ELROY, Texas -- There's good news for Formula 1 fans; hotel rooms are still available. Reports had circulated that most hotels have already sold out for that mid-November weekend. While that's true in many instances, the local company that blocks out hotels for the Circuit of the Americas says only 65 percent of its available hotel rooms have been booked.
Austin's F1 event is a little more than four months away. Hotel general managers like Kyle Covington of the Austin Marriott North in Round Rock can't wait.
"We are all thrilled Formula 1 is coming to Austin," said Covington. "We think it is a great destination for Formula 1. We think the world will get a great chance to see what a great city and great surrounding area we have here."
Of course for visitors from all over the world to see the event, they will need a place to stay.
"When you bring a world class event to a city, there's supply and demand," said CEO and Founder of Hotels for Hope Neil Goldman.
Hotels for Hope is the Austin-based firm that has contracted with Circuit of the Americas to broker hotels for the event. Right now Hotels for Hope has 150 hotels -- from Austin to Georgetown to Marble Falls to Giddings to San Antonio -- secured for race weekend.
"We have seen about two-thirds or right about 65 percent of all rooms that have been contracted under our wing have been consumed," said Goldman. "That still gives us plenty of availability right now."
That availability includes hotels that range from as little as $100 per night to $2,000 per night. Covington's Marriott is one of the hotels that turned over all of its rooms to Hotels for Hope.
"For major events it's typically the best way to handle it," said Covington. "They can, especially an international event like this, they can communicate to the world where we might not have the ability to go and communicate to the entire world and handle the availability."
Hotels not working with Hotels for Hope, like America's Best Value Inn on Koenig, are also enjoying near capacity reservations for F1 weekend. It is sold out on Nov. 17, with just a few rooms available on Nov. 15, 16, and 18. The general manager for America's Best Value Inn says his hotel rates for F1 weekend run from $400 to $500 per day.
Most hotel reps KVUE spoke to say there are always some last minute cancellations that could free up some rooms. Hotels for Hope recommends visitors who are certain they're attending book as soon as possible, because prices will only go up.