Las Vegas Grand Prix hotel rates have increased by more than 300%

LAS VEGAS (KLAS) — Just over a year away from the return of the Las Vegas Grand Prix F1 race, hotel room rates for the Las Vegas Strip are starting to be released.

As of Oct. 31, Caesars Entertainment is the first major hotel company on the Strip to release race weekend rates. The 2023 Las Vegas Grand Prix takes place on the night of November 18 and 8 News Now has taken a look at the weekend of November 16-19, 2023 and compared it to the same weekend this year, November 17-20.

Las Vegas hotels never have a fixed day-to-day rate. Rates are determined on demand, also known as dynamic pricing. This is why, even during a normal week, the rate for the same room can vary by several hundred dollars. The rates shown in the table below are correct as of 2:00 p.m. on November 1, 2022 and have already changed since this story was first published.

8 News Now uses room rates for the lowest published rate and average rate for race weekend. 8 News Now also does not consider resort fees.

So far, the average room rate increase, year over year, is around 305%. However, the biggest percentage increase is the Rio All-Suite Hotel & Casino which increased its room rates for this weekend by 678%, from $100/night in 2022 to $787/night in 2023.

But the most expensive cheap room is now at Caesars Palace at $1,519/night. However, this is also the smallest percentage change, 106% more than this year.

The Venetian is the second most expensive budget room at $1,499/night.

This table will continue to be updated throughout next year and in future articles about the 2023 Las Vegas Grand Prix.

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