10 Updates

Masters Tickets Down As Much As 31% After Tiger Woods' Withdrawal

Apr 3 2014, 12:51pm CDT | by

Although he hasn’t won a Major championship since the 2008 US Open, Tiger Woods has still retained his status as the biggest draw in golf over the last six years. Since first appearing in  back in...

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16 weeks ago

Masters Tickets Down As Much As 31% After Tiger Woods' Withdrawal

Apr 3 2014, 12:51pm CDT | by

Although he hasn’t won a Major championship since the 2008 US Open, Tiger Woods has still retained his status as the biggest draw in golf over the last six years. Since first appearing in  back in 1995 as a Low Amateur, Woods has not once missed the storied tournament. He has had great success on the hallowed grounds of Augusta National, having won The Masters four times since notching his first Major championship at the 1997 event. However, Woods has certainly slowed down in recent years. He has had a few ailments and procedures that have sidelined him from a handful of events including Majors in recent years, but The Masters has remained the only Major that Woods has never missed. That will change this year, as Woods underwent back surgery earlier this week for a pinched nerve that will sideline him for four to five months. As a result, prices for Masters tickets are down by as much 31% depending on the day.

Last year, Woods was playing some fantastic golf heading into The Masters. As a result, ticket prices were up substantially from 2012 as fans hoped to see Woods contend for his 15th Major championship. As a barometer of the interest, the price for a four-day badge last year was up 152% year over year, to an average of $9,267. As a result of the enthusiasm for Woods last year, even the Monday and Tuesday Practice Rounds were up 70.74% and 50.87% from 2012. Monday carried an average of $526, while Tuesday checked in at $718. This year, those prices have taken a step back. Monday’s practice round now has an average of $394 while Tuesday checks in at $546.  Prices for the Tuesday round has declined 31% in the last week. According to Razorgator CEO Nima Moayedi, this will be one of the easier years to get Masters tickets , not only because of the lower prices, but also because of higher available inventory compared to other years. According to Moayedi, there are about 3-4 times more inventory available than last year.

As for the individual tournament days, ticket prices for this year are largely down across the board from both 2013 and 2012.  This year, expectations for Tiger were tempered to begin with, and prices have fallen further now that he won’t be participating at all. Thursday’s opening round last year had an average price of $2,494, an increase of 43.30% from the 2012 average of $1,740. This year, Thursday tickets are down to an average of $997, and down 20% in the last week.  Masters tickets under $1,000 is a rarity, and for the first time in five years, the average price for Kentucky Derby tickets are more expensive than any of the non-practice rounds Augusta. While prices are certainly down, the decrease from last year becomes less drastic as the week goes on. Friday is down 49% from last year to an average of $1,067, and Saturday down 45.97% to $1,058. However, these prices have continued to fall with no Tiger to drive demand. Friday tickets are down 15% since Tiger’s announcement, while Saturday has fallen by 19%.

While badge prices have taken a hit since Tiger’s withdrawal, hotels in an around Augusta are another story. According to Brian Ek at Priceline, Augusta, Ga Hotels are scarce and there is a massive premium for what’s left.  On a normal weekend, a three-star hotel goes for between $89 and $127 a night.  For the remaining three-star hotels, it will cost $847 a night. For the two-star category, a normal weekend goes for $30 compared to rates this weekend as high as $455.  By the time time tournament starts, hotels may be the most expensive part of the equation for fans looking to take in the biggest event in golf.

Despite all the declines, the Masters remains the most expensive golf tournament in the country, as we detailed previously on the TiqIQ blog.

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into b ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hi ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in th ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million in ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involvin ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Scheme 2014. ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Skyway ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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