Streams

Parade Is Big Business for Seventh Avenue

Thursday, November 25, 2010

For the second year in a row, the Thanksgiving Day Parade will proceed down Seventh Avenue. The parade was re-routed from Broadway after changes to the streetscape there.
Now, businesses along the new route are asking the city to make it permanent.
Tim Tompkins is President of the Times Square Alliance. He says the TV cameras and crowds are an enormous benefit to hotels, shops and...billboard owners.
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[there's more and more giant LED signs there, American Eagle has just put up a huge one, Aeropostale, and part of the reason why people pay very significant rents is the enormous visibility.]
Hotel rooms along the route also fetch a premium on this day....the Hotel Association of New York City has said changing taking the route to 6th avenue would mean a loss of 40 million dollars because there are fewer hotels there.
City Hall hasn't said what course the parade will take in 2011.
For the second year in a row, New York's Thanksgiving Day Parade will proceed down Seventh Avenue. Last year, the parade was rerouted from Broadway after changes to the streetscape there and businesses along the new route are asking the city to make it permanent. One thing is constant, however. The parade always ends at the doorstep of its sponsor, Macy's, on 34th Street.

Tim Tompkins is President of the Times Square Alliance. He says the TV cameras and crowds are an enormous benefit to hotels, shops and billboard owners along the route.

"There's more and more giant LED signs there, American Eagle has just put up a huge one," Tompkins said. "Part of the reason why people pay very significant rents is the enormous visibility."

Hotel rooms along the route also fetch a premium on this day. The Hotel Association of New York City has said changing taking the route to 6th Avenue would mean a loss of 40 million dollars because there are fewer hotels there.

City Hall hasn't said what course the parade will take in 2011.

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