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Even as the New York Giants land in Indianapolis on Monday to battle the New England Patriots, the team's hometown is getting pumped for a game that's a couple of years away.
The 2014 Super Bowl, hosted by New York and New Jersey, will be the biggest sports event to ever hit the metropolitan area and it is already proving to be an economic bonanza. Companies have begun plunking down big money to be part of the buzz. They are paying deposits to secure their place in line to get large blocks of tickets to the game and spaces for exclusive parties, while hotels and other hospitality-related businesses are in discussions with their top clients about hosting their events and lodging their guests.
An estimated 400,000 visitors will participate in the weeklong Super Bowl festivities, generating nearly $600 million in spending, according to the Sports Management Research Institute. Just 82,500 of those visitors will actually have a ticket to the game at MetLife Stadium in East Rutherford, N.J. The rest will be spending their money around town at any number of festivities.
Hundreds of millions of dollars will flow to local hotels, bars, restaurants, museums, theaters and entertainment venues. The Mandarin Oriental hotel is already strategizing about how its 6,000-square-foot event space will be utilized. ... Read More
Date: January 29, 2012
Source: Crain's New York