Nascar sampling
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DuPont pulling back from sponsoring in 2009 was seen as a sign of the economy slowing down that year. While hospitality at racetracks took a 20-25% hit in 2009, tent rental costs remained high between $5,000-$10,000 and tracks are now focusing on adding value instead of slashing prices to attract sponsors back during the economic recovery.
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Nascar sampling
- 1. "When DuPont pulled back, we all saw that as a sign of things to come in 2009," Caldwell said. "Even though they're not back to where they were, they're coming back and that's the important thing. They know the value, and they know it's important to their business. It is an indicator that the economy is slowly turning around." Even though hospitality took a 20 to 25 percent hit at most tracks in 2009, Deas said he has not found a significant reduction in rates. It can often cost as much as $5,000 to $10,000 to rent a tent, which is just the start of hospitality costs. Caldwell said tracks are focusing on different ways to add value rather than slashing prices to lure sponsors back.