Hospitality sales at Formula 1 are in the red again | Mail Online
Formula 1's corporate hospitality operation Beta Holdings saw pre-tax losses treble to $5.2 million (£3.15 million), according to accounts for 2010.
Despite the addition of new races in Canada and South Korea, revenues stalled as sponsors cut spending on corporate hospitality. F1 is majority owned by private equity firm CVC and the accounts reveal that it has racked up a combined $200 million loss since it was acquired in 2006.
Beta Holdings' turnover last year nudged up by just $3.2 million to $153.5 million, but this was not enough to compensate for a 3.3 per cent rise in costs
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