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Fall in Singapore F1 Hotel Rates?

When the news that Singapore is going to hold the first ever F1 night race came out, hotels around the track had put forth proposals that could charge the customers as high as $1,700 per night. Now, just 5 months away from the Singapore F1 Grand Prix, the local papers are reporting that the hotel rates could possibly fall after receiving unfavourable responses.

The Sunday Times, a local newspaper, reported that some hotels are considering to revise their pricing strategy after it had seemingly backfired. While some hotels have enjoyed warm responses and are fully booked for the F1 period, many of them have not even reached half of their capacity for the weekend of 26th to 28th September.

Eager fans have expressed their frustrations online, as well as to the official organisers Singapore GP. The authorities have decided not to intervene in the situation.

Aside from the high hotel rates that the customers will have to bear, they are also imposed a restriction to stay for at least 3 nights. The tickets to the race are also priced between $168 to $1,388 for a three-day pass. Compared to neighbouring country Malaysia, the entire F1 experience in Singapore could cost a fan much more than what he needs to pay for the Malaysian Grand Prix.

However, some hotels are not too concerned with the situation yet. Patrick Fiat of the Royal Plaza on Scotts, which is currently charging $960 per night for the F1 weekend, believes that the demand will pick up in June.

Comments

John Lucas (220.255.94.71) 2008-06-10 19:26:53

What is the name of the hotel pictured in this article? It looks very elegant. Thanks.

anonymous (202.156.9.3) 2008-09-23 02:30:48

dats raffles hotel singapore