Fifteen years on, the Formula 1 Singapore Airlines Singapore Grand Prix 2024 continues to be a choice event for companies looking to charm and entertain their VIP partners in the city-state. Hotels located close to the race action and offering race-themed events and packages are benefiting most from the corporate hospitality demand.
Wong Kar Ling, chief strategy officer and managing director, Southeast Asia with The Ascott, told TTGmice that about 35 per cent of the company’s lodging reservations on the books for the race period are from the corporate segment while room nights across its Singapore properties are up 20 per cent this year over 2023.
“We also continue to see growth in the F&B, small meetings, and business events market. Ascott’s flex-hybrid hotel-in-residence model, which caters to varying lengths of stays and customer segments, has positioned us well to capture these growth opportunities,” remarked Wong, adding that properties located closest to the track and the city centre are the most popular during the races.
She pointed to Ascott Raffles Place Singapore, Citadines Raffles Place Singapore, and lyf Funan Singapore as hot favourites while the new lyf Bugis Singapore, which opened in July, has also “benefited from the pick-up in inbound travel”.
Wong said: “At these prime city centre locations, guests can enjoy convenience and easier access to the event, as well as the opportunity to experience the bustling atmosphere. This aligns with a key trend we’re witnessing across guest preferences today, where guests increasingly gravitate towards experiential travel and look for immersive stay experiences.”
A spokesperson with Pan Pacific Hotels Group (PPHG) told TTGmice that Parkroyal Collection Marina Bay and Pan Pacific Singapore are the top two gainers from the annual night race due to their prime location.
Corporate hospitality take-up at Parkroyal Collection Marina Bay remains consistent with last year in terms of room nights, venue rental, and offsite catering. The five-star hotel also continues to be engaged by the Singapore Grand Prix as one of the appointed caterers at the Sky Suites (Pit Straight).
While The Singapore Edition hotel is a distance from the Marina Bay street circuit, its curated packages for the F1 season have earned it corporate interest. According to Parveender Kaur, director of sales at The Singapore Edition, which opened in February this year, packages include premium accommodation and personalised catering services.
Hotels TTGmice spoke to have crafted packages to connect groups with the best of the race experience.
Citadines Raffles Place Singapore and The Robertson House by The Crest Collection both offer Singapore Night Race packages that come with special rates, curated entertainment, and exclusive merchandise.
PPHG has chosen to take a tasty route to the hearts of race fans. Parkroyal Collection Marina Bay’s Portman’s Bar feature a special race-themed cocktail menu with six Negroni variations, each inspired by iconic race circuits around the world. Edge Restaurant at Pan Pacific Singapore is serving a lavish Pit Stop Brunch on September 21 and 22.
Commenting on the continued draw of the Singapore night race, Kaur said: “F1’s global allure and distinctive night race format (in Singapore) make it a major draw for high-profile guests and corporate clients, and it significantly enhances the hotel’s revenue during race week by offering increased booking opportunities and greater visibility among both international and local corporate clients.”
Tapping the power of the prestigious motorsports event, The Ascott has built its second Ascott Privilege Signatures activation at the races. It will welcome top-tier Ascott Star Rewards loyalty members to the exclusive Ascott Privilege Signatures Lounge at the F1 race on September 20.
