Possible Positive Economic Impact From Made In America
By Mike Dougherty
PHILADELPHIA (CBS) – The true economic impact of the Made In America concert won’t be known for a few weeks, but the concert is already proving profitable for hotels in the city.
PHOTOS: Made In America Festival
People tend to spend their time and money at the shore or in the mountains on holiday weekends, while hotels in the city normally struggle to fill rooms. Ed Grose, executive director of the Greater Philadelphia Hotel Association says “Made In America” is turning a weakness into a strength.
“A two-day concert, where people might be inclined to rent a room, it’s a big help for us,” Grose explains.
And Grose says there is significant trickle down as a result of higher occupancy rates.
“When there’s more rooms rented over a normally slow weekend, such as Labor Day, it’s gonna mean more hours for the front line employees.”
That means even more money being pumped back into the local economy.