Fans will spend roughly $38.4 million in activities surrounding the AT&T Pebble Beach National Pro-Am, according to MontereyHerald.com.

The estimate comes from a study the Herald sources that breaks down spending by people at the tournament.

Guests from out of town spent an average of $93 on food and drinks and $147 on lodging during the 2005 week, according to the study, conducted by professor David Roberts of the Fisher Graduate School of International Business at Monterey Institute of International Studies.

Local residents dropped an average of $71 for food and beverages for the event in 2005.

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The tournament creates one of the busiest weeks of the year in the area, merchants said.

"It's wonderful for our business," said Katherine Kressman, manager of Anton & Michel Restaurant. "It's just like during Concours d'Elegance — the restaurant is completely sold out."

Kressman said most of the customers are there year after year.

"The restaurant's busy all year, but AT&T, Concours, those are really our star weeks," she said. "It's very good for our town and it shows the restaurants off."