F1 fans willing to attend the Las Vegas GP weekend next year may have to spend $100,000 on some hotels and race packages.
Las Vegas GP is set to enter the 2023 race calendar as F1 prepares to expand in the United States. The Las Vegas strip will be shut down for the race weekend. It is expected to be one of the most thrilling events of the year.
F1 CEO had even said that the event in Vegas will have four times more impact than the Super Bowl. He described it as a perfect marriage of speed and glamour.
Vegas has a reputation for being a city that attracts wins and huge disposal of cash. Therefore, it is no surprise that the ticket prices for this event are eye-watering as well.
According to PlanetF1, standard ticket prices are yet to be announced. But as per reports, some hotels and race packages could cost up to $100,000.
Vegas is ramping up for the Las Vegas GP ⤵️
The CEO of @MGMResortsIntl has said they plan to buy approximately $25 million worth of Vegas GP tickets from F1 to create hospitality packages.
Expect rooms to cost 3x typical rates and packages to cost $100,000+ #F1 pic.twitter.com/T6FDnT0ymH
— Vincenzo Landino (@vincenzolandino) August 17, 2022
Hotels around the strip are looking for opportunities to cash in as much business as they can during the Las Vegas GP.
Also Read: F1 acquires $240m worth land for Las Vegas GP
Las Vegas GP would lead to a three-times increase in hotel room prices
Earlier this week, journalist Adam Stern tweeted that MGM Resorts is planning to buy $20-25 million worth of tickets. Using these tickets the hospital company will create hotel and event packages for the thrilling weekend in November 2023.
CEO of MGM Resorts also informed that the prices of the rooms could go up to three times their usual costs. MGM owns several hotels on the Strip including the MGM Grand and Bellagio.
Being one of the priciest hotel suppliers, a one-night November stay already costs $249 at the Grand and $279 at the Bellagio.
Furthermore, the hotels are not the only ones trying to make the most of the upcoming event. F1 itself has bought a $240 Million plot of land. This was done to build hospitality such as the pit and paddock which will be in use all year round.
Also Read: MGM Resorts plans to buy $25 Million worth F1 tickets for inaugural 2023 Las Vegas GP
