Steve Grzanich has the business news of the day with the Wintrust Business Minute.

A popular doughnut shop has plans to open in Chicago. Voodoo Doughnut started in Portland 20 years ago and has developed a loyal national following. Crain’s reports the Chicago location is planned for 945 W. Randolph in Fulton Market. It’ll be the chain’s 21st U.S. store and the first in the Midwest. It could open as early as next year. Voodoo Doughnut has a line up that includes 50 different creations. One of the more popular is the Bacon Maple Bar, a doughnut bar with maple frosting and bacon.

Also, a new report says hotel rates in major global cities are about to increase by double digits. Listen for more below: