Miami hosts its first F1 Grand Prix this weekend, and thousands of fans are spending a ton just to be in town.
Event organizers project an economic impact of $400 million to the city of Miami Gardens, where the Hard Rock Stadium and track are located.
The crowds and spending are expected to surpass Miami's 2020 Super Bowl and its annual Art Basel festival, according to local officials. Miami's top hotels are charging more than $100,0000 a night for their top suites. Chefs are offering special dinners for $3,000 a plate, and night clubs are bringing in top DJs with tables going for up to $100,000 a night.
Miami organizers say many of the ticket buyers and attendees to the Grand Prix are first-time race-goers with money to burn. With hundreds of thousands of fans expected, but capacity limited to about 80,000 at the race venue, local hotels, restaurants and bars will be overrun — and are charging accordingly. Event organizers project an economic impact of $400 million to the city of Miami Gardens, where the Hard Rock Stadium and track are located.The St.
The restaurant Carbone, whose parent company Major Food Group is building an empire of glitzy restaurants stretching from Las Vegas to Miami to Hong Kong, is creating a special pop-up restaurant on South Beach for the Formula 1 crowds.
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