Las Vegas Hotel Room Rates Spike as Formula 1 Race Fast Approaches 

Posted on: November 7, 2024, 01:18h. 

Last updated on: November 7, 2024, 02:06h.

Mark Keast Read More
Expertise: Canadian Gaming, iGaming, Las Vegas, Sports Betting, NFL, Boxing, UFC.

The Las Vegas Grand Prix Formula 1 race is fast approaching with practice and qualifying taking place on November 21-23, followed by the race that Saturday night.

The Las Vegas Grand Prix F1 street race takes place later this month. Image/LVCVA

Going into its second year, the Las Vegas Strip Circuit is a temporary 6.2-kilometer (3.85-mile), 50-lap, 17-turn street track running under the Vegas lights and passing iconic locations like Caesars Palace, the Bellagio, and the Venetian.

The inaugural race, run last year (lap record set by Oscar Piastri, at 1:35.490), wasn’t without its controversies, however.

Negative Reviews of 2023 Race

Driver Max Verstappen expressed frustrations about how the glitz and glamour of Vegas became the show more than the race, despite him winning the event while rival Lewis Hamilton said the opposite, though, and others also countered the Dutchman’s opinions.

Other issues such as loose manhole covers (F1 closed the course to inspect the entire circuit, including the long portion that runs along the Las Vegas strip), locals complaining about disruptions caused by the event, astronomical ticket prices, and canceled practice sessions also made news headlines.

That was last year, though.

This year, hotel operators are jumping on the excitement as another race approaches, if room rates are any indication.

How Do Room Rates Look?

As of Thursday morning, here’s what we found when looking up rooms at hotels on the Strip:

  • A Julius Deluxe Room at Caesars Palace over the three nights is going for $469 per night; prices climb from there up to the Colosseum Duplex Suite at $21,752 a night.
  • Prices at the Bellagio range from $795 per night for a Premier Two Queen to $1,715 for a Bellagio Suite.
  • At the Venetian, the range is $477 for a Luxury King to $859 for a Luxury Two Queen Race Turn View.
  • At Wynn Las Vegas the range is $1,483 per night for an Encore Resort King to $7,535 for all three nights in an Encore Panoramic View Two Queens to $79,014 for all three nights, which includes the Paddock Club Package in an Encore Tower Suite Salon (2,261 square feet).

Early Betting Favorites

The most expensive ticket price for the three-day weekend, according to the F1 website, is $2,750 for a Heineken Silver Main Grandstand (Start/Finish line) ducat.

DraftKings’ early betting odds as of Thursday morning have Verstappen as the favorite to win (+185), followed by Lando Norris (+250), Charles Leclerc (+285), Carlos Sainz (+650), Piastri (+1600), and Hamilton (+2200).