Hotel profits to fund Singapore Grand Prix

A levy on hotel revenues will assist in financing the world’s first night-time Formula One grand prix to be held in Singapore next year.Trackside hotels will provide 30% of the revenues from rooms and room packages and all other tourism hotels are thought to be paying 20%. The exact route of the course has yet to be confirmed.

The event will be held on September 28, 2008 over a five-night period.
Following consultation with the Singapore Hotel Association, the Ministry of Trade and Industry said it is “mindful that hotels should be able to keep a significant share of the upside.