Up To $9,000 A Night For A Hotel Room During F1 Race?

Source : The Straits Times, Aug 14, 2007

WITH just over a year to go before Formula One motor racing roars into Singapore, local hotels have already started making plans to welcome the influx of fans, officials and other visitors.

F1 host cities, as experience has shown, are expected to have full or nearly full occupancy rates in all major hotels during the lead-up to the race and the race days themselves, as pre- and post-celebratory festivities are held.

On Monday, the Ministry of Trade and Industry also announced that 11 so-called trackside hotels that will directly overlook the race route in the Marina Bay area will have to pay a 30 per cent levy on their room revenues from Sept 24 to Sept 28 next year.

This added tax, coupled with the high demand for rooms, may well see hotels doubling or tripling their room rates during those five days.

Mr Tony Cousens, the general manager of Marina Mandarin Singapore, for example, says guests can expect to pay up to a staggering $9,000 per night for choice rooms - more so since the Singapore race will be held in the evening.

He also told straitstimes.com that the hotel has even received an enquiry from a participating F1 team looking to make the Marina Mandarin its 'home away from home' during the race.

As for the Pan Pacific Hotel, public relations manager Cheryl Ng says it already has to cope with a growing waiting list of race enthusiasts keen on securing a room even though official bookings are not open yet.

Both hotels say they are looking to other countries which have hosted F1 races before deciding exactly how much to charge for their rooms, how to set competitive prices and how to create attractive packages for visitors.

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How much are you willing to pay for a 'trackside' hotel room during the F1 race on September 28 next year?

Brace yourself - it could come out to a hefty $9,000 a night!

In fact, the 11 trackside hotels are already receiving a flood of queries from F1 enthusiasts looking to secure a room for D-day. They are now looking at their counterparts in other F1 host cities before deciding how much to charge for rooms.

Choo Ren Min spoke to Marina Mandarin and Pan Pacific hotels to find out more.