LAS VEGAS (KTNV) — Practice rounds for the Formula 1 Las Vegas Grand Prix start Thursday, and this year there’s been a noticeable change in the air for locals and visitors alike.
Not only are accommodations a lot less expensive this time around, but hospitality workers tell Channel 13 the traffic hasn’t been too bad either.
So much does it cost to experience it all?
According to new data from Vegas Insider, the average cost for a three-night stay in Las Vegas this year is roughly 40% lower than last year. Visitors can now expect to pay approximately $1,372 for three nights, down from $2,314 in 2023.
Even more impressive, Airbnb prices have dropped by a staggering 73%, with the average cost now just $533, compared to nearly $2,000 last year.
“A lot is because of reduced demand this year," said Ben Mendelowitz, a data expert at Vegas Insider. "I’d definitely say properties are probably looking at a lower return on investment this year compared to last year. I mean it’s just shown from the data really, the fact that they drop prices so dramatically."
Impact to Locals
While the majority of locals may not be staying on the Strip, thousands of them do work there and say the traffic this year is running a lot smoother.
Channel 13 caught up with Denys Herrera, a Las Vegas Strip employee who told us after last year’s chaotic debut, when the city was buzzing with tourists and workers were stretched thin, this year has felt more organized.
“I have to leave about an hour earlier, but I'm more prepared this year than I was last year. It was a little bit crazier last year. We didn’t know what to expect or the impact that it would have on the community,” Herrera said.
