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Small Business
Hoops boon for small biz
March 15, 2001: 9:29 a.m. ET

Minneapolis restaurants, shops expect big crowds during Final Four
By Staff Writer Hope Hamashige
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NEW YORK (CNNfn) - Full staff at full steam is how most of the bars, restaurants and shops around downtown Minneapolis are approaching the Final Four, the championship weekend of games in the NCAA men's basketball tournament. They hope  the influx of fans will be a huge boon to business during an often-sluggish time of year. And sheer numbers seem to be on their side.

What do all those numbers mean? About 46,000 hard-core college basketball fans are going to be in Minneapolis for a long weekend starting March 31. And during the times there is no action on the court, they are probably not going to be strolling the frigid streets of the better-known half of the Twin Cities where the average high in late March is a blustery 39 degrees.

Hunker down in a warm, friendly restaurant

Norm Rogers is one of the many eager business owners who is hoping at least some of the basketball crowds will want to hunker down in a big, warm, graphicfriendly restaurant between games. Rogers, who manages Brit's Pub and Eating Establishment in downtown Minneapolis, said he will happily accommodate anyone looking for a warm meal in a comfortable spot.

"We're going to be making as much hay out of this as we can," said Rogers.

Rogers isn't the only one. Most of the bars, restaurants, shops and hotels are bracing for the big rush they hope will come from the Final Four crowds.

Less than a decade has passed since Minneapolis last hosted the Final Four and based on that experience the Greater Minneapolis Convention and Visitors Association is estimating the college hoops fans are going to sink about $50 million into the local economy during the tournament. Peter Hedlund, a spokesman for the association, said they expect the average tournament attendee to shed about $1,000 over the three days of the event on hotels, food and fun.

Click here for an NCAA tournament bracket

Already, most of the hotel rooms in Minneapolis have been snapped up. Of the city's stock of 25,000, less than 1,000 are still available for Final Four weekend. 

"This is one of the most coveted events for a city to host because of the spread of the tournament," said Todd Klingell, executive director of Minneapolis' Downtown Council. "Most people come in Thursday or Friday and there are four days of activity surrounding the event. This is not true of a one-day event."

Downtown getting gussied up

The Downtown Council has spent much time in the past few weeks talking to small business owners in the area about the basketball tournament and the potential it presents for them. If they don't already know about the tournament, the buzz about the Final Four will soon be swirling about them.

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  This is one of the most coveted events for a city to host because of the spread of the tournament.  
     
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  Todd Klingell, executive director
The Minneapolis Downtown Council
 
Before long, the streets of downtown Minneapolis are going to be awash in college basketball logos. Three hundred banners welcoming the hoops fans to Minnesota are about to be strung from the light posts in the downtown area. Downtown's famous "skyways," the hamster habit rail-like walkways connecting many of the buildings are about to get a treatment, too.

The skyways are going to be plastered with huge decals, more than 40 feet long and several feet tall, again welcoming the fans and the NCAA players to town.

"We are asking the businesses that are closed on Saturday nights and Sundays to consider staying open because there are going to be a lot of visitors," said Klingell.

Bars and restaurants ranging from the cozy to the swanky seem to be taking the suggestion to heart.

Rogers said his pub will be open throughout the tournament and he will keep parts of the restaurant open that normally shut down during the quiet months between January and April.

Goodfellas, an art deco gem in the heart of downtown, will serve fine diners on Sunday, the one day of the week it is traditionally closed.

John Stein, owner of Loon Café, just seven blocks from the Metrodome, remembers the last time Minneapolis hosted the Final Four. He'll staff up, to be sure, he said, because it is bound to be a busy time.

"It is absolutely going to be a boost for us," he said. graphic





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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.