Taste of Chicago loses money despite million visitors

CHICAGO - Officials say stormy weather caused the Taste of Chicago to lose money this year.

Mayor Rahm Emanuel's administration says the annual food festival lost $169,404. A year ago, the festival turned a $272,000 profit.

Although the five-day festival lost a day because heavy rains, it attracted 1.1 million people and generated $5.46 million in overall revenue.

Despite the financial losses, Cultural Affairs and Special Events Commissioner Michelle Boone says the new Taste of Chicago model "is proving successful as tourist draw for the city and a benefit to business activity."

The festival was reduced to five days from ten after six years of losses and bumped to mid-July from its previous time around the July 4th holiday. Also the number of participating restaurants was reduced.