A makeshift shrine for Michael Jackson is seen outside the O2 arena in southeast London, Tuesday,...
A makeshift shrine for Michael Jackson is seen outside the O2 arena in southeast London, Tuesday, June 30, 2009, where he was scheduled to play 50 shows from July 2009. Now that the reality of Michael Jackson's death has sunk in, some Londoners are assessing the economic impact of his sudden departure and they don't like what they see. The demise of the pop legend means the cancellation of 50 planned shows at London's 23,000 seat 02 Arena, which was sold out for the long anticipated Jackson run. Some replacement events will be scheduled in their place, but the loss of the superstar means lots of empty hotel rooms, half-filled restaurants, and quiet nightclubs. (AP Photo/Lefteris Pitarakis)
(AP)
Now that the reality of Michael Jackson's death has sunk in, some Londoners are assessing the economic impact of his sudden departure — and they don't like what they see.
The demise of the pop legend means the cancellation of 50 planned shows at London's 23,000-seat O2 Arena, which was sold out for the long-anticipated Jackson run.
Some replacement events will be scheduled in their place, but the loss of the superstar means lots of empty hotel rooms, half-filled restaurants, and quiet nightclubs.
"We expected huge numbers for him," said Louis Thacker, general manager of the Pilot Inn, a hotel near the arena. "It was something we were looking to be a boost for us, and we were kind of banking on it."
In an economy as large and diverse as London's, the scrapping of the Jackson concerts will not be felt by most businesses, but it is expected to have a substantial impact on the East London and Greenwich areas near the O2 Arena, where hotels, restaurants and nightspots all count on concert goers.
"The hotels there will be panicking," said Tom Otley, editorial director of Business Traveller magazine. "It's a very tough story for them, but it can be good for business travelers because they'll be lowering their rates."
He said hotels near the arena rely on O2 events to keep their rooms filled on weekends, when there are very few business travelers in that part of the city.
The cancellations are also hitting the corporate hospitality industry because many companies planned to bring executives to London for some of the shows.
Alex Hewitt, managing director of AOK Events, said his company's profits would suffer because many companies were planning entertainment events tied to the Jackson shows.
"I have never seen anything to this scale, to have an event where there were 500 packages a night for 50 nights and all of a sudden it's no longer happening," he said.
