New data from VegasInsider research reveals the cost of attending the Las Vegas Grand Prix has dipped considerably, with accommodation prices 76% lower than in 2023
Formula 1 fans trekking to Las Vegas for the Grand Prix weekend are looking at a relative bargain this year! With accommodation much cheaper than the 2023 edition of the race.
Key Takeaways:
- Fans can be expected to spend up to $2,693.14 on average to attend the GP in Las Vegas this year;
- Booking an Airbnb for the GP over a hotel could save punters $839;
- Accommodation prices this year are 76% lower than prices in 2023;
- AirBnB prices this year are 114% cheaper than 2023.
The Price of Admission
Getting into the thick of the action isn't for the faint of wallet. A ticket for the Main Grandstand will set fans back a steep $1,500.
On top of the coveted race experience, attendees need to navigate the city's accommodation costs, which average $953.14 for hotels and Airbnb combined. Meals for the race weekend, consisting of three inexpensive meals a day, total $240.
We did the math, and the overall cost for an unforgettable jaunt through the world of Formula 1 magic totals $2,693.14. Here’s a quick overview of the present costs:
| Overall Cost of Las Vegas Grand Prix | |
| Main Grandstand Price | $1,500.00 |
| Average Hotel(Airbnb+Bookings) | $953.14 |
| Food Cost (3x inexpensive meals a day) | $240.00 |
| Total | $2,693.14 |
Comparative Yearly Analysis
Taking a retrospective glance at accommodation trends reveals a surprising shift in expenses between 2023 and 2024. For the 2024 Las Vegas Grand Prix, scheduled for November 21-24, accommodations present a more economical outlook.
Booking prices in 2024 are substantially lower, with three nights costing $1,372.82—52% less than the 2023 price of $2,314, despite the latter covering only two nights.
Similarly, Airbnb costs in 2024 are just $533.47, a massive 114% reduction from 2023’s $1,946 price.
Average hotel costs, combining both Airbnb and Booking platforms, were altogether 76% more expensive in 2023 compared to the upcoming year. This significant decrease suggests a more budget-friendly opportunity for attendees planning the full Grand Prix experience in 2024.
Here's how accommodation expenses now stack up:
| Year ️ | Booking Price | AirBnb Price |
| 2024: November 21 - 24 | $1,372.82 | $533.47 |
| 2023: November 16-18 | $2,314.00 | $1,946.00 |
Methodology used to ascertain the above data
We analyze key cost components such as accommodation, food, and ticket prices, comparing them with nearby dates to assess how prices change during the event.
Additionally, we benchmark the costs against last year’s Grand Prix to explore trends.
Data Collection
Accommodation Costs
- Platforms: Airbnb and Booking.com
- Dates: Nov 21-24, 2024 (race weekend), and the same dates for the weeks before and after.
- Objective: Identify price surges due to the event.
Food Expenses
- Source: Numbeo
- Calculation: Cost of 3 inexpensive meals per day for the entire stay.
Ticket Prices
- Source: F1Destinations
- Main Grandstand Price
- General Admission
Data Analysis
- Cost Calculation: Combine accommodation, food, and ticket prices to calculate the total expense for the event. Break down the costs by category (accommodation, food, tickets).
Comparison:
- Compare the Grand Prix weekend costs with the surrounding weeks to detect price inflation. Benchmark the 2024 prices against the 2023 Las Vegas GP to identify changes.
- The full dataset can be found here>>>. Please find the full study on the site here>>>
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