It’s a trend that doesn’t appear to have an end in sight—another hotel is being planned for downtown Chicago. Unlike other recent hotel news, however, this latest project is a bit more unique in that it will be built directly on Navy Pier.
Being developed and operated by Chicago-based First Hospitality Group, which already owns 19 hotels in Illinois, the new Navy Pier hotel project will stand 5 stories high and house 200 rooms when finished, which should certainly add another notch in the belt of Mayor Emanuel’s plan to bring 55 million visitors to Chicago annually by 2020.
Plans call for the hotel to be built next to Festival Hall at the end of the Pier, and for the first time ever, tourists will actually be able to stay at Navy Pier, which certainly has its benefits if you plan to be visiting the city from out-of-town. The estimated cost of the new Navy Pier hotel is expected to be around $90 million, however, all of that money will be privately financed and not drawn from taxpayer money.
Recent statistics revealed more than 8 million people visit Navy Pier every single year, and with numerous enhancements already in the works for the most visited tourist attraction in the Midwest, a new hotel here should fit in well.
According to the Mayor’s office, construction for the new Navy Pier hotel should begin in 2017 and be totally finished towards the second half of 2018.