Home Business-newBusiness Formula 1 Mexican GP will bring millionaire profits to the hotel sector in CDMX

Formula 1 Mexican GP will bring millionaire profits to the hotel sector in CDMX

by Yucatan Times
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The Ministry of Tourism hopes that the Grand Prix of Mexico will promote a hotel occupancy of more than 63% in Mexico City.

MEXICO, (November 05, 2021).- An economic spill of about 192 million pesos will leave the Mexican Grand Prix of Formula 1 to the hotel industry of Mexico City, according to data presented by the Secretariat of Tourism (Sectur) of Mexico.

“During the days that the Formula 1 Grand Prix of Mexico is held, an economic benefit of 192.1 million pesos is estimated for lodging,” informed Miguel Torruco Marqués, in charge of the Sectur.

The Grand Prix of Mexico, which will take place at the Autodromo Hermanos Rodríguez in Mexico City from November 5 to 7, will promote “an average hotel occupancy percentage of 63.7% in Mexico City, which is equivalent to 100,000 084 occupied rooms “.

The calculation was made on 631 lodging establishments located in the vicinity of the racetrack that is located in the eastern part of Mexico City.

Those 631 establishments have a total of 52,066 rooms; 5-star hotels (17,424 rooms), 4-star hotels (13,331) and 3-star hotels (10,513 rooms), and other properties of a lower category were considered.

Sectur estimates that the Mexican capital will receive 188 thousand tourists in those three days of the competition, of which 42 thousand will come from abroad.

The accumulated attendance at the Hermanos Rodríguez Autodrome during the three days of the Grand Prix is ​​expected to be 335 thousand spectators; The event will be broadcast to 200 countries, with an estimated 2,400 hours of coverage worldwide.

Secretary Torruco Marqués recalled that the current federal administration withdrew the contribution of more than 40 million dollars that the previous government allocated annually for the event that is now organized without problems by the private sector, and guaranteed that under these conditions “there will be Grand Prize until 2024 without charge to the federal treasury “.

Source: Sipse

TYT Newsroom

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