(Bloomberg) — Formula One took over Miami for the first time this weekend, and its debut brought in stars as the city’s entire hospitality industry flexed its sizable muscles for several days of partying from the track to the beach.
Grand prix organizers projected that the race would bring about $400 million in economic impact to the area, and its famously wealthy fans indulged in a high-end spin on the city’s usual party fervor.
David Grutman, the man behind some of Miami’s trendiest restaurants and nightclubs, expects hospitality businesses to see a bump of up to 30% over what they normally do, aided by the rush of corporate sponsors looking for a piece of the action over the weekend.
“Any time you have an influx of corporate money and people activating events around, it’s the best for the city,” said Grutman. Or, as Miami native and baseball legend Alex Rodriguez told Bloomberg: “Nothing has rocked this city like F1.
I’ve never seen anything like it.”
Mayor Francis X. Suarez said at a Bloomberg event on Friday the race tops off two years of work, since real-estate developer and Miami Dolphins owner Stephen Ross and his Hard Rock Stadium first came to the preliminary agreement with F1 in 2019.
The local government has worked to attract asset management firms, venture capital funds, and the cryptocurrency industry in an effort to become a global technology hub. “It’s really the icing on the cake on 24 months of hypersonic growth that we’ve seen here,” said Suarez.
On race week, much of the action and star power was centered in Miami Beach.
New York restaurant Carbone, part of Major Food Group’s empire, opened a special beach location that had particular decadence. On the Thursday kickoff night, Ivanka Trump and Jared Kushner milled about the bar area as guests who paid $3,000 a seat plucked lobster and caviar from ice sculptures.
Carbone flew in Italian opera singer Andrea Bocelli as the night’s surprise performer. Once most people had left after eating their pasta and steak, LeBron James (in full Miami-mode in a bucket hat) showed up to hang with friends.
He came back the following night too, adding to a lineup that included Derek Jeter, Dwyane Wade, Gabrielle Union, Patrick Mahomes, David Beckham and Wyclef Jean.
Crypto platform FTX held a three-day festival on the sand in South Beach with food during the day and a EDM dance parties at night from DJs like Disclosure, Kaytranada, and Jamie XX.
Poolside at the Fontainebleau hotel, where guests rented lawn pods for $10,000, suites for $20,000 and an island cabana for $60,000, Calvin Harris performed a DJ set that drew the influencer crowd. The guys from the Last 2 Leave creator house looked up to see an aerial light show, as drones buzzed around to make shapes before coalescing into the logo for Johnnie Walker whisky.
Formula One Finally Found a Way to Get Americans to CareAustin Mahone, the singer and YouTuber who has more than 11 million followers on Instagram, told Bloomberg that being at Fontainebleau was “just a lifestyle that I love to live.” He’d be meeting up with Tony Parker, the former NBA star, for the race.
“We’re team Ferrari. Go Ferrari,” he said. “This is exactly what Miami needed.”
Unlike U.S. sports centered around primetime television, most Formula One races are held in daylight, aside from the night races in the Middle East and Singapore.
That leaves plenty of time to prep for after-hours partying, a Miami specialty. The clubs brought in high-profile performers and were packed throughout the weekend. Grutman said the biggest difference is VIP over general admission, with a lot of sky-high minimums for anyone who wants a table.
Snoop Dogg, Rick Ross, and Diplo each performed at downtown Miami club E11even, which on Saturday night saw the return of Travis Scott to the stage on for the first time since the tragedy at his Astroworld festival in November.
He grabbed a mic at 3 a.m. and told everyone in the crowd to “lose their mother**** minds.” With the likes of influencer and boxer Logan Paul and Travis Kelce from the Kansas City Chiefs on hand, Scott consistently instructed the crowd to take shots while holding a bottle of Don Julio. At one point Quavo from Migos joined him on stage.
Then there’s the actual track.
The Miami International Autodrome that weaves its way around the arena is assembled just for this event, on private land that would normally be a parking lot when the Dolphins play on Sunday afternoons.
U.S. sporting events have been adding more upscale hospitality than ever to their venues—just look at the five levels of suites at AT&T Stadium in Dallas—but the temporary nature of the grand prix setup allowed organizers to go all-in.
At many races, like in Imola, Italy and Spielberg, Austria, the fans are fully focused on the track. Less so in Miami.
Right before the drivers took to the track to qualify, rapper Post Malone performed for a crowd at a pool party section, where people ordered food and bottle service to their cabanas.
Restaurant Casa Tua set up a private trackside club at the exit of pit lane. Celebrities like Tom Brady, Michael Jordan, Bad Bunny, Shawn Mendes, and Pharrell watched from the paddock or the Palm Club.
But the talk of the weekend was the fake marina, a dry dock compete with fake water, made to replicate the vibe of the real yacht parties that go on during the race in Monaco.
After Red Bull’s Max Verstappen took home first place in the race and stood on the podium to receive his trophy—and a signed helmet from hall-of-fame Dolphins quarterback Dan Marino—Latin pop star Maluma and the Chainsmokers put on shows to close out the theatrics, just in case there weren’t enough.
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