Blind views such as these are the reasons people do not understand the complexity of the college football post season. You might see it as just 'a game' but in the end its much more. Much, much more. Its a week long event with a football game thrown in the middle. And during that week, dollars flow in.
The Sheraton Birmingham, as a host hotel, is proud of the economic benefits our property received during the 2009 Papajohns.com bowl. This is a huge boom for the entire BJCC complex during a time where we traditionally have been slow due to the holidays." -- Mark Noyes, GM, Sheraton Birmingham
Take a look at the study the Fiesta Bowl put together on what the the college post season did for their area of the US. While the Fiesta Bowl made money, it was the surrounding area that benefited the most.
http://www.fiestabowl.org/public/downloads/Fiesta_Events_Economic_Impact_2010-2011_July21_FF.pdf
Wonder why there's no playoffs? Sure the university presidents are concerned that they may lose money but its the communities that are worried the most. Playoffs turn their game from a week of revenue stream to a day.