Hotels celebrate Grand Prix deal (From Banbury Cake)

Hotels celebrate Grand Prix deal

7:01pm Monday 7th December 2009

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HOTELS in north Oxfordshire are celebrating after the nearby Silverstone circuit secured the rights to stage the British Formula 1 Grand Prix for the next 17 years.

Today's deal between Silverstone’s owners, the British Racing Drivers’ Club, and F1 rights holder Bernie Ecclestone ends uncertainty over the future of the event.

The Grand Prix is the biggest event of the year for hotels in and around Banbury, which receive bookings months in advance.

More than 230,000 people headed to the historic venue off the A43 this year during the three-day event.

Anna Galvin, who has owned the Banbury House Hotel, in Oxford Road, for 15 years, said: “This is the best news we have had in a long time.

“We’re absolutely delighted. I don’t think many people are aware of just how much revenue the Grand Prix generates for Banbury.

“With the pound still weak and many of the visitors coming in from overseas, next year could prove to be a brilliant event for hotels in the area.”

Ellie Smith, manager of the Cromwell Lodge Hotel, in North Bar Street, added: “We’re all very happy about this – all my regulars have already booked for the full three days.

“The race is very important for hotels and businesses here and we would have been really lost without it. It’s the news we have all been hoping for.”

Silverstone, which hosted the first ever F1 race in 1950, got the nod after a proposed switch to the Donington Park track in Derbyshire fell through.

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