Lowe's Motor Speedway Cuts Ticket Prices, Adds Fan Incentives
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LMS Cutting Ticket Prices, Adding Fan
Incentives For Bank Of America 500 In October |
Lowe's Motor Speedway (LMS) is "cutting ticket prices and adding other incentives in a comprehensive program to hold on to its fan base," according to Erik Spanberg of the CHARLOTTE BUSINESS JOURNAL. LMS President & GM Marcus Smith yesterday unveiled plans to "make all aspects of attending" the October 11 NASCAR Sprint Cup Series Bank of America 500 "more affordable." The plan includes "discounted ticket prices, concessions and souvenirs," and LMS also has "negotiated an alliance with area hotels to remove the traditional three- to four-night minimum stay." Smith: "We have a fans-first initiative. ... We want to be the most customer-friendly entertainment company in the world, and this is part of that effort." Spanberg noted the hotel package is a "joint effort between the speedway and the Charlotte Regional Visitors Authority," and 36 hotels within a 30-mile radius of LMS "have agreed to cut prices 15[%]." Meanwhile, LMS, in partnerships with Circle K and Coca-Cola, also has created family four packages, which include "four [reserved] seats in the Diamond Tower section, four hot dogs and four 20-ounce Cokes" for $159. The offer represents a 30% savings, and LMS officials "plan to sell as many as 10,000 seats at that price." Additionally, anyone buying the special ticket packages also "receives a 12-pack of Coke Zero at Circle K" (BIZJOURNALS.com, 7/22). Charlotte Regional Visitors Authority CEO Tim Newman said that the hotels' participation “was prompted by their recognition of the drop of room occupancy rates” during the May 17 All-Star Race and May 25 Coca-Cola 600. Newman: “For the first time a lot of hotels in the program, that had been seeing 90[%] occupancy, were experiencing 70[%] occupancy. We also talked to fans and fans said the three-night minimum was the problem. I think these changes can be a big boon to business that weekend” (CHARLOTTE OBSERVER, 7/23). Smith said that across the board, advance ticket sales “have held steady -- some are ahead and some are behind.” He also said that negotiations for track naming rights with Lowe’s are “continuing with the 10-year deal ending in January 2009” (SCENEDAILY.com, 7/22).
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