Monday, January 29, 2018 / by Sean Zanganeh
According to terms of the deal, the association will lease the golf course in June of that year for $2.5 million. The economic benefit for the region, however, could be far greater.
San Diego hosted the tournament for its first and only time in 2008. Attendance totaled about 295,000 people, and the city benefited from about $1.5 million in hotel room taxes from 74,000 room-nights.
The overall economic impact of the tournament was estimated at $142 million, with about $1.6 million coming from sales tax revenue, according to a city report.
Moreover, the final round featured a showdown between Tiger Woods and Rocco Mediate that went into extra holes and led to the largest television audience in the tournament's recent history.
"You can't put a price tag on what the exposure means around the world," City Council President Todd Gloria said.
Mike Butz, the director of open championships for the USGA, told the City Council that the 2008 tournament was "an unqualified success."
Also, the city's independent budget analyst, Andrea Tevlin, noted that the success of the tournament nearly six years ago came as the nation was entering a deep recession.
The lease will include both the North and South courses at Torrey Pines, the glider port and the parking lot at Qualcomm Stadium. The USGA will also negotiate with lessees such as the Hilton La Jolla Torrey Pines and The Lodge at Torrey Pines for the use of the hotels.
In return, the city might be required to make modifications to the golf course. It has agreed to keep golf carts off the course for six weeks before the start of the tournament, help with security and appoint liaison staffers.
City staffers expect direct revenue to outstrip expenses. The city will get 20 percent of hospitality tent revenue, which Carolyn Wormser, the city's director of special events, said could bring in $1.3 million for the city.
Thank you ABC 10 news for this great article