Montreal’s the Ritz-Carlton was launched with quite the bang on New Year’s Eve in 1912, and the party has yet to stop at this ever-chichi Golden Mile institution more than a century later.

The Ritz’s Royal Suite was also inaugurated that soirée following the bash, and while there’s nothing official about who bedded down there then, speculation is that it was some prominent captain of industry. But the suite, although altered over the years, has since drawn more than its fair share of regal figures — among them, Queen Elizabeth II and family — as well as heads of state and noted dignitaries from around the planet.

But come the annual Canadian Grand Prix here — this year taking place June 13-15 at Circuit Gilles-Villeneuve ­— it has hosted another kind of royalty: top-tier F1 drivers, high-end Hollywood celebs and CEOs, as they are among the precious few able to pony up its $18,000-a-night cost — with a four-night minimum.

Of course, this is no run-of-the-mill suite. Spread over 4,700 square feet, this mini-palace features one principal bedroom, two not-so-minor bedrooms, four bathrooms, a dining area, a separate dining and living room, and all manner of eye-catching art and antiquities over the suite’s exquisite marble flooring. And as a bonus, complimentary wireless internet and a coffee/tea maker just in case that might be a deal breaker.

Under ‘posh’ in dictionaries, the definition could well include a pic of this space.

Suffice it to say that Grand Prix week is the most impactful business period of the year in these parts, fuelling our economic engine like no other event in the city and estimated to be generating around $100 million in revenues.

A large chunk of that cash comes from tourists, mostly American and European, who get a big wallop for their buck from our dollar — in the U.S. 70-cent range — and who spend liberally with gusts to wildly at city boutiques and restaurants. Nor do they hold back on hotel room expenses, and hoteliers, ever wise to the ways of supply and demand, are able to up the ante on what they charge over this period. Regardless, our hotels are nearly fully booked for the period, and quite often reserved many months in advance of the actual race.

For the record, the Ritz’s Royal Suite can be had for a mere $12,000 a night the rest of the year — not exactly a commoner’s price but still a relative cash break.

The Ritz, with its 120 other luxurious rooms, has by no means the market cornered on lavish suites in town.

The downtown Le Mount Stephen Hotel, within eyeshot of the Ritz, has a most stately, 5,000-square-foot penthouse suite, replete with an outdoor terrace and countless amenities like an in-house butler. The hotel can even install a private gym — at a price — should its occupant so desire. The suite can go for up to $15,000 a night — gym not included, with a........

© Montreal Gazette