The VAILO Adelaide 500 has been named Supercars Best Event for the third year in a row.
This year's event – which received the top gong again at last night's national 2024 Supercars Gala – attracted a crowd of 259,400 across the four days.
Hospitality and accommodation providers are also already reporting a positive return from the 2024 VAILO Adelaide 500.
Early data revealing the Thursday, Friday and Saturday nights saw a significant increase for Adelaide accommodation providers in revenue per available room (RevPAR), a key hospitality performance measure, indicating an increase in takings for the State's tourism and hospitality industry.
Overall, hotel occupancy rates were higher this year, averaging 93.3 per cent occupied across the three nights, compared to 84.8 per cent in 2023.
Compared to 2023, the CBD and North Adelaide hotel accommodation sector recorded an 11.09% increase in occupancy rates and an 18.15% increase in average daily room rates.
The increase in RevPAR represents an extra $1.76 million in revenue for these South Australian businesses compared to the 2023 event (see table below).
The VAILO Adelaide 500 was brought back by the Malinauskas Labor Government in 2022, after it was axed by the former Liberal Government.
Since then, it has gone from strength to strength – with the 2023 event delivering a record $61.6 million benefit to the South Australian economy. This was 18.8 per cent higher than 2022, and 59 per cent higher than the race in 2020.
As put by Peter Malinauskas
It's no surprise the VAILO Adelaide 500 continues to grow in popularity, the world class event re-establishing itself as a permanent fixture in the national calendar.
We are really pleased that this year's event dramatically outperformed last year's in a few key metrics.
The 500 is back and keeps getting better than ever.
As put by Zoe Bettison
South Australia's tourism and hospitality industry is celebrating once again after last weekend's VAILO Adelaide 500; an event that brought locals and interstate visitors to Adelaide driving hotel occupancy rates to record-breaking highs.
We know South Australia has had a massive year with major events and conferences and this is the best way to end an incredibly successful 2024.
There is no doubt that all eyes are on South Australia with events like the VAILO Adelaide 500, Santos Tour Down Under, Gather Round and LIV Golf, creating real wins for our tourism and hospitality sector.
