chi-mccormick A greater ability to attract conventions to McCormick Place will be key to filling up the city’s thousands of new hotel rooms.

CHICAGO—The Chicago region’s hospitality market has had a good run in the past few years. Recently, however, some have voiced concern that, similar to the apartment market, perhaps too much new development was underway. And there certainly has been some pressure on occupancy levels. But according to a new report from Marcus & Millichap, by other metrics, such as growth in the average daily rate, the hospitality industry in Chicago and Midwest still looks healthy, and these trends are likely to continue for the rest of 2017.