Hotels Profit From Marijuana Legalization

Hotels Profit From Marijuana Legalization

One of the most overlooked benefits of marijuana legalization is the boost it gives businesses that don’t have anything to do with weed. Long before so much as a gram of pot can be sold, realtors, contractors and construction crews are needed to get cultivation operations and dispensaries whipped into shape. Properties must be sold, structures built, gutted, redesigned and fitted with new electric and ventilation systems. It’s a whole process that most people don’t give a second thought, and it is one where presumably thousands of non-pot-related workers are reaping the rewards. In some cases, the all-around economic impact of legalization can be in the billions of dollars, and a lot of that starts from the ground up. But is post-legalization business dealings just as lucrative? Well, if the results of a new study hold any weight, it looks like at least the hospitality industry experiences a buoy in profits once weed goes legal. According to aresearchers at Penn State, hotels are raking in beaucoup bucks on the heels of recreational marijuana laws. In Denver, Colorado, a place that should be considered one of the founding fathers of legal weed in the United States, hotels received a boost of well over $100 million post-legalization. It’s a little tidbit of information that lead researcher John O’Neill, professor of hospitality management, believes naysayers of legalization (or those on the fence) might find interesting. “The production, sale and consumption of recreational marijuana have been legalized in at least 10 states, and many others are…

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Source : cannabis now
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