Unsurprisingly, Las Vegas Grand Prix Hotel Room Prices Are Already Bloody Ridiculous

If you thought this year’s Formula 1 race weekends in Melbourne, Miami, and Singapore were a bit too rich for your blood, wait until you hear about the extortionate prices for a hotel room during next season’s Las Vegas Grand Prix.

Many had anticipated the race calendar’s latest addition – which is scheduled to take place from November 17th to 19th [AEST] in 2023 – would be far from budget-friendly. But a recent Instagram post from retired F1 driver Robert Doornbos highlighted the jaw-dropping premiums being charged by the likes of Caesars Palace.

“For those of you still looking for a room for the F1,” the former Minardi and Red Bull Racing talent captioned a screenshot of a Caesars Palace booking page in his native dutch.

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As you can see, a four-night stay in a Caesars Palace “Augustus Premium Suite” currently demands over US$63,000 (AU$98,000). Untenable for the vast majority of motorsport fans, certainly, though not for the high rollers with oodles of disposable income the event is expected to attract.

“When we look at what Formula One, what their normal fan base is, this really gives us an opportunity to market to that European fan base,” explained Dr Amanda Belarmino, Assistant Professor at the William F. Harrah College of Hospitality (via Fox 5 Vegas).

“If someone is coming here from Europe, and this is a once-in-a-lifetime trip, then they’re probably going to be way less price sensitive.”

Even if you were to downgrade slightly to an “Augustus Executive Suite,” you’d still be required to cough up over US$56,000 (AU$87,100) as opposed to the comparatively reasonable US$6,600 (AU$10,300) it usually retails for around this time of year; as outlined by the Caesars Palace booking page screenshots embedded below.

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The cost of accommodation, however, is just the tip of the iceberg.

Formula 1 CEO Stefano Domenicali has confirmed next season’s Las Vegas Grand Prix will be the most expensive from a fan perspective, particularly for those looking to roll like a VIP.

A three-day general admission pass alone is priced at US$500 (AU$777), which was only added after widespread complaints regarding hotels’ intentions to snap up massive ticket blocks and repackage them as “entertainment experiences” ranging from US$100,000 to US$1 million (AU$155,500 to AU$1.55 million).

Seats in the grandstands, on the other hand, start at US$2,500 (AU$3,900), while the only hospitality package currently listed with a price will set you back a casual US$10,000 (AU$15,500). In other words, diehard fans better start saving.

“Formula One has a certain positioning with regard to the kind of sport it is,” said Stefano Domenicali.

“We are going to deliver the greatest spectacle in the world as a statement of F1.”

“That needs to be recognised and in terms of price positioning, we are going to be on the top side because this is Las Vegas and that is the nature of the customer coming to Las Vegas.”

“There will be possibilities for people who want to pay less, to spend less. As always in life, it is the market pulling the price and then on our side is the responsibility to bring a great event.”

Check out the hotel price comparison table compiled by Duncan Phenix of 8 News Now.

Las Vegas Grand Prix Hotel Room Prices: 2023 vs 2022
(Average Per Night Cost & Percentage Difference)

Note: All $$$ = USD

Source: 8 News Now (as of 4/11/22)