It’s a slam dunk for sales!
The New York Knicks injected new life into the city’s bar economy, as more than half of NYC watering holes reported an at least 20% increase in revenue during the team’s NBA Finals run, according to a new survey released by the New York Hospitality Alliance.
The industry report, released Wednesday, surveyed roughly 100 businesses across bar, restaurant and nightlife sectors – with a whopping 90% of eateries reporting increased sales and 70% noting increased staffing during the Knickerbockers’ electric playoff and Finals run.
“When there’s a lot of enthusiasm and people are feeling excited and good, they’re out, they spend more – and I think that’s overall beneficial,” Andrew Rigie, executive director of the New York City Hospitality Alliance, told The Post.
“So much of the soul of New York City and sociability happens in our city’s bars and restaurants, and it was so great for the bars and restaurants to be front and center in allowing people to experience this historic Knicks playoff run,” he added.
More than half of Big Apple watering holes showing Knicks games reported increased sales by more than 20% on game days – including nearly one-third of businesses that saw those sales skyrocket to more than 30%, according to the report.
To keep up with demand, nearly 30% of the surveyed businesses bought televisions or upgraded equipment. Operators also extended hours, hosted watch parties, created game day promotions and boosted inventory to cater to the crowds, Rigie said.
Aside from new hires – which are expected to be sustained through the World Cup, per Rigie – many businesses also added shifts for existing bartenders and outsourced third-party security guards.
“It was unbelievable: I’ve been in this business for 30 years, and I’ve never seen anything like this,” said Martin Whelan, owner of Stout, a string of sports bars in Manhattan.
“There were lines out the door every night,” he said, reporting a revenue increase of as much as 200% at some locations and a 1,400-person waiting list at one Penn Station outpost during the playoff run.
“Everybody worked crazy hours – servers were turned into bartenders, everyone had to chip in.”
Ian Conroy, who has owned Mustang Harry’s with his brother Niall since 1995, said his sports bar has seen a 60% surge in business since the playoff spot clinch.
“It’s been unprecedented,” said Loy Gordon, owner of Neir’s Tavern in Woodhaven, Queens. “Neir’s Tavern is not necessarily a sports bar, but it was like we were a sports bar.”
The small, nearly 200-year-old bar made upwards of $20,000 to $30,000 in additional, unexpected revenue during the playoff run, Gordon estimated: “The only problem that we had was having people outside trying to watch through the door because we were full. It was a good problem to have.”
The news comes after the city announced the postseason run, as of Game 3 alone, had generated an estimated $202 million between tickets, concessions, merch, transit and lodging during home games played.
The games were poised to rev up to $465 million for the Big Apple, according to estimates in early June released by the Economic Development Corporation.
“So many people went out to different bars, and they might’ve found a new bar that they love, and will be repeat customers at in the future,” Rigie said.
“So now we just got to get the Knicks to win the Knicks win of the championship again next year is an important economic plan.”
