360° Coverage : Masters Tickets Down As Much As 31% After Tiger Woods'...

1 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...

Filed under: news

 
 
 

29 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
1

8 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Pakistan for normalised ties with India 'despite provocations'
Islamabad, Oct 28 (IANS) Pakistan Tuesday told a senior US official that it wants normalisation of relations with India despite the "recent provocation of hostilities" along the border and also sought the international community's intervention in the "core issue" of Jammu and Kashmir.
 
 
US nurse with Ebola to be released from hospital
Washington, Oct 28 (IANS) A second US nurse diagnosed with Ebola while caring for a patient from Liberia is now free of the disease and will leave Emory University Hospital in Atlanta soon, hospital authorities said Tuesday.
 
 
WHO welcomes approval of Ebola vaccine trial in Switzerland
Geneva, Oct 28 (IANS) The World Health Organisation (WHO) Tuesday welcomed the approval of a Swiss regulatory authority for a trial with an experimental Ebola vaccine at the Lausanne University Hospital.
 
 
Salt-degraded farm soil now equals the size of France
Toronto, Oct 28 (IANS) Every day for more than 20 years, an average of 2,000 hectares of irrigated land in arid and semi-arid areas across 75 countries, including in India, has been degraded by salt, a research has found.
 
 
 

Latest from the Network

Benedict Cumberbatch: Sherlock can't have sex
Benedict Cumberbatch says Sherlock Holmes doesn't have sex - because he's more interested in crime. The 38-year-old British actor was catapulted to global fame playing a modern version of the fictional detective in the...
Read more on Celebrity Balla
 
Melissa McCarthy was robbed at gunpoint
Melissa McCarthy was robbed at gunpoint when she moved to California. The 'Bridesmaids' actress was working at a dry cleaners on a quiet street in Santa Monica when she first moved to Hollywood to pursue a movie career...
Read more on Celebrity Balla
 
Russell Brand: I wish I was bisexual
Russell Brand wishes he was bisexual. The 39-year-old comedian - who was married to Katy Perry for 14 months until December 2011 - has confirmed he is single at the moment but is keen to experiment more with his...
Read more on Celebrity Balla
 
Woman saves Indian from Bangladeshis' captivity in Baharin
Manama, Oct 28 (IANS) An Indian, allegedly tortured and held hostage in Bahrain by five Bangladeshis for a paltry BHD800 ransom (about $2,000), was rescued with the help of his co-worker, an Indonesian woman, in an...
Read more on Politics Balla
 
Billiards: Bhaskar shocks Gilchrist, joins Advani in semis
Leeds, Oct 28 (IANS) For long the bridesmaid in Indian billiards, Balachandra Bhaskar, the 43-year-old from Bangalore, authored a big upset when he knocked out defending champion Peter Gilchrist 797-586 to enter the...
Read more on Sport Balla
 
WHO welcomes approval of Ebola vaccine trial in Switzerland
Geneva, Oct 28 (IANS) The World Health Organisation (WHO) Tuesday welcomed the approval of a Swiss regulatory authority for a trial with an experimental Ebola vaccine at the Lausanne University Hospital. According to...
Read more on Business Balla
 
Indian in US gets 15 years in jail for backing Hezbollah
New York, Oct 28 (IANS) An Indian citizen residing illegally in the US has been sentenced to 15 years in prison for allegedly trying to provide material support to Hezbollah, a designated foreign terrorist...
Read more on Politics Balla
 
Another body recovered from sunken South Korean ferry
Seoul, Oct 28 (IANS/EFE) South Korean rescue teams Tuesday recovered one of the 10 bodies still missing from the Sewol ferry which sunk off the country's southwest coast April 16 this year leaving 304 people dead, most...
Read more on Politics Balla
 
Iraqi Kurdish force moves to help fight IS militants in Kobane
Baghdad, Oct 28 (IANS) A group of Iraqi Kurdish fighters, known as Peshmerga, headed Tuesday to the Syrian border town of Kobane via Turkey to help local Kurdish people who have been struggling to fend off attacks by...
Read more on Politics Balla
 
Al Qaeda affiliate seizes seven villages in Syria
Beirut, Oct 28 (IANS/EFE) The Nusra Front, Al Qaeda's affiliate in Syria, has seized seven villages in the northern Syrian province of Idlib over the past few hours, the Syrian Observatory for Human Rights reported...
Read more on Politics Balla