Melbourne’s premium hotels and restaurants are near or at capacity this weekend ahead of the Australian Grand Prix, which is enjoying a boom as women and young people stream in.
Melbourne’s premium hotels and restaurants are near or at capacity ahead of Sunday’s Formula 1 Australian Grand Prix, a sign for even the staunchest critics of COVID lockdowns that the city is finally getting its mojo back.
There is also 34,000 square metres of hospitality across the track and the event attracts a big business crowd and big spenders, including the Perth billionaire Laurence Escalante, whose social gaming business Virtual Gaming Worlds sponsors Ferrari, while Jack Zhang’s Airwallex is now a partner of McLaren.
“Last year, the Formula 1 delivered about $125 million in spending into the City of Melbourne’s economy across the four days. We’re expecting similar results this year – a huge boost for our traders across the city centre and into Carlton.”Marriott Group reported a 91 per cent occupancy rate across its 10 properties this week. International room nights make up 46 per cent, and domestic room nights 54 per cent, it said.
“Similar to the recent Taylor Swift concerts, where we saw a large increase in footfall across the resort, we expect to see similar uptake this weekend. Many racegoers will choose to stay at Crown and celebrate at our restaurant and bars before and after each day of racing,” Crown Melbourne chief executive Mike Volkert said.Ovolo Hotels director of sales Ryan Tuckerman said the four days of the Australian Grand Prix are in line with demand during the Taylor Swift tour.
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