After F1: Inside COTA's Year-Round Business Playbook—Theme Park, Private Club, Concerts, Resort and More
This past weekend, Andrea Kimi Antonelli won the F1 United States Grand Prix. The Circuit of The Americas (COTA) in Austin, Texas, hosted the event for the 14th time.
After Sunday's race, the grandstands and paddock gradually emptied, and the circuit returned from its busiest few days of the year to daily operations.
But for COTA, the real business question did not end with the race: a permanent circuit requires massive investment, yet attendance and revenue are highly concentrated in a few race weekends—how can it continue to attract people and generate cash flow on non-race days?
This is the core of COTA's transformation in recent years. Through COTALand, music performances, driving experiences, a private membership club, and resort facilities, it is turning the circuit into a year-round destination.
On August 24, global investment firm The Carlyle Group (Carlyle) provided expansion funding to COTA through its Global Credit platform to accelerate the opening of COTALand, fund a water park, and support a longer-term on-site resort project. COTA's ownership structure remains unchanged.
COTA Today
In the past, the F1 United States Grand Prix lacked a stable home until COTA came along.
Since Sebring hosted the first United States Grand Prix in 1959, eight venues had tried to become a permanent home, all without success.
In 2012, COTA hosted the United States Grand Prix in Austin for the first time. In its early seasons, COTA also failed to win over American fans. But today, COTA has gradually established itself. Under the current contract extended to 2034, by the end of the deal COTA will become the longest-running venue in the history of the United States Grand Prix.
In its 2025 renewal announcement, F1 said that in the first decade after the United States Grand Prix joined the COTA calendar, it generated about $7 billion in economic impact for Austin and Texas.
Tom Noonan, President and CEO of Visit Austin, the city's tourism bureau, expects the economic impact this weekend to approach $1 billion, about half of which comes from direct spending.
Today, COTA's racing business is no longer limited to F1; NASCAR, MotoGP, and the World Endurance Championship (WEC) all hold events here every year.
The COTA site covers 1,500 acres. Beyond racing, the venue can host concerts and music festivals. It also has parking for 25,000 vehicles, concession stands, restrooms, and an excellent hospitality team.
According to COTA, the circuit receives an average of about 1.3 million visitors per year, but the ultimate goal is to raise annual visitation to 3 million by 2030.
Theme Park Attracts Non-Racing Fans and Children
On September 26, about four weeks before this year's Grand Prix, COTALand, a theme park located between Turns 19 and 20 of the circuit, officially opened. It covers 30 acres and features 34 rides, including five roller coasters.
Circuit Chairman Bobby Epstein believes visitors will be "amazed" by the new attraction, but its greatest potential lies in increasing COTA's appeal to non-racing fans.
"In the first year, our expectation is that people come to COTALand, have a great experience, and at the same time we see annual attendance grow to more than 1 million," he said. "Many of those visitors are children, and they'll be excited by what they see next to the theme park and say, 'Hey, maybe we should come back and watch a race.'"
"Building this amusement park next to the circuit will pay off for us in five years, in ten years."
Ensuring Race Weekend Is Exciting Enough
Ensuring the race weekend itself is exciting enough is equally important—perhaps even more so.
In recent years, the United States Grand Prix has typically attracted about 430,000 fans per edition, making it one of the most-attended events on the F1 calendar. This year's attendance is close to a record high for the circuit.
Bobby Epstein said that more than 10,000 people camp along the circuit over the weekend, so maximizing entertainment beyond the race is crucial.
— Grand Prix Build-Up Events
This year added a "Grand PrixView Thursday" event, designed to bring fans to the site early and build momentum for the race weekend. Weekend ticket holders can attend for free, while the general public pays just $20.
"It does two things for us," Bobby Epstein explained. "First, it gives local community members who have never been to the venue and are curious about what this place is and what F1 is... a chance to come take a look."
"But it also allows us to run another equally important program. That day we bring in 8,000 students... half a day is dedicated to students, giving them a chance to interact with teams and F1 Academy, and hear from engineers and marketing teams. It's an opportunity to inspire students and make the day truly meaningful."
— F1 Academy Series
The F1 Academy series will also be part of the race weekend. It marks its return to COTA for the first time since its inaugural season in 2023, giving the circuit a chance to further attract its growing female fan base. According to F1 data, women make up about 75% of new fans globally.
— Music Performances
The race weekend also features a full slate of music performances. Since Taylor Swift set what was then a record attendance at COTA in 2016, music has been an effective tool for race promoters. Last weekend's performers included Post Malone, Maroon 5, and Alesso.
Bobby Epstein said: "People who have been to COTA events and the United States Grand Prix find that the ticket is worth it and there's so much fun on site. They tell their friends, and people come back—we have a lot of repeat customers."
Upgrading High-End Hospitality
— The Circuit Private Membership Club
COTA plans to launch The Circuit, a private club limited to 250 members, in 2027.
During this year's United States Grand Prix, COTA's new clubhouse for The Circuit at Turn 1 was put into use. Since joining the calendar, COTA's Turn 1 has become one of F1's most recognizable corners.
The Circuit is valued at about $14 million. It is a four-story building of just under 5,100 square meters, featuring restaurants, two pools, driving and golf simulators, and an aerial gondola connecting to the paddock.
Members can use the circuit and related facilities year-round according to the club's schedule, participate in bespoke driving experiences, and enjoy dining and high-end hospitality services. COTA has not yet announced membership pricing, but Bobby Epstein said it will likely become the most expensive motorsport club in the world.
In the past, COTA would temporarily rent the circuit to interested groups, a model Bobby Epstein likened to "running on a hamster wheel, constantly looking for the next tenant."
"For our business, when we think about long-term stability, I think this model is more sustainable and more likely to succeed than the hamster-wheel rental model," he said.
Members will also get skip-the-line access at COTALand, effectively connecting two new year-round products at the circuit.
— Paddock Club
Inside the Turn 1 clubhouse, there is also a dedicated Paddock Club area, which, together with the existing Paddock Club above the pit lane, expands the event's high-end hospitality capacity. This was also a key project when COTA negotiated its contract extension with F1 through 2034.
Paddock Club is F1's official hospitality product for corporate and high-end guests, typically including premium viewing positions, catering, exclusive lounge areas, and some team interaction experiences.
"They wanted to expand their Paddock Club," Bobby Epstein said. "And I think F1 CEO Stefano Domenicali shares my desire to create unusual, special experiences. Building the new Paddock Club at the top of the Turn 1 hill was part of our contract renewal negotiations."
A three-day general admission ticket costs about $400 to $450, while Paddock Club packages start at $6,386.
Rendering of COTA's new clubhouse at Turn 1
There are other investments around the COTA circuit.
The first phase of the T11 motor condominium community at COTA's Turn 11 was delivered in 2024, selling ownership units with private garages, vehicle display, and social spaces to car collectors. Phase two is still on sale.
Global real estate development and investment firm RIDA Development Corp is building a $985 million resort next to the circuit, including a hotel with 1,000 rooms and a 170,000-square-foot convention center.
COTA even has plans to open a water park.
"I think we are healthier now than ever before," Bobby Epstein said. "We add a little something new every year. We're excited about the new elements in this year's event; they make the race bigger, more fun, and attract a broader audience."
| Sources: BlackBook Motorsport, Formula 1, Carlyle, COTA official website, Sporte Finanza
| Image credits: Formula 1, COTALand, Premier, COTA official Instagram