Cheltenham Festival has announced a 30p reduction in the cost of a pint of Guinness, bringing the price down to £7.50 from £7.80.
The move comes as organisers attempt to reverse declining attendance figures at the prestigious racing event.
This year's festival attracted just 218,839 visitors to Prestbury Park, representing a drop of over 10,000 from the previous year's attendance of approximately 230,000.
Wednesday proved particularly concerning, drawing only 41,949 spectators through the gates.
Cheltenham Festival are set to lower the price of Guinness next year
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This marked the smallest single-day crowd in 25 years. Racegoers have cited excessive costs as the primary factor behind their reluctance to attend the event.
Chief executive Guy Lavender, who previously served as MCC chairman, is leading the initiative to enhance the festival experience.
"The price of a pint of Guinness is a peculiarly emotive issue for many people, but it's important," Lavender stated.
He acknowledged that whilst Cheltenham stands as a unique event, public concern about pricing was evident.
"Therefore, my view was that we ought to do something about," he said.
"Rather than put their prices up, which I expect every other venue to do, I felt we should reduce those prices and carry those costs ourselves."
Cheltenham Festival saw a dramatic drop-off in punters this year
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Festival organisers have invested more than £1 million in infrastructure improvements ahead of the 2026 season.
The upgrades encompass enhanced car parking facilities and refurbished bars within the main grandstand.
Broadcasting capabilities have been modernised alongside the installation of a new PA system throughout the venue. In a significant change to the festival's traditional format, Wednesday has been rebranded as Ladies' Day.
Chief executive Guy Lavender is leading the price reduction plans
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These developments form part of a comprehensive strategy to address visitor concerns about value and experience. The price reduction applies across the entire racing season, not merely the festival period.
Lavender emphasised the venue's significance within jump racing. "Cheltenham is the jewel in the crown of jump racing and we want racegoers to feel they are stepping into somewhere truly special from the moment that they arrive," he said.
The 2026 Cheltenham Festival will commence on Tuesday 10th March
| PA"The changes announced today mark another meaningful step forward, but it is always important to listen to your customers and evolve, and I can guarantee that there will be further changes for 2027."
The 2026 Cheltenham Festival will commence on Tuesday 10th March, with organisers hoping the reforms will restore attendance to previous levels.