NCAA Tournament weekend generates $4.2M for Triangle economy
Posted April 23, 2014
Raleigh, N.C. — Second and third-round NCAA Tournament games held in Raleigh's PNC Arena helped generate more than $4 million, according to the Greater Raleigh Sports Alliance.
About 17,000 people visited the Triangle during the first full weekend of the NCAA Tournament.
"As we expected, the 2014 NCAA Basketball Tournament proved to be a tremendous event for the Raleigh area on many levels," Scott Dupree, executive director of the Greater Raleigh Sports Alliance, said in a statement. "Not only did the tournament create $4.2 million in visitor spending, but it also generated an enormous amount of positive exposure and visibility for this region."
Total attendance for the three sessions at PNC Arena was 53,172. A zip-code study showed that 71 percent of ticket-buyers were from outside of the Triangle. Fifty-nine percent of ticket-buyers were from out of state.
Visiting fans accounted for more than 10,000 hotel room nights during the weekend.
A Smith Travel Research Report showed that hotel occupancy rates during the tourney weekend in Raleigh were 20.3 percent higher than the same weekend in 2013.
The Greater Raleigh Sports Alliance is a division of the Greater Raleigh Convention and Visitors Bureau.