INDIANAPOLIS — All-Star Weekend has come and gone but the lasting economic impact will likely be felt for years to come.
Visit Indy says the projected $320 million was likely met, if not succeeded with the revenue brought in during the weekend.
"From a tourism perspective we're ecstatic at how the weekend unfolded. We are ecstatic about the social media banter from visitors, from international media. We're ecstatic about the economic impact that our city has felt and will feel for the last four days," Chris Gahl, the executive vice president of Visit Indy said.
While total numbers from the weekend will likely take some time to compile, Visit Indy and Pacers Sports & Entertainment says they are hopeful.
"The projected economic impact was about $320 million, which includes about $60 million of earned media value for the city and state. We expect, given how the weekend went and the number of people we saw around downtown, participating in events and activation, that that number could be even higher when all is said and done," Danny Lopez, from Pacers Sports & Entertainment said.
Visit Indy also says hotel numbers are still rolling in, but they are optimistic for that added revenue.
Gahl says Marion County hotels were virtually sold out for 4 nights and could command rated double/triple what a normal weekend goes for without an event of this magnitude.
"Supply and demand was in full effect and our hotels were virtually sold out in downtown Indianapolis. We saw strong compression around Marion County around the metropolitan statistical area. We have reports that visitors were checking in as far north as South Bend, as far south as Bloomington. We know the Airbnb listings in Marion County were virtually taken," Gahl said.
Gahl says the lasting impact from the 4 day event is something they're proud of.
"It's a sense of pride from a tourism perspective," said Gahl. "When you look at the total footprint. The number of arrivals via car vs via plane coming through the airport. All numbers are trending in the right direction."
To local business owners like Otis Brown, it was an opportunity he says he won't ever forget.
"Once in a lifetime. It was big, it was big. I'm just grateful for the opportunity," Otis Brown said.
Brown is the owner of Indianapolis barbershop, Circle City Cuts.
He got a chance to have a barbershop spot inside the NBA Crossover event.
"I met a lot of different people. Just people that you don't talk to on an every day basis. That was a big thing. I don't know it was a blessing, it's all a blessing," Brown said.
He and his team cut hair for hundreds of people throughout the weekend — from general managers, behind the scenes staff, even gaming icon Ronnie 2K.
But the conversations in the chair will stretch beyond the four day event.
It's new faces that will become returning customers.
"Everybody that sat in my chair I said 'hey I have a business around the corner if you're local'," Brown said.
Brown along with many local businesses say All-Star weekend made good projections for business moving forward.
Visit Indy says they should have a full economic report from the weekend in the coming months.
Indy isn't done for the year either.
The city is already gearing up for the NFL combine which starts next week.
"We celebrate the win. We take down the decals and all the signage, and next Monday at this time the NFL moves into the convention center," Gahl said. "While we celebrate the NBA in this win, we have to quickly make sure we welcome the NFL for the combine. Which will have 1,000 credentialed media from around the world. Which will have all the NFL owners, all these prospective players."
Visit Indy says this year is a big one, and they're excited for the economic impact projected through the entire year.
