(from Sports Business Journal, November 18, 2013) After completing a $400 million renovation in 2016, the Daytona International Speedway will increase their prices for premium seats. The speedway will have two newly built suites, known as the Midway Suites and High Bank Suites, plus a new multiday club-seat package. Each can accommodate between 50 to 300 people. The speedway is expecting to target firms, distributors, vendors, and other customers to make the renovation a huge success.
Replacing the corporate chalets, the Midway Suites will be constructed on the mezzanine level. With the new location, patrons who purchased these tickets will be able to stay indoors during the duration of the race and have access to a newly designed indoor lounge. As a result, the prices will increase from $400 to $500 starting with the 2016 Daytona 500. Right next door, the High Bank Suites will provide a season long ticket package featuring interior lounges, outdoor patios facing the track, and outside deck seating. Daytona President Joie Chitwood stated, “Our motorsports customers really want the private side of the suite, where it’s a little bit less noisy, but they want to sit outside in the stadium.” For one NASCAR fan the experience will cost around $2,448 but includes attending eight phenomenal races held at the Daytona Speedway. Lastly, one floor above the mezzanine level, a new club will open to spectators. Starting at a price of $695 per ticket, the club will include food, drinks from a private bar, and parking. Joie Chitwood believes the club level will give their customers an option of smaller hospitality.
From these premium seat upgrades, the bottom line for Daytona is an annual increase of $15 million. “We’re taking an experience we have and we’re making it better, and we think we’ve been very reasonable…,” said Chitwood. For years to come these new premium spaces will continue to entertain guests by meeting the changing hospitality needs of sponsors and other companies at NASCAR racing events.