[Media] Detroit News 3.29.07 Event to jump-start Detroit tourism

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Thursday, March 29, 2007

Event to jump-start Detroit tourism

Estimated $25M boost small compared to marquee shows but area welcomes
business.

Eric Morath / The Detroit News

Pro wrestling rebounds after being slammed

WrestleMania 23 will pump up downtown Detroit tourism during a
typically slow time of year, but the Sunday event won't have close to
the same economic impact as All-Star games, Super Bowls and other
marquee events.

The throw-down in Motown is expected to generate about $25 million in
total economic impact, estimates David Sowerby, chief market analyst
and portfolio manager for Loomis, Sayles & Co. in Birmingham.

That's less impact than the 2005 Major League Baseball All-Star Game,
which generated $42 million in regional economic benefit, and doesn't
hold a candle to international draws such as Super Bowl XL and the
2007 auto show, which drummed up $261 million and $540 million,
respectively.

"It's not as meaningful of an impact," Sowerby said. "(But) for the
city, it is a net plus because this potentially brings participants to
the city that may not ordinarily come to the city."

He and other analysts also note that impact from any event is small
compared to major infrastructure upgrades or attracting a large
employer.

Still, hotels welcome the boost, especially as WrestleMania arrives
during a slow tourism period -- between the auto show and Tigers
weekends.

"We're expecting to be almost completely booked," said Matt Jones,
marketing director for the Detroit Marriott at the Renaissance Center,
the host hotel for the event. For the same weekend last year, the
hotel had 35 percent occupancy.

Another big winner is Ford Field. Expecting to fill 70,000 seats, the
venue is proving that it can pack the house for more than just
football games, said Mike Dietz, president of Dietz Trott Sports and
Entertainment.

In recent years, WrestleMania has been held in basketball arenas, not
football stadiums.

"WWE took a risk going to a venue this large, but Ford Field
delivered," he said. The payoff will not only come with ticket sales,
but in merchandise and concessions.

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