Hotel room prices soar for F1 Singapore GP weekend, with suites going for at least $3,000 a night

We're only about a week away from the much-anticipated Formula One (F1) Singapore Grand Prix and some may be considering booking a hotel room in the area to be at the heart of the action. 

But to do so, you'll have to splash a fair bit of cash because room rates for some hotels near or in the vicinity of the race track during the F1 period (Sept 20 to 22) have more than doubled. 

For example, as of the time of writing, an average night's stay from Sept 20 to 22 at Fairmont Singapore's Deluxe Marina Bay is going from $1,888, according to the hotel's website. Typically, it costs between $500 and $700 a night. 

At Mandarin Oriental, rooms like its Premier Room with Balcony, which offers views of the cityscape, are sold out between Sept 20 and 22. A check on travel platform Booking.com shows the room going for around $1,000 to $1,200 a night on average. 

A check on the hotel's website also shows other rooms such as the Premier Suite and Family Suite going for $4,350 and $3,100, respectively, between Sept 20 and 22. 

For comparison, on the weekend of Sept 13 to 15 before F1 begins, the Premier Suite costs $1,790 for an average night's stay; and from Sept 27 to 29 (after F1), the room costs $1,513. 

Similarly, according to the site at the time of writing, the Family Suite costs an average of $1,440 per night from Sept 13 to 15 and $1,216 a night from Sept 27 to 29. 

Pan Pacific Singapore even has special night-race track-racing room offers for the Executive Marina Bay Room, Pacific Club Room, Pacific Club Studio, Pacific Club Select Studio and Panoramic Suite.

The hotel's website shows that prices for these start from $1,650 a night. The Pacific Club Studio, Pacific Club Select Studio, Panoramic Suite are already booked out for the F1 weekend.

Other hotels like The Fullerton Bay and Marina Bay Sands are also fully booked for those dates. 

Amazingly, a search on The Fullerton Hotel's website shows the Fullerton Suite going for a whopping $15,000 on Sept 21 to 22, as of the time of writing. This is almost seven times more than what it's going for before and after the F1 period, at around $2,000 a night. 

Booking enquiries poured in as soon as 2023 F1 ended 

In response to AsiaOne's query, William J. Haandrikman, managing director of Fairmont Singapore and Swissotel The Stamford, shared that the hotels started receiving bookings "as early as last year" and that many of these were regular guests. 

In fact, enquiries regarding room bookings started pouring in immediately after the 2023 F1 event was over. 

The majority of the bookings were made within two months to the event. 

The ideal location of these hotels, many of which offer views of the race track or are in close proximity to the event, is the biggest draw for guests.

"With a prime location right next to the track at the intersection of Turn Nine (referring to a section of the track), Fairmont Singapore and Swissotel The Stamford have always experienced robust demand for every Formula One season," said William. 

"Similarly, we have received very positive response in room reservations this year and will expect to be full for the race weekend." 

Across both hotels, various room categories are in demand, ranging from the lead-in of Premier Room to the luxurious Presidential Suites. 

Overall, compared to last year, the two hotels saw a "15 per cent increase" in sales for this year's F1 weekend. 

"We still have some limited availability but urge guests who want to experience Formula One up close to secure their bookings very soon," said William. 

Pan Pacific Singapore is another hotel near the race track that sees high demand. 

General Manager Melvin Lim shared with AsiaOne that the hotel typically has enquiries as early as one year in advance, right after the previous F1 season concludes. 

Even in the weeks leading up to the event, the hotel is receiving a "steady stream of bookings" even with the steep hotel room prices. 

Similar to Fairmont Singapore and Swissotel The Stamford, they too expect the hotel to be fully booked by the F1 weekend. 

"With our prime location on the track, demand has been incredibly strong and we anticipate reaching full occupancy very soon," said Melvin. 

He also shared that hotel room sales this year have increased by 3.5 per cent to date, as compared to last year's event. 

Rooms that offer a trackside view at The Fullerton Hotel Singapore and The Fullerton Bay Hotel are also fully booked.

Gino Tan, country general manager of The Fullerton Hotels and Resorts, told AsiaOne that they have limited rooms remaining at both hotels. 

They also have seen a "strong demand" for room bookings during the race period. 

"Compared to last year, we are seeing a steady pace in reservations, with bookings coming in at a similar rate," said Gino.

He shared that the hotel began receiving interest since the beginning of the year, especially for rooms with premium views overlooking Marina Bay and the hairpin turn of the track. 

As F1 activities were announced later this year as compared to previous years, the hotel has also noticed a slight increase in last-minute bookings from guests who are planning their travels around the F1 activities.

"The Fullerton Hotel Singapore and The Fullerton Bay Hotel Singapore are typically fully booked during the Formula One weekend. 

"Both hotels are in close proximity to the Formula One circuit, which has made them sought-after accommodations for those who wish to enjoy an immersive first-hand experience," Gino added.

AsiaOne has also reached out to other hotels in the vicinity, such as Marina Bay Sands and Mandarin Oriental, for more details. 

ALSO READ: F1 Singapore Grand Prix gets expanded entertainment lineup

melissateo@asiaone.com