Yes, SPECTATORS is a Scrabble word!

Letter values in Scrabble US: S 1, P 3, E 1, C 3, T 1, A 1, T 1, O 1, R 1, S 1.

Is it a valid word?

SPECTATORS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a close observer; someone who looks at something (such as an exhibition of some kind)
a woman's pump with medium heel; usually in contrasting colors for toe and heel

Also: spectator pump.