3-night stay for room with F1 view: $30,000

Pan Pacific says it will go to charity; but it has set a benchmark for trackside hotels THAT room with a view of the Formula One race costs a bomb - $30,000 - but it was for charity. Pan Pacific set the top rate for the room when a bidder paid $30,000 for a three-night stay to catch the F1 race from Sept 26 to 28 next year. The standard room was auctioned off in a charity dinner on Sunday. Industry watchers say the amount is indicative of the interest in the F1 race. Room rates have been the subject of much speculation since the announcement by the Government that trackside hotels would be slapped with a 30 per cent levy between Sept 24 and 28. Trackside hotels include The Fullerton, Marina Mandarin, Conrad Centennial, and The Pan Pacific. When contacted on Tuesday, several of these hotels said their F1 rates have not been finalised. Among them, only Pan Pacific indicated that its guests could be forking out well over $1,000 a night for a regular room during the race period, with no guarantee of rooms overlooking the racetrack. This rate is more than double Pan Pacific's highest average room price of $455 this year. The hotel also said that its suites, which offer a view of the track, will cost over $2,200 a night. For both rooms and suites during that period, guests must stay a minimum of five nights. Industry observer Noel Hawkes, who was the general manager of the now defunct Hotel Phoenix, said in other cities which host F1 races, room rates could triple the normal rate. 'I don't think its unreasonable. It's not that exorbitant by any means,' he told The Straits Times. Several non-trackside hotels, which will pay a 20 per cent levy, have in fact set their rates and secured bookings too. Some hotels such as the Royal Plaza on Scotts, Sheraton Towers and the Four Seasons hotel, have tied guests down to a minimum stay of three to five nights. For the race season, most hotels say they will give no refunds for cancellations.