‘Francis Festival Grounds’ businesses aren’t terribly festive, post-Pope
What do you get when Homeland Security co-hosts a “pathological” party in downtown Philadelphia? Not much of a party for the local economy, it seems:
City Controller Alan Butkovitz today released his latest monthly financial report that indicated economic activity was less than half compared to a normal weekend for restaurants and retailers impacted by the Papal Visit.
The Controller’s report isn’t terribly surprising, however — particularly for business owners (like Willy below, who resorted to setting up a serving area beside his storefront due to lack of patronage), or almost anyone who took a stroll through Center City last weekend.
The World Meeting of Families estimated an economic boon of $500 million for our economy (while selling papal pilgrims meals for $125 a pop). And Mayor Nutter predicted approximately $420 million late last week —then promptly forgot yesterday.
Who were the biggest winners?
Hotels were the largest beneficiaries with occupancy rates in the upper 80 to low 90 percent rate.
Read the press release and accompanying report below:
