Golf-Masters-Recession makes precious tickets affordable

By Steve Keating

AUGUSTA, Georgia, April 11 (Reuters) - For die-hard golf fans a ticket to the U.S. Masters may be precious but in a biting recession there is a limit to what they will pay to watch Tiger Woods fight for a Green Jacket.

While the world economy withers, there are no signs of a recession inside Augusta National Golf Club where the Azaleas are in full bloom and the 63 cash registers at the merchandise shop hum from dawn to dusk.

Outside, however, the economy that operates on the fringes of one of the world's most famous golf clubs is spluttering as ticket touts slash their prices and corporate hospitality businesses scramble to unload an inventory of homes.

Dianne Starr, president of Corporate Quarters Inc., which hires houses to companies and golfers in Masters week, said business was down 20 percent in the last year mostly due to crippled carmakers, banks and financial institutions slashing their hospitality budgets.

According to Starr the biggest fall has been in the "high-end" homes that go for $20,000 to $30,000 for the week, though deals could be found across the board.

"Business is the worst in 30 years," Starr told Reuters. "We have definitely seen a decrease in the number of companies coming in big numbers and the companies that are coming seem to be bringing fewer people.

"There are some good deals; the cost of homes is lower simply because so many are available. Some of the big carmakers are not here and the banks."