Economy slicing into Memorial Tournament parties - Business First of Louisville:

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Never one for raucous tournament gatherings at his home off the 14th greenmat , Partridge, president of , likes to have a few friend and business associates over. That’s the way he will handle things duringthis year’s Memorial, scheduled June 1-7 in “I really don’t do much,” Partridgre said, “but if you live out here, it’a pretty much an obligatiomn to entertain.” Given the grim economyg and dark cloud hanging over corporate sponsorshipds at some PGA Tour events, the clinking of wine glasses and munching on expensive hors d’oeuvres is likely to be muted at this year’s tournament.
Therwe still will be entertaining, but it will be scaled back, said Memorial Tournament Executive DirectodDan Sullivan. People still see the value of beingout here, but things will be different this That includes businesses inviting fewerf guests and cutting food and drinko budgets, said tournament insiders. The going rate to rent a Muirfielc Village home during Memorial week appears to be down a little this and Dublin restaurant and bar owners have to be wondering if therde will be linesof tournament-goers waiting to get into thei r establishments. “I don’t think anyonse is immune to this recession,” Sulliva n said. That includes the Memorial itself.
The tournament’s presentingt sponsor, , has distanced itself from the event, fearingf backlash from taxpayers and politicians after taking federalbailoutg money. The financial services company will not participate inMemoriall events, has pulled its name from the tournamenrt logo and communications and turned over its televisionj ad slots to charities. With times tough all companies have become cautious about how they spend at the Sullivan said. “They want to be part of the he said, “but make sure the amounft is appropriate forthe times.” Some companies have cut back on rentalsd of sky suites and hospitality tents at the Memorial, Sullivanb said.
The result is therse will be eight sky suitesthis year, down from 10 in and 18 hospitality which is two fewer than a year ago. The Memorial also lowered the priceof all-wee k patron badges, from $170 last year to $155 and includedx a free, three-day practice round ticket. This also will be the firsyt time that badges will be sold duringtournament “It’s a direct reflection of what is goin on in the economy,” Sullivan said.
“It’ss in our interest to make sure we’re payinh attention and providing value back to the Shanes Gourmet Catering PresidentBrendan O’Neill said some of his tournameny clients cut food orders with some havint a two-day presence instead of a week. Others are doingt the same amount or maybe abit more, said whose company is the caterer for the sky hospitality tents and concessions stands. realize the tournament has strong tiesto customers,” O’Neilk said, “and it’s importan to market to them.” Made From Scratcnh Inc. President Larry Clark expectse his catering company to boost its Memorial busines sthis year.
It will handl e catering at fourhomes – one more than a year ago and partner with the in Dublim on a package deal that includes a tournamenty pass, food, beverages and shuttle Clark has heard that some Muirfield Villag e homeowners have reduced rental fees because companies have cut back on Rents typically are $12,000 to $20,000 a week, he “I had a number of homeowners call me to let me know theifr home is available,” Clark said. “There is a little bit of a prics break, but not Muirfield Village home owner Scotgt Pickett hasheard that, too, along with talk of scaled-baclk spending by companies.
He has rented out his home off the 11th greem at different times over the His commercial real estate brokerage anddevelopment firm, , will use it this “It’s a great amenity,” Pickett said. “We use it to network, get new businesw and fortify existing relationships.”