Lighthouse Quick Takes - Why Masters hotel prices fell 37%

Golf's four majors had very different effects on hotel pricing in their host cities this year. The US Open at Shinnecock Hills sent Suffolk County, New York, hotel rates up 106% year over year, while the Open Championship in Liverpool rose 80% and the PGA Championship lifted Philadelphia 18%. The Masters in Augusta was the outlier, falling 37%, the only major to post a year-over-year decline.

In this Lighthouse Quick Take, Blake Reiter explains why: Augusta National's crackdown on ticket resale removed buyers who previously relied on the secondary market, leaving corporate room blocks unsold and forcing hoteliers to cut prices. The takeaway for hoteliers: when access to an event changes structurally, historical booking pace stops being a reliable comp.