According to Las Vegas local news, hotel bookings for this year’s Formula 1 race are off to a “soft start,” with rates at half the cost compared to the event’s 2023 debut.
The inaugural Las Vegas Grand Prix was considered a financial success, having a positive economic impact on the Nevada city, but it wasn’t without its negatives.
Putting on the race created logistical issues, with the event’s Chief Commercial Officer Emily Prazer revealing to BlackBook Motorsport last November that “We’ve been trying to survive and get the race ready on time. It’s been really hard.”
A year on, Fox 5 Las Vegas reports that demand for the event is not what it was in 2023, but there is hope demand builds up towards the event on November 21-23.
An earnings call last Wednesday with MGM Resorts Executives revealed that sales are off to a “soft start” even with rates for hotels closer to the circuit at half the price compared to last year.
There’s hope amongst those close to the event that the home NFL fixture for the Las Vegas Raiders on November 24 will help attract more comers to the city that never sleeps in the build-up to the Grand Prix.
However, Formula 1 having to rely on another sporting event to fill its quota of travelling guests is what you’d call the makings of a difficult second album.
Amid local unrest in the lead-up to last year’s GP, with locals frustrated with the disruption to the Las Vegas Strip as F1 prepared the circuit and that frustration continuing when the event was on, there have been warnings that this year needs to go well, or else the Las Vegas GP will be no more.
Clark County commissioner Marilyn Kirkpatrick said words to that effect to local news back in June, claiming that if second time around things don’t go smoothly, “there won’t be a third time.”
Las Vegas and F1 struck a three-year deal to bring Grand Prix racing to the iconic Strip and the future beyond that looks unclear with a lot riding on this year’s event.
In her further remarks, Kirkpatrick said race organisers “have to” understand that this is a ‘do or die’ year.
“We’ve endured a lot of events, and they’re always tough the first year,” she added.
“We improved tremendously over time. This is not one, this is a unique event because it’s in the core of our community where 120,000 people go to work every day.
“We have to ensure that it is the best possible.”
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