It has big business and financial implications – CBS New York

New York (CBSNewYork) – Great Whiteway and surrounding businesses Pandemic shut down.There was no business when the theater was unaffected Forced to closeAffects hundreds of thousands of jobs, and billions of dollars.

As CBS2’s Corey James reports, the reopening of Hamilton’s Broadway is more than just a boon to theater enthusiasts. This musical alone is a billion-dollar franchise, and we hope to bring people back to the theater district and help all the companies in the region to recover the economy, which is highly needed.

read more: Broadway returns with a variety of voices on and off the stage: “This is just the beginning.”

Broadway It’s a business that is soaked in art, but it survives in numbers. please think about it. There are 41 theaters on Broadway. In 2019, more than 14 million people spent nearly $ 2 billion on tickets alone.

Shutdown on March 12, 2020 About 97,000 people were unemployed and the spillover had a devastating impact on neighboring companies.

“The relationship with the Theater District is an important part of the hotel in the heart of all Broadway shows. Opposite“ Chicago ”. “It’s right next to the Book of Mormon,” said Layer Cohen, general manager of The Time New York, a 192-room boutique hotel that was forced to close during the pandemic.

“It was really painful to shut it down, but it opened and reopened on June 25, 2021. I was really happy and surprised by the amount of bookings from the returning guests,” Cohen said. increase.

During the 15-month shutdown, more than 50% of the staff were fired. For guest service agent Howard Singh, that meant economically lean time.

Web Extras: Reopening dates for various Broadway shows

“With government support, and as you know, we are also responsible, financially responsible, and together we have made it possible for us to float,” Shin said. ..

He says he was excited to receive the call that recalled him.

“I am delighted to be back in this family, including the hotel management, colleagues and guests. I know we are very grateful,” Shin said.

Time New York currently occupies about 51%.

Overall, hotels account for about 64% of the 90% in September 2019, according to the New York Hotel Association. The average room rate is $ 140 compared to $ 273 for the same period. But in the case of a hotel, it’s more than just occupying a room.

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“We really had an opening party for Broadway plays,” said Nathan Goodman, vice president of sales and marketing for the Dream Hotel Group in Time New York. “After the show, we held countless cocktail receptions and things. We pressed. [events] For many other Broadway plays. So this is a big part of the very community-driven situation here in Midtown. “

Goodman says the signs of life are financially and emotionally positive

“Just by looking at it, leisure travelers walk around and have breakfast. So that they can see some of the students attending offices that have already reopened. It’s a big indication that the city is really starting to revive. It’s a big, big indicator, and I think Broadway really puts an upper limit on excitement, “he said.

This excitement is certainly felt by the Theater District restaurants. William Gallagher is Becco’s Executive Chef.

“What about this moment on Broadway’s return?” James asked.

“Great, happy mood. I’m back. Bruce is back in July … he helped us. And now, at this opening on September 14, we’re actually It’s open that day, five days before, but now it’s open for six days, “says Gallagher.

April 2020, Times Square It decreased by 90% to about 33,000 people per day. Recently it has exceeded 250,000.

one Theater District The garage went from nine employees to four and was closed on weekends. They hope that this resumption means more business days and will return workers for them.

But in the end, it comes down to filling people, vaccinations, restaurant seats, hotel rooms, and perhaps most importantly, theater lines.

“I saw the waitress last night and I wanted to see it again tonight,” said David Owns of Allentown, Pennsylvania. “We love Broadway.”

“I’m an actress, so my life. It’s in my blood. But it wasn’t clear, because everything in the theater brings you to life, right?” Victoria Hale said.

Other news: Broadway reopening means returning to work for thousands of New Yorkers: “We all … missed this very much.”

Another number to consider is: Taking all this business into account, Broadway has donated an estimated $ 14.66 billion to the New York City economy during the 2018-19 season.

It has big business and financial implications – CBS New York

Source link It has big business and financial implications – CBS New York

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