A new 1,200-room headquarters hotel scheduled to open next to McCormick Place in Chicago will be a Marriott Marquis. Late last week, the Metropolitan Pier & Exposition Authority (MPEA) board approved a bid by Marriott to operate the hotel it will build near the West Hall of the center.
The hotel, scheduled for completion by late 2016, will face Michigan Avenue and be connected to West Hall by a sky bridge. It will join the existing Hyatt Regency McCormick Place, which completed a major expansion early this summer that gave it a total of 1,200 rooms as well. The Hyatt is at the southwest corner of the McCormick Place campus and is connected to the Grand Concourse.
The Marriott Marquis is the first step in a massive redevelopment project around the convention center that the MPEA, the city of Chicago and private-sector players will eventually spend nearly $1 billion on.
It will include a 10,000-seat events center, also connected to McCormick Place West by a sky bridge, that will serve as a general session hall for tradeshows and conventions, as well as a second 500-room hotel and a number of restaurants.
“These hundreds of additional hotel rooms will strengthen our competitive edge and help us attract new business to Chicago,” says Chicago Mayor Rahm Emmanuel in a statement.
Authority officials say Hyatt and Hilton Hotels both made bids to operate the hotel, but that Marriott’s was the most competitive. The MPEA will pay about Marriott about $13.6 million in today’s dollars over 10 years.