Sports Business a Slam Dunk for Albany
ALBANY, NY - The Albany County Convention & Visitors Bureau (ACCVB) is preparing to welcome more than 40,000 visitors to Albany throughout March for NCAA, MAAC, and Federation basketball tournaments, which will bring more than $3.5 million in estimated spending to the area.
The Times Union Center arena will host the MAAC Men's and Women's Basketball Tournament, March 5 - 9, and the NCAA Division I Women's Basketball Championship Regional, March 25 - 31. The University at Albany's SEFCU Arena will play host to the Federation Tournament of Champions, March 27 - 29. Based on a successful season thus far, the SEFCU Arena may also host the America East Men's Basketball Championship in early March. This tournament could bring more than 11,000 attendees and an estimated $595,000 in spending to the area, in addition to the $3.5 million figure.
According to the Destination Marketing Association International (DMAI) Event Impact Calculator, a tool that measures the economic value of an event and calculates its return to local taxes, these events will account for about:
• 4,700 room nights at area hotels throughout Albany County;
• $2,175,000 in direct spending at hotels, arena facilities, etc.;
• $1,380,000 in indirect spending at gas stations, restaurants, etc.;
• $268,000 in local tax revenue for Albany County.
"These are three prime examples that show the impact sports business has on our economy and our community," states Michele Vennard, President/CEO of the Albany County Convention & Visitors Bureau. "Albany County hosted 45 local, regional, and national sports related events throughout 2014 accounting for a total economic impact of nearly $19 million."
"Our SMG management staff here at the Times Union Center along with our community partners, the ACCVB have worked closely with the MAAC and the NCAA Championship Committees over the years. The MAAC Men's & Women's Basketball Championships and the NCAA Division I Women's Basketball East Regional Championship are major extremely popular collegiate sports championships. The last time Albany hosted the MAAC more than 52,000 fans attended. We expect more than 10,000 fans to pack the arena to see the NCAA Women's Basketball East Regional played right here in Albany. The East Regional Champion goes right to the Women's Final Four," said Bob Belber, SMG Regional General Manager of the Times Union Center & Albany Capital Center.
Throughout the year, the Albany area will welcome more than 245 meetings and events to area hotels and conference centers.
About the ACCVB:
The Albany County Convention & Visitors Bureau, Inc. was established in 1976 to promote the civic and commercial progress of the community through increased development of conventions and tourism. ACCVB currently represents more than 300 member businesses and assists each year in hundreds of regional meetings. ACCVB also operates the Albany Heritage Area Visitors Center, Henry Hudson Planetarium, and the Albany International Airport Information Center. For more information, call 518-434-1217 or 800-258-3582 or visit www.albany.org.