Cheltenham hotels skyrocket to £891 a night as Festival frenzy grips punters ahead of biggest racing meeting of the year

PUNTERS travelling to the Cheltenham Festival will have to pay a pretty penny for accommodation, with hotel prices skyrocketing to £891-a-night.

Fans will flock to Cheltenham Racecourse in March for the most anticipated event of the racing calendar.

But finding somewhere to stay overnight is proving a hassle.

Many hotels have already sold out between March 15 and 18.

And rooms that remain are listed for a fortune.

Booking a double room at the four star Malmaison Hotel in Cheltenham for this Sunday would set you back £90.

The Malmaison is a hotel that DOES still have some rooms available during the festival.

But the same standard double room, containing a queen size bed, goes up in price by nearly ten times during the Festival.

An overnight stay on March 15, checking out on the 16th, currently costs £891.

This is listed on the website 'Trip' as containing a six per cent discount from its £953 price.

The package includes wifi and two hotel breakfasts.

Malmaison Hotel is around a 35 minute walk from Cheltenham Racecourse.

They are currently sold out on March 16 and 17.

Fans are desperate to witness the action, having missed out on last year's behind-closed-doors event.

Tickets are available to punters from £40, although the minimum for Friday's Gold Cup is set at £70.