Ilya Marritz covers business for WNYC.
Parade Is Big Business for Seventh Avenue
Thursday, November 25, 2010
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.