CORRECTION: An earlier version of this story listed an incorrect price for Wynn Resorts.
LAS VEGAS (KLAS) — The Formula One bubble hasn’t burst, but the crazy hotel rates have come down quite a bit since last year.
Just two weeks ahead of the Nov. 16-18 event, 8 News Now looks back on how prices have changed — and who’s still charging the most for the most basic hotel rooms available near the race. We looked at the average room rates for a three-day stay, from Thursday night, Nov. 16., to a Sunday checkout on Nov. 20. The rates are still high enough to make your jaw drop, but they are lower than what we found last year when rates started to come out.
The rates were surveyed the night of Monday, Nov. 6. Changes are frequent based on supply and demand. These are the lowest published rates on each resort’s website. The rates do not include taxes and fees — including resort fees that can greatly increase the cost, and vary from hotel to hotel.
Wynn Resorts now tops the list, with a three-night stay averaging $2,533.33 per night. Wynn had not posted prices when we looked at rates last year.
The Bellagio is second, with rooms at $1,666 — $329 cheaper than we found last year ($1,995). The price is 213% higher than the rate charged on a normal November weekend last year.
The third-highest rate is at Aria -- a $1,467 average over the three days. That rate didn't come down as much as the Bellagio rooms, dropping only $166 since last year.
After that, Marriott's Grand Chateau ($959), the Venetian ($952.33), Vdara ($659), Park MGM ($609), the Cosmopolitan ($554.44) and Caesars Palace ($566) had the highest prices.
Of all the most expensive hotels, only the Venetian is inside the race circuit, Marriott's Grand Chateau is along the south side of Harmon Avenue on the racecourse.
None of the prices includes admission to the race. Single-day tickets run from $950 to $2,000, with several areas already sold out.
For hotels, you can go the other way and just look for the lowest rates: Rio ($74), Circus Circus ($113), The STRAT ($126.60) and Sahara ($140) led the way for lowest rates. All are far away from the event.
The real bargains -- compared to F1 race rates posted a year ago -- are at hotels that are actually charging less for the F1 race weekend than they were charging on a typical weekend in November 2022. Those include Delano ($379) and Paris Las Vegas ($253). Caesars Palace's $566 rate has already gone up by $30 -- but still well below last year's November weekend, averaging $736 a night. Paris Las Vegas is inside the racing circuit.
The Las Vegas Grand Prix is expected to be in town for the next 10 years -- at least. The Clark County Commission passed a resolution to host the race through 2032.