The average rate of a three-night stay in Las Vegas for the Formula One race weekend is $1,372, according to Vegas Insider, a website that provides gambling odds and trends. Last year, it was $2,314.
Airbnb said its prices also have seen a significant reduction, from $1,946 for an average three-night stay last year to $533 this year.
Additionally, race tickets are 76% cheaper than last year’s inaugural race, according to the site. A standard admission ticket for today’s practice runs for the South Koval Zone starts at $99.
Las Vegas Grand Prix racing runs will take place daily through Saturday, taking over parts of the Strip and nearby roads and transforming them for a few hours each night into a 3.8-mile, 17-turn track that international F1 drivers will race down at speeds sometimes nearing 200 mph.
