Luxury Suites At Saratoga Race Course?
According to a report, the New York Racing Association has plans to install updated luxury suites at Saratoga Race Course if it can obtain the capital necessary to fund such an
undertaking.
An article by The Business Review conveys the sentiment that it agrees that the race track still remains as a place for companies to treat clients or court new ones—even in a time when some executives, eyeing the recession and tighter margins, have backed away from such outings and perks.
The report states that NYRA CEO/President Charles Hayward envisions a permanent, two to three-story building which would hold the potential to add more suites. There currently are luxury suites at the track, but according to the report, even Hayward chooses to watch his words when referring to them. “We use this term loosely, but we do have luxury suites," he was quoted as saying. "They’re basically metal trailers you see at other sports events."
In the article, University of Michigan Sports Economist Rodney Fort is quoted as saying, “They (luxury suits) are cherished by the people who are running the show,” and that, “The point of them is to provide a business ambiance for people of means who also like to watch the games. They come to watch, but they also come to do business."
If the plan does come to fruition, the expansion would be among at least $100 million in renovations aimed at putting a modern face on the 140-year-old track within the next 10 years. Much of the funding depends on whether the proposed racino at Aqueduct Racetrack sees the light of day.
(With files from The Business Review)
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