F1, ACL and football fuel Austin's October tourism boom
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Attendance for Formula One racing at Circuit of the Americas is typically about 400,000 over three days. Photo: Bryn Lennon - Formula 1/Formula 1 via Getty Images
October is Austin's biggest tourism month, and a packed calendar of major events could push it to new highs this year.
Why it matters: Formula One, a University of Texas football game and NBA basketball will converge this weekend, capping a packed month of major events that included two weekends of Austin City Limits Music Festival.
Driving the news: The U.S. Grand Prix, 18th round of the F1 season, takes place 3pm Sunday at Circuit of the Americas (COTA). Practice and qualifying rounds happen on Friday and Saturday.
- The No. 19 Longhorns play No. 7 Ole Miss at 6:30pm Saturday at Texas Memorial Stadium.
- The San Antonio Spurs play the Houston Rockets at the Moody Center at 8:30pm Friday.
The big picture: October generates more hotel revenue and hotel occupancy tax collections than any other month of the year, according to Visit Austin.
- The tourism bureau expects this October could be record breaking, with hotel partners reporting occupancy rates above 90% and many properties fully booked weeks in advance.
What they're saying: "Over the last decade, October's footprint has grown significantly," Wesley Lucas, director of communications at Visit Austin, tells Axios.
- "Ten years ago, the month was primarily anchored by ACL and college football," Lucas says.
- "While Formula One has been here longer than 10 years, its popularity in the U.S. has exploded over the last five to seven years," fueled largely by Netflix's "Drive to Survive."
Context: F1 racing at COTA has drawn an attendance of more than 400,000 in recent years, with roughly 70% of fans traveling from out of state or internationally, Lucas says.
- The economic boost begins before race weekend, as teams send hundreds of engineers, mechanics and support personnel to Austin to prepare.
By the numbers: F1 creates a more concentrated surge in hotel demand than ACL, which draws visitors over two weekends.
- During race weekend, mid- to upscale hotel rooms average $700-$800 a night, while citywide occupancy tops 95%, according to Visit Austin.
- Plus, 90% of short term rentals are booked this weekend, compared with 46% on a normal fall weekend, according to data from Deckard Technologies, which tracks rental data for properties across Airbnb and VRBO.
Zoom in: The influx of high-spending travelers is especially lucrative for luxury hotels.
- October is W Austin's busiest and most profitable month of the year, general manager Joanna McCreary tells Axios. Average room rates at the downtown hotel are approximately $200 higher in October than any other month.
- "Overall, W Austin is having the best October on record ever since we opened in 2010," McCreary says.
- Austin Proper is typically sold out during fall weekends, but F1 commands much higher room rates, managing director Anis Khoury tells Axios.
Between the lines: F1 visitors increasingly want experiences beyond the racetrack, Khoury says.
- Austin Proper is partnering with Tommy Hilfiger on a three-day series of dinners and music events.
- "Brands used to book space. Now they want to create an experience," Khoury says.
What's next: Austin airport officials have issued traveler advisories, encouraging passengers to arrive early because they anticipate possible record-breaking busy days at the airport.
- Monday is expected to be the busiest travel day.