Cheltenham Racecourse managing director Edward Gillespie says the Festival will stand up well to the present economic situation despite predictions

Ticket sales are on course to break the 200,000 barrier for the four-day event, which starts on Tuesday 10 March.

"We'd expect to be somewhere between 200-230,000 when it comes to the event," Gillespie told BBC Points West.

"We're being realistic but we're trying to deliver an event that feels more upbeat than the rest of the economy."

There have also been concerns that the economic climate would hit the atmosphere at Prestbury Park with the numbers of Irish visitors expected to drop.

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He added: "The Irish are telling us there may be a 15% drop, with people coming over for slightly less time.

"But if the number coming over from Ireland goes down from 7,500 to 7,000, you won't see the difference.

"It'll still feel very Irish and I'm sure they'll still take plenty of money home with them, not only from betting, but also from the prize money.

"The Irish invasion is as strong as ever."

Gillespie also dismissed claims from Racecourse Association chairman David Thorpe that sponsorship in the sport could fall by 40% in 2009.

"I don't recognise the figure from David Thorpe on a potential drop and I am wary of people putting out those figures," he said.

"I have been very pleased with the way we have been supported by sponsors, both long-term and new ones."

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