Singapore F1 hotel rates to rocket
SINGAPORE – Authorities in Singapore have confirmed the levy to be imposed on hotel room revenues during the Formula One race in Singapore next September.
After consulting with the Singapore Hotel Association, the Trade and Industry Ministry (MTI) has decided a levy of 30 per cent for hotels on the trackside, and 20 per cent for others.
Since the 11 hotels that line the track will benefit more from the race, a higher levy will be imposed.
One of the trackside hotels – Pan Pacific feels the levy befits the scale of the event.
“Our rates are not finalised yet because there are plenty of details that have not been finalised by the event (organisers). For example, whether it’s a day or night race will factor into the demand,” said Cheryl Ng, PR manager of Pan Pacific Singapore.
Work on the street circuit for the inaugural Formula 1 Singapore Grand Prix has begun.
The Land Transport Authority (LTA) will begin road works sometime next month, while the design of the paddock building is also being finalised.
Singapore will host the Grand Prix on September 28 next year.
Organisers say the 5.05km long street circuit offers a number of overtaking opportunities, fast turns and technically challenging sections for F1 race drivers.
More than 70 per cent of the street circuit is made up of Singapore’s existing road network. The paddock building will house the control tower, garages for the teams, hospitality lounges, press room and other facilities.
Said Lim Neo Chian, deputy chairman and CEO of the Singapore Tourism Board, “We have refined the proposed street circuit and submitted the plans to the FIA, the international governing body for motor sports, for its assessment and endorsement.
“Concurrently, we are combing through the details for the rest of the infrastructure works, such as finalising the design concept and construction schedule of the paddock building.”
Ian Jarrett
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