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Stock impact report

Why The F1 Las Vegas Grand Prix Is An Oasis For A Tourism Desert [Forbes]

Hilton Grand Vacations Inc. (HGV) 
Last hilton grand vacations inc. earnings: 4/30 07:30 am Check Earnings Report
US:NYSE Investor Relations: investors.hgv.com
Company Research Source: Forbes
It may cause traffic headaches and raise the consternation of locals, but since the inaugural race in 2023, the Formula 1 street course race has become the biggest annual event in Las Vegas. While requested, the announced sellout numbers for the race have not been released. Last year, it was announced that attendance was 306,000 for the race weekend, and in 2023, it was 315,000. The race comes at an important time for the Las Vegas economy. The race falls on what is traditionally considered the slowest weekend of the year in Las Vegas. But this year, the economic value is even more critical. Harry Reid International Airport, which service Las Vegas, had its steepest passenger decline since January 2021 this past October. Airport officials said the number of passengers served fell 8.2% to 4.9 million, but that was compared with October 2024, which had the second-highest passenger count in the airport's history. Overall, tourism was down 11% over the summer, and the Las Vegas Convent Show less Read more
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