Corporate Packages for Singapore Grand Prix to Increase in Price

Singapore Grand Prix's highest end of corporate packages is expected to increase in price - from SGD $3500 - $7500 last year to between SGD $5000 to $8000 this year.

Corporate packages are generally swept up by corporates which buy the tickets at the trackside suites, and provide the best in terms of amenities and view to those who are willing to spend that much - most of the time big corporates which want to impress their clients. According to the Business Times, the price increases are as follows:

 "Paddock Club Suite tickets are going at $8,000 a pop this year versus the $7,500 price tag last year, according to indicative pricing details provided to corporate clients and obtained by BT.

The tickets for the Stamford suites now cost $5,000-$6,500, up from $3,500-$4,500 a year ago. At Turns 1, 2 and 3, some of the suite tickets are $500 more expensive - they were priced at $5,000-$6,500 last year. SGP is expected to officially announce its prices soon."

Chinese Grand Prix, however, has decided to cut their ticket prices after falling demands and the current financial situation. It is a strange move by the Singapore Grand Prix organisers to choose to raise their ticket prices in such a testing times, especially when it is highly possible that some of their biggest corporate clients last year could have been one of the hardest hit by the financial storm.

In a separate report on the Business Times, Singapore hotels experienced higher occupancy rates during the Singapore GP weekend, despite initial reports of brisk sales for the hotel suites. The trackside hotels, which had a heavy tax levied on them during the weekend, had initially set sky-high prices for the hotel rooms. As the weekend drew near, the hotels were seen slashing the room rates and throwing in more attractive things into the hotel packages such as free breakfasts and also shorter hotel stay period.