Coachella a boon for surrounding businesses

INDIO, Calif. (KABC) -- In its 16th year, the Coachella Valley Music and Arts Festival has become one of the most important economic boons for the region.

"It is a big week for the valley, because there is all these people coming in, whether it be Stagecoach or both weekends of Coachella," Indio resident Elise Alvarez said.

Alvarez has a place to go after the festival, but other attendees rely on hotels, rentals or even a stranger's couch.

"I found some people on a blog. I'm just staying with them and they are driving me over and dropping me off," Florida resident Ryan Perron said.

Even before this year's lineup was announced local businesses started planning. Real estate agent Jose Espinoza books high-end homes for the festival.

"Typically, this house would rent about $15,000 for one week for Coachella Fest, where any other day we're talking about $300 or $400 a day, so it is a huge difference," Espinoza said.

Even before the first act hit the stage Friday afternoon, the crowds were in full force.

Each ticket cost just under $400, but many said it was well worth the money, even if the headliners weren't their favorite.

"I'm looking forward to seeing some of the lesser known people," Perron said.