Hartford Business Journal

HARTFORDBUSINESS.COM | SEPTEMBER 22, 2025 11 Premium seating sells fast A centerpiece of the Hartford arena overhaul is new premium seating. The arena's five "bunker suites" — each featuring luxury spaces with private lounges and 15 to 18 first-row seats — cost an average of $400,000 annually. Four have already been leased, with a fifth deal close to being finalized, Weiss said. There will be 51 new loge boxes, each seating four to six people, with in-seat dining service and access to an exclu- sive event-level bar/club area. Over half of the long-term loge boxes have been reserved in five-year deals at an annual average price of $75,000. A sellout is expected by mid-October, Weiss said. The arena will also sell memberships to its event-level club at $2,500 per seat annually. It maintains 43 executive suites, about 15 of which are leased under long-term deals. Those older-style luxury boxes are excluded from the current renovation plans, though tenants may update and refurnish them independently. Holyoke, Massachusetts-based PeoplesBank, which purchased the arena's naming rights in June, has reserved one bunker suite and two loge boxes. The bank is paying an average of $2 million annually over 10 years for the 225,000-square-foot venue's naming rights, with options for two additional five-year extensions. The attention from a new sponsor and name has been a big boost, espe- cially as it coincides with the upgrades, Weiss said. "We are really looking forward to them being in the building and truly being a partner, not just a name on the building," Weiss said. "They will be in the building as patrons and fans, bringing customers and staff. So far, they have been a really fantastic partner." More work to come Providence, Rhode Island-based Dimeo Construction is leading the arena overhaul. When the facility reopens Oct. 17, visitors and teams will see other upgrades, including a multipurpose room for events and gatherings, new team locker rooms for UConn and the Wolf Pack, a new main roof and expanded areas for broadcast trucks. Renovations will continue through next spring without further shutdowns. The second phase of upgrades will introduce an event-level kitchen, star dressing rooms, an artist lounge and new electrical switchgear, among other improvements. Freimuth, who has long championed an overhaul of the aging arena, said the renovations will allow Hartford to book shows it previously missed out on. "We were missing out on opportuni- ties because we couldn't put the right seats in, we couldn't put the right ticket pricing in, we couldn't get the right rigging, we couldn't get the right stage position, we couldn't get the trucks in and out," he said. "It was endless." Downtown boost Freimuth acknowledged that it's hard to calculate the arena's economic impact. Despite years of operating deficits, officials have defended the venue as a key driver of downtown Hartford foot traffic that supports local restaurants and merchants. That activity, he noted, helps restau- rants survive slower periods, and those establishments in turn serve as vital amenities for companies and employees occupying millions of square feet in Hartford's downtown office towers. "This building is in many ways like an anchor at a mall, it drives people into the general fabric," Freimuth said. Mike Smith, general manager of the Urban Lodge Brewing Co., located on Pratt Street across from the Peoples- Bank Arena, said his revenues typically more than double on event nights. Area businesses are all looking forward to the arena's reopening, he said, and customers are regularly asking about progress. "Pretty much, with any of the events over there, we always get some level of extra business," Smith said. "We are excited about the project and what it means for us and all of the small businesses in the area." Max Hospitality Group CEO and President Scott Smith said UConn basketball games drive a roughly 30% increase in business at his company's three downtown eateries — Max Downtown, Trumbull Kitchen and Max Bar. Concerts with top-tier headliners pack his restaurants to capacity, he said. "With big concerts, we sell out," Scott Smith said. "I would say we can double the sales when there is a big act coming through. … Anything that will bring more attention and more activity downtown is good for us. We thrive when there are concerts, games and other activities." A construction worker installs new seating at the PeoplesBank Arena in Hartford. HBJ Photo | Steve Laschever Scott Smith ONLINE. ONLINE. BUT NOT ALONE. BUT NOT ALONE. 100% online programs with supportive faculty and an engaging community: Accounting (MS) Applied Data Science (MS) Business Administration (MBA) Cybersecurity (MS) Healthcare Administration (MS) Organizational Leadership & Negotiation (MS) E N R O L L I N G N O W F O R O C T O B E R 2 7 T H

• Cover