COVID-19 Hits McCormick Place Hard With Lost Revenue
CHICAGO (CBS) -- All the lost convention business due to the coronavirus has cost Chicago's economy more than a billion dollars.
And that's just at McCormick Place.
In May, the CBS 2 Investigators reported McCormick Place would be open this month for conventions. But during a pandemic, things definitely change – and indeed McCormick Place is not open for any such thing.
Last month, nine major events canceled plans to be at the convention center. Those events could have brought in an estimated over $176 million dollars for the city. As of July 11, 136 McCormick Place meetings were either canceled or postponed.
The economic impact? More than $1.6 billion dollars. Hotels also suffered, with over a million room nights lost.
Twnety-three out of the 35 companies and organizations listed on the McCormick Place website do plan to host their conventions there, between November of this year and July of 2021.