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Singapore F1 Levy for 2009 Reduced to Four Nights

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The Singapore Ministry of Trade and Industry and the Singapore Tourism Board have reduced the Formula One (F1) levy on hotel room revenues for 2009 by one night, to a four-night period.

The F1 levy will be in effect from Thursday (24 September 2009) to Sunday (27 September 2009).

The rates for the F1 levy on hotel room revenues in 2009 will remain unchanged from 2008:

- 30% of the total revenues from rooms and room packages for trackside hotels; and

- 20% of the total revenues from rooms and room packages for all other tourist hotels.

Based on the current circuit design, 13 hotels will be designated as trackside hotels for the 2009 race. These are:

Carlton Hotel
Conrad Centennial Singapore
Fairmont Singapore
Grand Park City Hall
Mandarin Oriental, Singapore
Marina Mandarin
Peninsula Excelsior Hotel
Raffles Hotel
Swissotel The Stamford, Singapore
The Fullerton Hotel
The Pan Pacific Hotel, Singapore
The Ritz-Carlton Millennia, Singapore

In establishing the one-night concession, the Singapore Tourism Board consulted with the Singapore Hotel Association and recognised the industry’s concern that the hotel sector may be affected by the economic downturn.

 This concession also complements existing measures such as the STB’s S$90 million Building On Opportunities to Strengthen Tourism (BOOST) initiative, developed to help the tourism sector tide through the downturn.

Singapore’s hosting of the F1 race in 2008 generated substantial economic benefits and invaluable branding for Singapore as a tourism destination. The 2008 Formula 1 SingTel Singapore Grand Prix attracted over 40,000 overseas visitors and generated Sin$168 million in tourism receipts. The average length of stay recorded by these visitors was more than five days.

Singapore’s hotel sector benefited across the board and recorded the highest-ever Revenue Per Available Room (Revpar) of S$462 over the F1 period. This was a 132.3% jump compared to the overall Revpar in 2008.

See other recent news regarding: Airlines, Aviation, Flights, Hotels, Promotions, New Hotels, Free Deals, Cruises, Singapore

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