Several hotel operators are expecting a surge in hotel bookings as the 2011 Formula One Grand Prix is fast approaching.
As corporate bookings began arriving earlier this year, some of the trackside hotels are expecting to operate a full house.
“2011 sees a trend of early bookings and strong demand particularly from the corporate segment, relative to the past two years,” said Andreas Kohn, Director of Sales and Marketing at Ritz-Carlton.
“Based on the increasing take-up and already limited room inventory, we expect to be full over the weekend.”
In light of the upcoming event, Ritz-Carlton is offering a three-day package starting from S$3,150.
During a race weekend, room rates normally increase in the country as hotels have to pay an F1 tax each year, with non-trackside hotels and trackside hotels gaining 20 percent and 30 percent of room revenue respectively.
“The pick-up has been very strong this year and like past years, we are expecting to run full house over the race weekend,” quipped Lim Ee Jin, Director of Marketing Communications at the Swissotel the Stamford and the Fairmont hotels.
Rates at the Fairmont are going at S$1,250 per night, while rates at the Swissotel start from S$1,150.
Marina Bay Sands (MBS), another trackside hotel, is offering a three-night package starting from S$1,948.
“So far, we have seen a positive response from the public and there has been a healthy take-up of the room packages. We are expecting the hotel to be running at high occupancy,” said an MBS spokesman.
“We are expecting a strong mix of both corporate and leisure guests as there are several large events at MBS that lead up to the F1 weekend.”
While bookings seem to move a little slower at non-trackside hotels like the Rendezvous Hotel and Royal Plaza on Scotts, they remain positive that bookings will increase when race weekend arrives.
42 percent of Royal Plaza’s rooms have been booked for the 22 – 25 September period, but Patrick Fiat, the group’s General Manager, is anticipating a full booking.
Rates at the Royal Plaza start from S$450.
”Currently, we are still slow but we expect bookings to pick up. We were 90 percent full last year and are hopeful for a similar occupancy this year,” said Kellvin Ong, General Manager of Rendezvous Hotel.
The 2011 Formula One Grand Prix will be held from 23 to 25 September 2011.
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