(The Center Square) – Men’s NCAA tournament basketball games played at Denver’s Ball Arena this week are projected to boost the metro area’s economy by millions.
Attendees to March Madness games the city is hosting could generate from $13 million to $23 million in gross domestic product for the metro area, according to estimates by the Common Sense Institute, a free-enterprise think tank.
“The NCAA March Madness Tournament is a significant driver of economic activity for any city fortunate enough to host the event,” DJ Summers, CSI’s director of communications and research operations, said in a statement. “With millions of dollars in consumer spending and increased business for local hotels and restaurants, March Madness is set to provide a much-needed boost to Denver’s economy.”
Ball Arena is hosting four first round games on Thursday and two second round games on Saturday.
CSI’s report used consumer spending from when Denver last hosted tournament games in 2023 to project the economic impacts. It estimates spending of at least $4.91 million on lodging, $1.86 million on transportation, $2.31 million on food/beverage, $1.37 million on retail and $1.46 million on recreation.
For the report’s analysis of hotel spending, CSI looked at nightly rates for rooms at 13 hotels closest to the basketball arena, noting an estimated 800 rooms booked each of the nights before games.
For Wednesday night, the night before games start, hotel prices were on average 18% higher. For March 21, the night before the second round of games, rates were on average 40% higher.
“While it is possible other events in the city may contribute to some of the demand, the tournament games remain the primary factor behind these price increases,” CSI said.
