The Holiday Inn Express Chicago O’Hare Airport is an attractive opportunity to acquire a hotel located just across the street from the O’Hare Airport. This Hotel was built in 2019 and is the newest product in the market which is shown with the Hotel being two out of seven in its competitive set for RevPAR as of the June 2023 TTM.
The Chicago O’Hare airport was named the fourth largest airport in the world in 2022 for passenger volume. With a steady return to pre-pandemic levels, the airport had over 68 million passengers pass through the airport in 2022 and a 10% increase in YoY passenger volume as of the June 2023 and 2022 YTD.
The Hotel not only receives business from the Airport, but its location in metro Chicago (Chicagoland) has also proven beneficial. Over two dozen Fortune 500 companies are headquartered in the Chicagoland area, spanning a variety of sectors and industries, including finance and food services. Over the last ten years, over 30 headquarter offices have relocated to Downtown Chicago, with Google on the way. Chicago has been ranked the top metro in the country for corporate investments for nine years in a row, by Site Selection magazine.