Racing for a Hotel Room: How Formula 1 Grand Prix Weekends Drive Hotel Rates to Double
As Formula 1 gears up for another thrilling season, Simon-Kucher examines its impact on hotel pricing trends.
[London, 11 March, 2025] – Simon-Kucher, a leading growth consultancy, unveils hotel pricing trends in Formula 1 (F1) host cities during Grand Prix (GP) weekends. Drawing insights from 2,800 hotels across 24 GP destinations, the study highlights F1’s impact on the tourism sector, illustrating how race weekends become high-impact events for both fans and hoteliers.
Two months before the season kicks off, a third of hotels (32 percent) across all host cities are already sold out, highlighting strong demand and the importance of booking early. “The findings underpin the importance of major events for the UK hospitality industry as they face continued headwinds in 2025. While inflation is still hitting consumers' overall budgets, we are seeing them fiercely protecting their spend for experiences such as sports events.” says Rosalind Hunter, partner at Simon-Kucher.
Hotel price ranking grid:
- The UK revs up for race weekend: GP events in the UK see hikes in hotel prices of over 200% in and around Silverstone, when compared to the previous weekend.
- Canada and Abu Dhabi lead the grid: With rates exceeding €1,750 per night, Canada opens a significant gap ahead of Abu Dhabi, where the average rate stands at €694 per night. Close behind are the U.S. GP and the Belgium GP, with average rates of €682 and €633 per night, respectively.
- Asia, Europe, and the Middle East dominate the remaining top 10: GP events in Australia, Azerbaijan, Monaco, Miami, and Spain feature hotel rates ranging from €400 to €500 per night.
- China and Brazil offer more affordable options: With average nightly rates of €141 in China and €122 in Brazil, these Grand Prix destinations provide the most affordable stays for cost-conscious travelers.
Hotel surge ranking grid:
- Azerbaijan’s GP leads in price hikes: Its average rate nearly quadruples, followed closely by Japan (+276 percent) and Belgium (+237 percent).
- Premium destinations see more moderate increases: Locations with regular rates above €300 per night, such as Miami, Italy, and Abu Dhabi, experience price hikes of less than 100 percent.
- China bucks the trend: Despite being the most affordable destination, China experiences only a modest five percent increase during race weekend.
“As the GP gains global popularity, spanning 24 locations, the tourism sector is seizing the opportunity to capitalize on this major event," comments Carlos Fernández, Senior Manager at Simon-Kucher "To fully leverage these opportunities, it is essential to track demand closely and adjust pricing in real time. A dynamic and agile approach will enable hotels to maximize value during these demand surges, particularly amid a backdrop of slowing occupancy."
Complete study findings are available upon request.
About the research: the analysis by Simon-Kucher covers prices from over 2,800 hotels across the 24 Grand Prix host destinations ahead of 2025 season.
Janine McCormac
Email: janine.mccormac@simon-kucher.com
About Simon-Kucher
Simon-Kucher is a global consultancy with more than 2,000 employees in 31 countries. Our sole focus is on unlocking better growth that drives measurable revenue and profit for our clients. We achieve this by optimizing every lever of their commercial strategy – product, price, innovation, marketing, and sales – based on deep insights into what customers want and value. With 40 years of experience in monetization topics of all kinds, we are regarded as the world’s leading pricing and growth specialist.