Charlotte track, area hotels form pact to drop rates
CONCORD, N.C. – With fans facing economic hurdles, Lowe’s Motor Speedway entered into a partnership with 36 area hotels for 15 percent reduction of typical race-weekend rates with no minimum stays during the Bank of America 500 race weekend in October.
The hotels are within about a 30-mile radius and not necessarily those closest to the track. The hotels are listed on the track’s Web site.
“Most of the hotels that are participating, for the first time in May that they could ever remember, did not have full houses,” said Tim Newman, chief executive officer of the Charlotte Regional Visitors Authority. “As we talked to fans and [the hotels] talked to their customers who didn’t book about why that was, they said, ‘We’re not going to do a three-night minimum and we’re tired of you jacking up the rates.’ ”
It was just another sign as the sport attempts to adjust to the current economy.
The track is offering a discounted four-ticket package that includes four hot dogs and four drinks similar to some of those at other tracks as well as other concession and souvenir discount packages. The ticket package unveiled Tuesday is about 30 percent less than the cost of the four tickets and accompanying concessions.
“I mentioned last month that we were going to be bringing the cost down for fans to come to races at [this track],” said Lowe’s Motor Speedway president and general manager Marcus Smith. “I didn’t want any grass to grow under my feet.”
Smith, who also serves as president and chief operating officer of Lowe’s parent company Speedway Motorsports Inc., also spoke on several other issues following the news conference to promote the hotel packages.
• On advance ticket sales across the board, Smith said those have held steady – some are ahead and some are behind, he said.
• SMI is completing sanctioning agreements with NASCAR. SMI has asked for its fall Atlanta race to move to Labor Day weekend in hopes of improving attendance and its spring Bristol date to be moved into April to avoid cold weather.
“We’re very close,” said Smith, the son of SMI Chairman Bruton Smith. “NASCAR and our team have worked together very well. … We haven’t had any retraction from [our requests]. We’re still moving forward with those plans, but we’ll have more to announce on that at a later date.”
• On negotiations for track naming rights with Lowe’s Motor Speedway, Smith said those are continuing with the 10-year deal ending in January 2009.
“We have continued discussions with Lowe’s in extending their naming rights agreement, and things continue to be positive there,” Smith said.
