SINGAPORE: If you’re flying into Singapore for this year’s Formula 1 Singapore Grand Prix and you still haven’t booked a ticket, good luck finding accommodations that won’t cost you an arm and a leg.
Not only is attendance for F1 expected to be up this year, but it’s also expected to cost more than usual.
Trip.com Singapore general manager Edmund Ong said that the platform has seen a nearly 60 per cent increase in the total booking volume for all products this year in comparison to 2023, as people from all across the globe are expected to fly into Singapore.
Moreover, the number of inbound flight bookings from Sept 16 to 22 has spiked by almost 90 per cent, he said, adding that while trip.com has seen more men making bookings for F1 week, the company believes interest in F1 is increasing among women as well.
But those who are coming need to be prepared to shell out some hard-earned cash. Media outlets are reporting that hotel room prices go up by as much as three times during F1 week.
For example, a room at Marina Bay Sands that normally costs between S$599 and S$749 is listed at S$2480 and S$3480 for Sept 20 and 21 respectively.
That is, if you can get it at all. The hotel’s website says it’s completely booked out for these dates.
For the well-heeled, MBS has packages ranging from S$46,500 to a truly eye-watering S$100,000 for four, five, or six nights for either two or four guests that give clients access to the practice events leading up to the night race, as well as a host of other luxurious perks.
However, these packages are sold out as well.
It seems that F1 fans take the event very seriously indeed. William J. Haandrikman, the managing director of Fairmont Singapore and Swissotel The Stamford, told AsiaOne that inquiries for 2024 bookings began as soon as the 2023 race was over.
He added that he expects both hotels to be full for this year’s F1.
Since the F1 began, the night race has brought over half a million visitors to Singapore and earned around S$2 billion in incremental tourism receipts, according to the Ministry of Trade and Industry.
But there are still rooms available to those willing to pay the price. A quick check by The Independent Singapore shows that you can book a room at the Royal Plaza on Scotts on Orchard, for example, or at Park Regis by Prince Singapore, Pan Pacific Orchard, or Pan Pacific Singapore. Just be prepared to pay more than usual, however. /TISG
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