Melbourne hotels are reaping the benefits of the Australian Formula 1 Grand Prix which is taking place in the city this weekend.
Marriott International, the preferred accommodation partner for the event, has reported high-level bookings over the next two weeks, with their eleven Melbourne hotels at 100% occupancy on April 1 – an incredible feat for its newly opened hotels, Le Méridien Melbourne and The Ritz-Carlton Melbourne.
Speaking exclusively to HM, Le Méridien Melbourne General Manager, Peter Minatsis, said it is very pleasing to see the hotel abuzz with activity since opening on March 16.
“We were happy to get a couple of operational weeks under our belt before we went to 100% occupancy and we had some pretty high rates as well,” Minatsis said.
“Last year, we saw Melbourne really busy over Formula One, and now we have many new hotels rooms in the city and they’re also filling up. These big events are absorbing the new supply really well. It’s exciting for us. It will be fun this weekend.”
Marriott is also the presenting partner of the Marriott Bonvoy Lounge for the fourth year. This space will give members, VIPs and guests access to behind-the-scenes experiences such as premium Practice Day and Race Day viewing, as well as an exclusive hospitality offering with an on-site mixologist and award-winning chefs.
“The partnership between Marriott Bonvoy and the Formula 1 has bolstered our occupancy and revenue as we lead into the 2023 Grand Prix event. Occupancy across our Melbourne properties is sitting at around 95% for the 30 March to 3 April period, an increase on 2022 figures which averaged 88% in the leadup and 90% over the Grand Prix weekend,” said Marriot International Area Vice President, Australia, New Zealand and Pacific, Sean Hunt.
“Our two new Melbourne properties, Le Méridien Melbourne and The Ritz-Carlton Melbourne have launched to market with truly buoyant results. Both properties are fully sold out on April 1st, demonstrating the strong demand major events drive into the city and testament to the recovery of travel, particularly in the luxury market.”
Hunt said occupancy levels have bene on the rise over the last year, led by continued demand from domestic travel.
“In February 2023, the occupancy across our suite of Melbourne properties was at 70% and March will finish higher,” he said.
“We’ve added an additional 500 rooms to Melbourne this month, creating 270 new jobs. We currently employ more than 1150 across our Melbourne hotels.”
By the end of March, Marriott’s room stock in Melbourne will sit at over 2400 keys.