Hotel Demand Races Upwards Around Formula 1 Events

STR | April 26, 2022

Formula 1 has an ever-growing fan base, including many hoteliers who are currently witnessing a surge in occupancy on the books because of an upcoming Grand Prix in their city. Utilizing STR’s Forward STAR, we review five markets set to host a race over the course of this year, including Miami, one of our newest Forward STAR markets in North America. Through STR’s historical database, we also look at the actualized impact from a recent F1 event in Australia. North America While not at the level of Europe or the Middle East, Formula 1 is growing in popularity throughout North America. One way of observing this growth is through the risin...