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).
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:
Grand Park City Hall
Mandarin Oriental, Singapore
Peninsula Excelsior Hotel
The Stamford, Singapore
The Fullerton Hotel
Pacific Hotel, Singapore
The Ritz-Carlton Millennia,
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
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.
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.
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.
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