SINGAPORE: Dealmakers tired of years of Covid-19 restrictions are converging on Singapore for the year’s biggest investment conferences and Formula One (F1) – a massive party-in-the-making that’s helping push hotel rates to unprecedented heights.
Over the next 30 days, the affluent island nation plays host to a slew of conferences including the SuperReturn summit, which is charging delegates US$4,000 (RM18,122), then F1 – the first after a two-year hiatus.
It’s an ideal setting for a celebration for the well-heeled, after years of punishing pandemic restrictions and dismal markets have taken their toll.
As of yesterday, digs at top-flight venues from the Marina Bay Sands to the storied Raffles Hotel were sold out for much of the coming month – many at upwards of US$2,000 (RM9,061) a pop.
Even before that surge, accommodation costs had reached their highest in a decade. For bankers…
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