February 13, 2015
Philadelphia claimed the winning bid for the Democratic National Convention.
Now what? Lots and lots of hospitality planning and tough choices for local businesses, that's what.
With a projected injection of $175 to $225 million into the local economy, restaurant owners are weighing whether to close their venues for private parties or to keep them open to the public, Philadelphia Business Journal reported.
There are two sides of the coin, according to Vetri partner and COO Jeff Benjamin: first, there's loyalty to regulars and, second, there's business opportunities.
Kildare's Irish Pub and Doc Magrogan's Oyster House owner Dave Margrogan estimated that his restaurants could see up to a 30 percent increase in sales.
Large buyouts were common in 2000, but local restauranteurs said business decisions must be made differently in 2016. The upcoming DNC will differ, they said, from 2000's RNC because the city's economy is more thriving since then.
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