The Dawn Run pub will be teeming with punters

That was the price paid when the Festival was cancelled, according to a study by the South West Economy Centre.

Tim Harman, president of Cheltenham Chamber of Commerce, reported: "Bar and pub managers had a hard time getting rid of their stock and one leading hotel lost �100,000."

So although the Festival sells itself and it needs no spicing up, this year's sporting extravaganza is set to prove even better than ever.

The shops in the town centre around the High Street, Montpellier and Beechwood and Regent Arcades will be teeming with an influx of visitors again.

Pubs, some of which are named after Festival heroes like Dawn Run and Jonjo O'Neill, will be packed to the rafters before and after racing.

The Promenade and Evesham Road will be abuzz with the sound of traffic patiently making its way to the racecourse.

But most importantly of all, Prestbury Park will be thriving with 150,000 excited people for the biggest three days in the town's sporting calendar.

Another win for Istabraq would be a highlight

There will be few bigger cheers than if O'Neill, one of the town's adopted sons, gets his hands on one of the winner's trophies.

The likeable Irishman has made a big impression since he moved to the Cotswolds and took over at Jackdaws Castle last summer.

He needs no introduction to racing fans throughout the world and his decision to move into Jackdaws Castle, only miles from the racecourse, was widely welcomed.

As managing director of the racecourse, Edward Gillespie, said: "Seeing Jonjo's name in the racecard with 'Cheltenham' next to it is great."

It promises to be one of the best Festivals for years, particularly if Istabraq wins a fourth Champion Hurdle.

The town of Cheltenham, which lost out so badly last year, could be on to a real winner.