28 hotels join forces to ensure guests get the 'best and lowest rates'
By
Lim Wei Chean
F1's first night race was set against the skyline of Singapore's Central Business district. This view from Swissotel The Stamford offers a clear look at the Singapore's Grand Prix's Turn 9 where race cars will pass the front of the hotel before heading up St Andrew's ROad. -- ST PHOTO: STEPHANIE YEOW
AFTER getting their fingers burnt in last year's Formula One (F1) race, hoteliers this year are re-working their pricing and looking for new ways to attract guests as bookings remain slow.
Industry players said the global economic downturn, coupled with tourists' experience of high rates and last-minute deals last year, may have led to a wait-and-see attitude this year.
So, to attract early reservations, 28 hotels have come together to offer those who book ahead, a guarantee that they will get the best and lowest rates.
This Best Rate Guarantee scheme, introduced on Tuesday, assures pre-booked patrons that should prices fall later, they will still be eligible for the discounts.
The hotels offering this sure-win guarantee include five hotels from the Millennium and Copthorne group, five hotels under the Far East Hospitality group and others like Rendezvous Hotel and the Victoria Hotel.
But F1 fans need to race to get their lodgings sorted as the promotion is expected to expire at the end of next month.
Race organiser Singapore GP said this initiative was taken as a result of considerable feedback gathered from ticket-holders last year. The Straits Times understands that many guests, who booked rooms early at a high rate, were unhappy to have missed out on discounts that were dished out nearer to race time.
Having learnt their lesson the hard way, hotels have reduced their asking prices by 30 per cent to 50 per cent this year in their early bird packages. For example, Rendezvous Hotel is selling its rooms at $220++ a night for F1.
Despite this, a Straits Times check with 23 hotels shows that bookings remain slow. Most hotels are hovering around the 20 per cent to 30 per cent occupancy mark with just two months to go to the Sept 25 to 27 race.
Siloso Beach Resort has filled up only 20 per cent of its rooms for the race weekend and Pan Pacific Orchard said its occupancy is 10 percentage points lower than in the same period last year.
Read the full story in Wednesday's edition of The Straits Times.
