Some F1 fans are said to be “very dissatisfied” after analysis reveals hotel prices will be cut by 83 per cent as the debut Las Vegas Grand Prix approaches.
F1 is expanding into the U.S. market, experiencing a boom in popularity in the country following the success of Netflix’s hit F1 documentary series Drive to Survive.
And a major milestone is just around the corner as F1 heads to Las Vegas, Nevada for its long-awaited debut Las Vegas Grand Prix.
Las Vegas hotel prices plummet as event approaches
Of course, it was never expected that events like this would be cheap for those wishing to attend, but F1 has come under fire for extreme ticket and event pricing, and hotels are also experiencing price-related issues. It seems like he’s holding it.
research by Alex Guzman in Oversteer 48 has produced a complete price analysis of 22 of the largest hotels on the Las Vegas Strip, directly comparing the prices of each hotel during Grand Prix weekend and a year ago when F1 hosted the Las Vegas Grand Prix.
Only one of the hotels analyzed has kept its prices unchanged, while the other 21 have seen drastic price reductions, peaking at the “Circus Circus” hotel, which has reduced its prices by 83%. The average attrition rate for the 22 hotels analyzed was 58%.
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The report says that contrary to F1 and hotel owners’ expectations, tickets for the Las Vegas Grand Prix have not yet sold out, prompting the latest price cuts as hotels try to attract fans.
Guzman reports that some fans have managed to secure compensation or rebook hotels at current, significantly lower prices, but in response to the expected scramble for tickets, refunds have not been offered. Some fans are reportedly making reservations that are no longer available or are calculating the cost of the discount. Hotel.
The inaugural Las Vegas Grand Prix is a Saturday night race that will take place on November 18th at a street circuit that includes the Las Vegas Strip.
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