are posting no vacancies this December 31. Accommodations are still available in Chi-Town, however, that will allow visitors to ring in the New Year there …with one caveat: They’ll cost guests significantly more than usual.

The Crowne Plaza Hotel, for instance, has hiked its nightly rate by 134%. This 4-star establishment located just one-half block from the Magnificent Mile usually goes for $98 per night. On New Year’s Eve, however, it will cost people who are staying there $229.

The Belden Stratford Hotel, a comparable 4-star accommodation, is gouging guests even more. Conveniently situated across from Lincoln Park, it has increased its typical $99 rooms to $275 for New Year’s Eve. That price spike represents an almost 180% augmentation.

Travelers seeking to stay anywhere in or even close to the Magnificent Mile will pay $200 or more for the privilege. There, the average rate increase is a substantial 65%. Not all Chicago-area hotels are playing the New Year’s Eve Grinch, though.

The Loop District, for example, still has rooms available that are a more modest 40% above average. A room can still be had there for a reasonable $130 on the last night of the year. The River North neighborhood also still has rooms listed at a moderate 45% overnight surcharge. That figure is below the 55% average rate increase for all available hotel rooms analyzed by the survey.

The following table shows the ten hotels with the biggest rate increases for New Year’s Eve in Chicago.

Name of Hotel Stars Location Regular Rate New Year's Eve Rate
Belden Stratford 4.0 Lincoln Park $99 $275
Crowne Plaza Hotel 4.0 Magnificent Mile $98 $229
Comfort Inn & Suites Downtown 3.0 The Loop $89 $189
Chicago's Essex Inn 3.0 The Loop $99 $199
Hilton Suites Chicago 3.5 Magnificent Mile $104 $209
Palmoar Chicago 4.0 Magnificent Mile $118 $220
The Allerton Chicago 4.0 Magnificent Mile $139 $249
W Chicago City Center 4.0 The Loop $109 $199
Hotel Indigo Chicago 3.5 Gold Coast $149 $257
Affinia Chicago 4.0 Magnificent Mile $144 $236
About the survey:
The survey was conducted on December 28, 2011. Available hotels in Chicago and their rates for the cheapest available double room on New Year’s Eve were established based on a search of the leading hotel-booking sites: Expedia, Priceline and Orbitz. For comparison, the rates for the same rooms from January 7 to 8 were established and determined as “Regular Rates.”
Magnificent Mile
Lincoln Park
O'Hare Airport
The Loop
River North
Navy Pier
Wrigley Field
Union Station
United Center
Grant Park
Soldier Field
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