With one of the biggest horse races in the country just around the corner, hotel price comparison platform, HotelsCombined analyzed the hotel rates for the popular race weekend in Louisville, Kentucky and discovered that on average the price of a hotel room for one night on Kentucky Derby weekend is 340% higher than the previous weekend.
Further analysis determined that despite the steep price increase hotel prices are 10.5% lower for this year's race weekend compared to last year.
“The Kentucky Derby is one of America’s most popular events on the sporting calendar and as with any big event demand for hotel rooms increases, as do prices, as people travel from across the country and the world to witness the popular event, ” said Chris Rivett, travel expert at HotelsCombined.
“The price inflation for Kentucky Derby weekend is a reflection of the event’s popularity,” added Rivett.
HotelsCombined analyzed the price of three hotel rooms at three different hotels* on Kentucky Derby weekend and the weekend prior (that still have availability) to get an understanding of what consumers are paying to be part of one the longest running sporting events in the United States.
With HotelsCombined occupancy rates sitting at 91% for the big race weekend, it’s clear that Americans and international travelers are willing to pay a premium price to witness the first of the Triple Crown races.
*The hotel prices above were collated on 20.04.17. Prices and availability might have changed since these dates.