The Warrnambool Racing Club is hoping a record crowd of more than 15,000 people will attend the third day of the May Racing Carnival.
Club chief executive officer Tom O'Connor said all indications pointed to a bigger event than ever before.
"Our member numbers surpassed 2021 last week," Mr O'Connor said. "We've got over 2000 full members at the moment and they are continuing to be sold on an hourly basis.
"If we could reach a milestone of 15,000 on the Thursday, it would be fantastic for the club."
General admission ticket sales are also strong, but Mr O'Connor said he hoped more punters would book online before the event.
Accommodation has been in high demand, with many providers reporting record numbers of inquiries.
Dianna McLean, owner of Allansford's Junction Hotel, said she sold out each year to return visitors.
However, she has received a flurry of calls from people keen to secure accommodation for the week.
"We've had more inquiries this year, that's for sure," Ms McLean said.
Langley's Port Fairy Accommodation Booking Service owner Jamie Langley said all of his properties had been booked out months in advance of the three-day racing carnival.
"It would have to be the first time we've been booked out for May Races, if not the first in a long, long time," he said. "I had people ringing me in February asking to book and I had to turn them back. It's unprecedented."
Mr Langley said there were about 10 groups registered on a waitlist incase of a cancellation.
"I had one guy who was trying to get in and I called him after a cancellation and he said he had to lock it in so had to go to Portland," he said. "I've told people they'll have to call even earlier next year."
A racegoer himself, Mr Langley said this year's carnival would be "absolutely fantastic". "The crowds are just going to be phenomenally huge," he said.
"With all the new facilities open and crowds back to full capacity, it's going to be one for the ages."
Raj Patel, the owner-manager of the Old Maritime Inn Best Western, said the motel had been booked out for the carnival two years in advance.
"We've had the same clients coming for to to 15 years, they re-book every year and always stay in the same room," he said.
A number of Airbnbs remain available, with some Warrnambool properties listed for up to $6000 to rent from Monday to Friday next week.
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