With the Staples Center area transformed with the addition of high-end hotels and the L.A. Live complex, one forecast estimates the NBA All-Star weekend will generate more than $85 million in spending.While merchants in Texas count their profits from Super Bowl XLV, downtown Los Angeles business owners are hoping for a big score from their own high-profile sporting event next weekend.
Downtown businesses expect to reap hefty profits when the NBA All-Star weekend rolls into Staples Center, drawing thousands of big-spending celebrities, professional athletes and die-hard hoops fans for four days of basketball, dinners and parties.
Although Los Angeles hosted the annual basketball celebration seven years ago, economists predict this year's event will generate even more profits. Now, visitors are expected to spend throughout the city but particularly at the trendy clubs, shops and restaurants at the L.A. Live entertainment complex and the 54-story JW Marriott and Ritz-Carlton hotel tower built next to Staples Center over the last three years.
Posted By: DAVID JOHNSON
Monday, February 14th 2011 at 9:32PM
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