As travelers may be looking for a bargain on future fall and winter travel following a busy summer season, a new report may point passengers in the right direction.
Vroom Vroom In Vegas As Formula One Brings Out The Big Spenders
26.08.2023 - 04:35 / forbes.com
Formula One racing is coming to Las Vegas from November 16-18, 2023. Formula One will be rolling down a track built on The Strip right by the iconic casino resorts of Las Vegas.
Millions of people are hooked on F1 drama, with competitors like Max Verstappen, Sergio Perez, Lewis Hamilton and Charles Leclerc, and the incredible teams behind the cars.
Fast machines, young-gun drivers, celebrities and hotties, outrageous parties and backstage drama on Netflix and ESPN, plus money, have convinced Las Vegas to bring back Formula One. (Previous F1 races in Las Vegas were in the early 1980’s.)
The race, officially known as the Formula 1 Heineken Silver Las Vegas Grand Prix, will certainly promote Las Vegas to a global audience. Formula One is watched in more than 150 countries.
But Las Vegas likes to take its money up front, rather than wait for the trickle-down effect. And with 100,000 people expected at the race each day, the casino hotels have put together dream destination packages limited only by the size of your bankroll. Do-it-yourselfers could also get tickets from Formula One directly here. High-end Paddock tickets are sold out but may be available through the hotels.
With many hotels offering three to seven-night packages that start over $6,000 and go up to nearly $1 million, the hotels clearly expect F1 to deliver something of a free-spending whale convention.
The forecasted economic impact in Nevada is estimated at $1.2 billion. That’s more than twice the revenue to be generated by the 2024 Super Bowl at Las Vegas Allegiant Stadium.
Las Vegas has built a $500 million paddock building as the centerpiece for the Formula One race. The 300,000-square-foot, three-level structure includes the garages and pits, plus skyboxes and a rooftop terrace for viewing.
Formula One will be an ideal match for Las Vegas as it’s “a nighttime race, because of the television audience Formula One gathers,” says Doni Taube, Senior Vice President of Business Development, Resorts World Las Vegas.
Taube says that on the Los Vegas Grand Prix track, “Spring Mountain is the turn, and they go down Koval around MSG Sphere. The entire track is 3.8 miles.”
The city has been gearing up for the race for months, Taube says. “Street repaving started in May and June. The city is removing reflectors and using stripes. Barriers go up in October. Las Vegas is quite used to this kind of thing.”
Resorts World, a $3.5 billion resort and the newest hotel on the Strip, already caters to an upscale crowd. Resorts World customers might be able to catch some of the race with the view of the Strip from Allē Lounge on 66—the 66th floor.
But the real action will be in the Formula One facilities near the track, with grandstand, paddock and skybox
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
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