<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published September 24, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Bookings for F1 weekend pick up
Trackside hotels' better showing aided partly by more affordable room rates
By NISHA RAMCHANDANI
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(SINGAPORE) Less bad, it seems, is the new good this year.
Bookings for Formula 1 (F1) weekend seem to have accelerated just in the nick of time at the trackside hotels after a dismal showing earlier this year, aided in part by more affordable room rates.
Expectations were also tempered by a sluggish economy, as companies pared corporate hospitality budgets and consumer sentiment took a nosedive.
'We're close to what we did last year, which is better than expected given the economic downturn,' said a spokesperson from the trackside Mandarin Oriental, which will have the Toyota team and management staying at its hotel.
Last year, the Mandarin Oriental had occupancy hovering around the 80 per cent mark. Room rates also start lower this year at $1,500 per night versus $1,750 last year.
On the other hand, the Marina Mandarin is 'on the higher side of 90 per cent' at the moment, the hotel said, and hopes to be full. While rates are now going at $900 - compared to $1,650 last year - the hotel rolled out an early bird promotion where some of its rooms were set aside at $600. The early bird allotment was snapped up by end March.
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</TD></TR></TBODY></TABLE>With rooms going at a more reasonable $550 per night this year, the Pan Pacific says it expects to be full for F1 weekend.
'Enquiries and reservations for accommodation during F1 continue at a good pace,' said a spokesperson for the Pan Pacific. However, the hotel did not reveal any numbers.
On the other hand, the Ritz-Carlton Millenia has just a handful of rooms available.
'After the success of the 2008 inaugural night race, we expect a close-to- sell-out situation,' said Michelle Wan, director of public relations for The Ritz-Carlton.
And the Raffles Hotel will be able to take 'very limited last minute requests' for its 103 suites, it said, adding that occupancy numbers this week are 'most encouraging.'
However, with room rates considerably lower than last year, the hotels may not necessarily be raking in the big bucks. Trackside hotels still have to pay a 30 per cent F1 levy on revenue from Sept 24-27, while non-trackside hotels need to dole out 20 per cent.
Other hotels further from the (beaten) track are also enjoying a last-minute flurry of bookings from guests who prefer to be away from the madding crowd.
The Royal Plaza on Scotts is running a full house on Grand Prix night, but has occupancies of 81 per cent and 90 per cent for Friday (25th) and Saturday (26th) respectively.
Its average room rate for this weekend is $480, over 35 per cent lower than the average price tag of $760 during the inaugural race weekend.
The Grand Hyatt is also full for race weekend, BT understands.
Meanwhile, occupancy at the Meritus Mandarin is just shy of 100 per cent, said its general manager Tan Kim Seng.
Early bird rates of $330 ceased in July, after which room rates were raised by just about 10 per cent to $360-$370.
The Hari Raya holiday has also helped, as some tourists have chosen to extend their vacation to stay for the race, added Mr Tan.
</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Bookings for F1 weekend pick up
Trackside hotels' better showing aided partly by more affordable room rates
By NISHA RAMCHANDANI
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
</TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>(SINGAPORE) Less bad, it seems, is the new good this year.
Bookings for Formula 1 (F1) weekend seem to have accelerated just in the nick of time at the trackside hotels after a dismal showing earlier this year, aided in part by more affordable room rates.
Expectations were also tempered by a sluggish economy, as companies pared corporate hospitality budgets and consumer sentiment took a nosedive.
'We're close to what we did last year, which is better than expected given the economic downturn,' said a spokesperson from the trackside Mandarin Oriental, which will have the Toyota team and management staying at its hotel.
Last year, the Mandarin Oriental had occupancy hovering around the 80 per cent mark. Room rates also start lower this year at $1,500 per night versus $1,750 last year.
On the other hand, the Marina Mandarin is 'on the higher side of 90 per cent' at the moment, the hotel said, and hopes to be full. While rates are now going at $900 - compared to $1,650 last year - the hotel rolled out an early bird promotion where some of its rooms were set aside at $600. The early bird allotment was snapped up by end March.
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'Enquiries and reservations for accommodation during F1 continue at a good pace,' said a spokesperson for the Pan Pacific. However, the hotel did not reveal any numbers.
On the other hand, the Ritz-Carlton Millenia has just a handful of rooms available.
'After the success of the 2008 inaugural night race, we expect a close-to- sell-out situation,' said Michelle Wan, director of public relations for The Ritz-Carlton.
And the Raffles Hotel will be able to take 'very limited last minute requests' for its 103 suites, it said, adding that occupancy numbers this week are 'most encouraging.'
However, with room rates considerably lower than last year, the hotels may not necessarily be raking in the big bucks. Trackside hotels still have to pay a 30 per cent F1 levy on revenue from Sept 24-27, while non-trackside hotels need to dole out 20 per cent.
Other hotels further from the (beaten) track are also enjoying a last-minute flurry of bookings from guests who prefer to be away from the madding crowd.
The Royal Plaza on Scotts is running a full house on Grand Prix night, but has occupancies of 81 per cent and 90 per cent for Friday (25th) and Saturday (26th) respectively.
Its average room rate for this weekend is $480, over 35 per cent lower than the average price tag of $760 during the inaugural race weekend.
The Grand Hyatt is also full for race weekend, BT understands.
Meanwhile, occupancy at the Meritus Mandarin is just shy of 100 per cent, said its general manager Tan Kim Seng.
Early bird rates of $330 ceased in July, after which room rates were raised by just about 10 per cent to $360-$370.
The Hari Raya holiday has also helped, as some tourists have chosen to extend their vacation to stay for the race, added Mr Tan.
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