Raffles Going Top Speed on Prices for Formula 1

Action at last year's Singapore Grand Prix
Action at last year's Singapore Grand Prix

HOW much are people willing to pay to stay in a famous hotel and watch a Formula 1 car race? The revenue management team at Raffles Hotel, Singapore, reckons the answer is an astomishing S$3531 for a Palm Court Suite including breakfast. That’s the rate it is asking this Friday, Saturday and Sunday. The room normally sells for $784. According to Wotif, the next highest price being charged over this period is S$1119 for a room at the Pan Pacific while S$1118 is the asking price at the InterContinental and Swissotel The Stamford. The race itself is under the spotlight for all the wrong reasons with driver Nelson Piquet alleging he deliberately crashed during the 2008 event under instructions from Renault boss Flavio Briatore, who has quit.

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