Formula One drives Madrid hotel prices up 70%, with average rates reaching €485

Formula One has pushed Madrid’s average hotel room price to €485, a 70% increase from €286, according to figures from hotel commerce platform SiteMinder. The rise coincided with the Grand Prix weekend and came alongside a 7.5% increase in average stay length.

SiteMinder based its study on more than 13,000 bookings for stays from September 10 to 13 this year, compared with the same weekend last year. The return of a Formula One race to the capital has also encouraged visitors to plan earlier. Average booking lead times increased from 90 days in 2025 to 130 days in 2026, more than four months before the event.

Ticket prices ranging from €300 to €1,300 have helped shape the visitor profile. The figures point to travelers with relatively high purchasing power who are willing to arrange their trips well in advance. Madrid last hosted a Grand Prix in 1981, at the Jarama circuit.

“The return of Formula One is acting as an accelerator for tourism demand in the capital and shows that major events stimulate bookings,” said Tamara Jiménez, SiteMinder’s director for Spain.

Travel agencies also expect their activity to rise by 10% in September, driven by the race, the start of Imserso travel and Shakira concerts in Madrid. Air reservations have increased 46% year on year from the United Kingdom, 31% from Uruguay and 15% from Argentina, according to Amadeus Travel Intelligence. Franco Colapinto’s participation is helping attract Argentine visitors. Spanish users accounted for 37% of searches, followed by Argentina at 15% and Italy at 14%.

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The return of Formula One is acting as an accelerator for tourism demand in the capital and shows that major events stimulate bookings.