Can Portillo’s grow while staying true to its roots?

Chicaao Tribune WORKING LUNCH Tuesday, October 1, 2024 It's lunchtime, Chicago. Ten years after Dick Portillo decided it was time to sell his hot dog empire in a private equity sale, the Portillo's chain stands at 88 restaurants strong, with an ambitious plan to expand far beyond its Chicagoland home base. Over the next two decades, Portillo’s hopes to grow nearly 1,000% to more than 900 outposts nationwide, taking Italian beef and Chicago-style hot dogs to, it hopes, every U.S. state. But as it continues to grow from beloved homegrown hot dog joint to national restaurant chain — while balancing the expectations of its devoted local fan base — Portillo’s has found itself at a crossroads. Meanwhile, the Democratic National Convention and other high-profile events helped boost Chicago hotels to record revenue this summer. Visitors to Chicago booked 3.4 million hotel rooms from June through August, up 5% over last summer, according to data released Tuesday by Choose Chicago, the city’s tourism arm. Read that story and more in today's Working Lunch. Get news alerts | Top business stories | Real estate DOG DAYS: WITH PLANS FOR AN AGGRESSIVE EXPANSION AND AN ACTIVIST INVESTOR ONBOARD, CAN PORTILLO’S GROW WHILE STAYING TRUE TO ITS ROOTS? The activist investor wants Portillo’s to make key changes, building smaller restaurants and more intentionally building brand awareness outside Chicago. Read more → FROM LOLLAPALOOZA TO THE DNC, SUMMER EVENTS BOOST CHICAGO HOTELS TO RECORD REVENUE The increased demand generated $942 million in revenue for Chicago hotels and $53 million in city tax revenue. Read more → CBS 2 ADDS 3D VIRTUAL REALITY FORECASTS, BRINGING CHICAGO’S UNPREDICTABLE WEATHER TO LIFE In an evolution of the green screen, with which weather forecasters point at computer-generated maps and images, the new technology turns the entire studio into a green room, enabling a three-dimensional view. Read more → CITY ALLOCATES $75 MILLION IN BOND FUNDS TO MARKET RATE HOUSING INITIATIVE ON SOUTH AND WEST SIDES The program will start with 44 vacant city-owned lots being offered to developers for $1 each. The lots have assessed values ranging from around $4,000 to nearly $50,000. Read more → DEERFIELD-BASED BAXTER TEMPORARILY CLOSES ITS LARGEST PLANT FOLLOWING HURRICANE, RAISING QUESTIONS ABOUT SUPPLY OF MEDICAL SOLUTIONS Baxter said it will provide an update, as soon as it is able, about when it plans to resume production. Read more → Copyright © 2024 Chicago Tribune 1000 Albion Avenue Schaumburg, IL 60193-4549