2011 NBA All-Star Game to Bring at Least $85 Million to Los Angeles Economyby laliveinsider on Mon., Feb 14 at 09:00 AM
2/9/11 (Los Angeles, CA) - The 2011 NBA All-Star Game is returning to Los Angeles and the All-Star Weekend is expected to reap an $85 million economic benefit for the city according to an economic impact report provided by Micronomics, Inc.
\"We are so excited to welcome the NBA All-Star Game back to Los Angeles,\" said Mark Liberman, CEO of LA INC. The Los Angeles Convention and Visitors Bureau. \"The exposure that this event brings for the city in terms of television coverage and tourism is unbelievable.\"
The NBA All-Star Game was last held in Los Angeles in 2004 and the city's venues, hotels and restaurants are welcoming the event back with open arms.
\"Marquee events like the NBA All-Star Game provide a welcome boost to the local community, especially during this time of economic recession,\" said Micronomics, Inc. President, Roy Weinstein.
Los Angeles-area hotels are gearing up for the NBA All-Star Game and the influx of room nights that the big event will draw. The NBA has contracted over 20,000 room nights in local hotels for its staff, guests and partners.
\"The hotel can certainly attribute a significant amount of its February revenue to the NBA All-Star Game being played in Los Angeles this year,\" said David Horowitz, General Manager, Hyatt Regency Century Plaza. \"Beyond the group block of room reservations, it is anticipated that there will be significant ancillary revenues from the hotel's restaurants and bars.\"
Local hotels are seeing both the short-term and long-term benefits of hosting an event of such high caliber as the NBA All-Star Game.
\"The business opportunity presented by the NBA All-Star Game is not only of immediate significant impact, but is one more indication of the ability for Downtown Los Angeles to attract high profile events, generate global media coverage and further add to our justified position as a world class destination,\" said Ian Gee, General Manager, Sheraton Los Angeles Downtown Hotel. \"We look forward to welcoming the players, the media and the fans and believe that our role as host of these festivities will serve us well as we continue to develop relationships with new clients.\"
Of the total revenue generated, $60 million is expected to come from visitors attracted to Los Angeles to attend NBA All-Star Weekend events. The influx of out-of-towners means more money will be spent on area hotels and lodging, transportation, food, beverages, entertainment and shopping. Increased economic activity from local residents and businesses is expected to generate an additional $25 million.
The Micronomics, Inc. economic impact report highlighted contributions that are not easily quantified, such as television coverage depicting the city as a congenial, warm weather tourist destination during winter, exposure to the Los Angeles market of leading business executives and others who attend the Game, and the NBA's tradition of organizing local community service projects in connection with NBA All-Star weekend.
The 2011 NBA All-Star Game will be held at the STAPLES Center on February 20, 2011 at 5 p.m. The 60th All-Star Game will feature local stars Kobe Bryant and Pau Gasol of the Los Angeles Lakers as well as the Los Angeles Clippers rookie and first time All-Star, Blake Griffin.
NBA All-Star 2011 also includes the T-Mobile Rookie Challenge & Youth Jam, All-Star Saturday Night presented by State Farm and NBA All-Star Jam Session presented by adidas. Jam Session is an interactive fan experience open to the public from February 18 - February 21, 2011 at the Los Angeles Convention Center.
In addition, 2011 NBA All-Star will include the NBA Cares community program which will focus on building and enhancing three Los Angeles community sites that help residents \"live, learn and play.\" NBA Cares will be partnering with Rebuilding Together at the Theresa Lindsay Center, City Year at Virgil Middle School and KaBOOM! at Frederick Douglas Elementary School.
About LA Sports & Entertainment Commission
LA Sports & Entertainment Commission is the official organization for the City of Los Angeles to seek, host, promote and retain major sporting and entertainment events that positively impact the local economy. Created in 1995, LASEC is a private, non-profit organization and an affiliate of LA INC. The Los Angeles Convention and Visitors Bureau.
Micronomics is a leading Los Angeles economic research and consulting firm engaged in the collection, tabulation and interpretation of complex financial, economic, and statistical data. It provides litigation and business consulting services in a wide range of practice areas and industries, including antitrust analysis, valuation of intellectual property, calculation of economic damages, wage and hour litigation, and sports and entertainment economics. Its clients include law firms, publicly and privately held businesses, and government agencies.
The study, \"Economic Impact of the 2011 NBA All-Star Game on Los Angeles County,\" is available at http://www.micronomics.com.
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