Now that the Las Vegas Grand Prix is getting closer, it appears that the event is not sold out. This has led to hotels in the American gambling city now drastically reducing prices, which in turn has left dissatisfied fans, who have previously spent a fortune to be there.
The next stop on the Formula 1 calendar is the race through Las Vegas. The policymakers have purchased a piece of land for this purpose and signed the long-term agreement for the Grand Prix through the gambling city. Yet there is also a downside to the American party. The tickets for the event are, to say the least, very expensive and the metropolis has been open for months to complete the circuit.
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From research by Oversteer48 it appears that the 22 largest hotels are fluctuating with prices. The event is not yet sold out and that is why the relevant hotels are lowering prices. Of the 22 hotels, 21 have made extreme price reductions compared to last year, when it was announced that the Grand Prix was coming to Las Vegas. The biggest outlier is the ‘Circus Circus’ hotel, which has slashed prices by 83 percent to fill the last rooms. The average decrease across the 22 hotels is 58 percent.
Researcher Alex Gassman also reports that some fans have rebooked their hotels to take advantage of the price reduction, but other fans are stuck with their reservation, which can only be converted at high costs. According to the research, the fact that the Las Vegas GP was not sold out is not what Formula 1, but also the hotel owners, had expected.