SINGAPORE, Sept 13 – Hotels around the Singapore Grand Prix venue are reportedly seeing a surge in prices and bookings, as Formula One fans prepare for the much-anticipated event from September 20 to 22.
AsiaOne reported that room rates have more than doubled in some cases, with Fairmont Singapore charging up to S$1,888 (RM6,275) per night for its Deluxe Marina Bay room, compared to its usual rate of S$500 to S$700.
“With a prime location right next to the track at the intersection of Turn Nine, Fairmont Singapore and Swissotel The Stamford have always experienced robust demand for every Formula One season,” William J. Haandrikman, managing director of Fairmont Singapore and Swissotel The Stamford told AsiaOne.
“Similarly, we have received very positive response in room reservations this year and will expect to be full for the race weekend.”
AsiaOne reported that Pan Pacific Singapore is also witnessing strong demand for rooms, with prices for its Executive Marina Bay Room starting from S$1,650 a night.
The hotel’s General Manager, Melvin Lim, told the news outfit that most bookings come in about a year in advance, shortly after the previous F1 season.
It said hotels located near the racetrack, such as Mandarin Oriental and The Fullerton Bay, have already sold out many of their premium rooms.
However for the weekend before and after the F1 race, room rates drop significantly. For instance, the Fairmont Singapore’s Premier Suite is priced at S$1,790 for this weekend, compared to S$4,350 (RM18,835) during the race weekend.
The surge in prices is largely attributed to the prime locations of these hotels, many of which offer views of the racetrack or are situated in proximity to the event. This has made them highly sought after by Formula One fans looking for a close-up experience of the race.
The Singapore GP Main Stage will also bring artists such as Kylie Minogue, BabyMonster, Lenny Kravitz, OneRepublic, The Corrs, Kelis and Kool & The Gang.
