NEW YORK (CBSNewYork) – The Great White Way and surrounding businesses were seeing shades of gray during the pandemic shutdown. No business was unaffected when theaters were forced to close, affecting hundreds of thousands of jobs, and billions of dollars.
As CBS2’s Cory James reports, the Broadway reopening of “Hamilton” is more than just a boon for theater lovers. This musical alone is a billion dollar franchise that will hopefully drive people back to the Theater District and help with a much needed economic recovery for all businesses in the area.
Broadway is a business steeped in the arts, but it survives by the numbers. Consider: Broadway is home to 41 theaters. More than 14 million people spent nearly $2 billion on tickets alone in 2019.
The shutdown on March 12, 2020 put about 97,000 people out of work, and the ripple effect was devastating to the surrounding businesses.
“Our relationship to the Theater District is really an essential part of our hotel, right in the heart of where all our Broadway shows are. We’re across the street from ‘Chicago.’ We’re right next door to ‘Book of Mormon,’” said Leiya Cohen, general manager of The Time New York, a boutique hotel with 192 rooms that was forced to close during the pandemic.
“It was really heartbreaking to shut it down. But we opened and reopened again June 25, 2021. I was…