F1 News: Ticket Prices For Las Vegas GP Witness Sharp Fall - Here's Why

The excitement might have passed its peak already.

Ticket and hotel room prices have been falling sharply just a few days ahead of the Las Vegas Grand Prix, said to be the world's biggest event in 2023. Preparation for the nighttime street race which is set to take place on the Strip, has been ongoing for many months to make the event as grand as possible. 

However, the once-reported big-budget hotel room and grandstand prices have been witnessing a sharp plunge as excitement is said to have mellowed down among the people, with the biggest factor being Max Verstappen's 2023 title victory that caused a drop in enthusiasm among fans as per TickPick CEO Brett Goldberg.

As per the CNN report, TickPick claimed that ticket prices have witnessed a 35% drop in the past month for the Saturday race. The average “get-in” price dropped from $1,645 to $1,060 for grandstand seats, while tickets were priced around $2000 last year.

Not only that, but prices for the Thursday practice and Friday Qualifying display a drastic drop with the current “get-in" price dropping by a huge 50% from $385 to $180 for Thursday. For Friday, prices dropped by almost 60% from $825 to $342. 

Goldberg added that the Las Vegas GP isn't nearing record high prices like in the case of Miami. He said that “the race garnered significant buzz when it was first announced and as more details came out regarding the track’s layout on the Strip.”

Though the infrastructure pertaining to the event blocks out key highlights of the Strip such as The Mirage’s iconic volcano that is shut until December and the Bellagio’s fountains that have been turned off, Goldberg still thinks that the Las Vegas GP "presents a great opportunity for F1 fans and those visiting Vegas to attend a marquee event at an affordable price.”

According to Kayak data, the average hotel room price is somewhere around the $283 per night mark which is 24% lower than the average present last month. However, not all prices are witnessing a drop. 

The Bellagio, owned by MGM Resorts, has completely sold out a three-day luxury package priced at $12,000 per person. The package included VIP tickets, gourmet food, and wine curated by celebrity chefs and sommeliers, along with exclusive access to private viewing decks with a prime vantage point for the race.