Singapore hotels bullish on FORMULA One

HOTELS in Singapore are keeping their rates up for FORMULA One, undeterred by the criticism. Even the Singapore government had hinted that some of the hotels need to reassess their policies for the forthcoming Grand Prix.

Some hotel rates are at S$1,500 (US$1,071) a night, which some parties, including potential guests, find exorbitant. But hotels are confident that the rooms will be booked nearer the Grand Prix dates at the end of September.

“We are now standing above 60 percent for occupancy and, yes, we expect it to continue to rise as we are still a good three months ahead of the race,” said Marina Mandarin Singapore GM, Richard L. Dusome.

Industry observers are hoping for hotels to reevaluate their rates to avoid a dip in tourists. Hotels continue to bank on late bookings. “There are still vacancies and we have been receiving many enquiries with regard to our room rates and packages. The occupancy will continue to rise closer to the period,” said Ruth Soh, director of Communications, Mandarin Oriental, Singapore.

A spokesman of the Ritz-Carlton said the hotel is fully committed at the period of the Grand Prix. The hotel refused to comment beyond this.

Some race enthusiasts have taken their business to Johor booking rooms at hotels there. “The hotels across the causeway are definitely cheaper but they are too far away in terms of proximity. It is not feasible for guests who are here to watch the F1 races to stay in Johore as they would have to take into consideration of the jam at the checkpoints, traffic congestions, time spent on the road, etc. Moreover, there are still many hotel rooms available in Singapore,” said Patrick Fiat, general manager, Royal Plaza on Scotts.

Hoteliers are confident about the train of events that will take place in Singapore is invigorating the tourism sector.

“We are full of anticipation for the upcoming race, as it is a world-class event of firsts - the first F1 race in Singapore and the first night race in Formula One history. Playing host city to F1 and the Youth Olympic Games and also with the development of the Singapore Flyer, Integrated Resorts, et cetera, will further raise the profile of Singapore as a world class destination for businesses, events and leisure. More travellers visit Singapore for a longer period, as average length of stay increase,” said Dusome.