by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Mice Asia Net : October 2008
news singapore story By Mark arMsden and Bernard rosenBlooM hen the green flag dropped on the inaugural 2008 Formula One Grand Prix, more than 9000 guests caught the action from the luxury of 180 corporate hospitality suites along the pit straight and into the first three turns. Another 3000 to 4000 VIPs were even closer to the action, in the Paddock Club rubbing shoulders with teams and celebrities while experiencing all the excitement on the track from their five-star suites in the new SGD40 million Pit Building. While the September 28 race made history as the first Formula One Grand Prix to be run at night, Singapore also raised the bar as an F1 venue by staging the three-day competition like a massive MICE event. To be sure, other grand prix hosts from Monaco to Malaysia offer corporate hospitality programs when the Formula One circus comes to town, but race promoter Singapore GP, was clearly focusing on the delegates rather than fans, and with good reason. Although 65,000 grandstand and general admission tickets were available for SGD275, the revenue from their combined sales was less than a third of what the corporations were willing to pay to entertain their 12,000 guests. The Paddock Club fetched SGD7500 per person, while Marina Sky and Club Suites brought in between SGD5000-6500. Sales for the Singapore Grand Prix’s corporate hospitality packages W 4 miceAsia.net engines starts its The Singapore grand prix was more than a car race. it was a sign that the destination continues to enter a new phase of growth and innovation. were launched on November 28, 2007, and by mid-January, 126 of the 180 suites were sold. The organisers then released 3000 Paddock Club tickets, which were snapped up by the teams and major corporations eager to entertain their clients. By July, 87 per cent of all seats had been sold. Singapore Grand Prix assistant director of corporate sales, Darren Chen, credits Formula One’s status as a glamorous international sporting spectacle for the brisk sales. “As companies are always on the lookout for innovative ways of entertaining their high-end clients, what better way than to invite them to the first night race in Formula One history?” The corporations reserving the 50-person luxury suites with unrivalled views of the track covered a wide spectrum of sectors including banking, finance, legal, lifestyle, maritime and construction. “They [came] from all over the world… looking for a way to entertain their guests in luxurious surroundings. Our largest market is the UK,” Mr Chen said. “The return on investment is hard to quantify in dollars and cents. Companies like to pamper their guests in a luxurious and captive environment while enjoying the race.” Like any MICE destination trying to attract an event, Singapore had to go through a vigorous vetting process to nail down an elusive slot on the 18-race schedule. Singapore GP proved the city’s