Pop-Up Winter Wonderland

Recently I was given a behind-the-scenes tour of Citi Pond at Bryant Park and the major transformation which it has undergone. In just 15 days, Upsilon Ventures turned the mid-town Manhattan park into a winter wonderland including a full-sized ice skating rink, a restaurant and bar, and dozens of small stores. This is the seventh year for this event and each year it's been getting better.

The restaurant/bar called Celsius is not a tent (as in year's past). It is a real two-story "brick and mortar" structure (actually glass and wood structure) with great views of the rink. I am told that the space is already booked for dozens of holiday parties. 

Full Disclosure: I was given three $25 gift certificates to use at three different Bryant Park stores. Of course, this gift did not affect the content of this post or my opinions. They did give me reason to check out three of the stores and walk passed many others. Overall, I was impressed with the stores. Many had unique "stocking stuffer" type items like heat-emitting hand warmers, hand-made artisan knifes, and a store called Sovl which sells various products like switch plates, watches and jewelry made from recycled materials.

It's hard to image the money and effort that goes into building Citi Pond in just two weeks when one considers it is only open roughly four months. But, it is certainly a fascinating business model and one worth visiting.

When it first started in 2002, Upsilon Ventures originally generated revenue solely from shop rental. In 2005, it added the skating rink where it added revenue streams from sponsorship, and skate and locker rentals (by the way, no charge for those who bring their own skates). Now, food and beverage sale at Celsius and a snack bar provide yet another source of income.

Citi Pond at Bryant Park is Upsilon's largest project but it does smaller projects too. Also, they make money in the "off season" by renting equipment and building structures for other events such as Fashion Week.

Upsilon's owner, Frank Diprisco, pointed out that his company has the luxury of picking unique and attractive space for its projects and locking it down for peak time periods.  He also exploits that fact that they can develop a space without any long-term commitment and minimal infrastructure cost.

On the other hand, Diprisco's biggest challenge (like many businesses) is hiring. His company has a core group of 12 to 15 employees but, during Citi Pond at Bryant Park, it hires over 300 temporary employees. Training short-term employees can be chaotic and is often done "on the job".  Fortunately, many of Upsilon's management-level people come back annually.

If you are in the Bryant Park area, check it out.  It is certainly worth seeing.