Ready for F1 in Singapore?
-
Yar, but we are not talking about OccRates, we are talking about how is OBS going to make additional US$35 million (profit, not sales) from a F1 weekend with just 2 hotels.Originally posted by yousure??:I apologise that I missed out on the underlined section. However, the hilton and FS's have one of highest ADRs in Singapore. You can be pretty sure that the OccRates for luxury hotels will benefit whether over looking the track or not if the F1 comes to Singapore.
US$35,000,000/500 rooms/7days = US$10,000 per night (that is only sales, not profit) You think it is possible?
If you ask me if it is possible to charge US$10,000 per night at Fullerton suite over looking the marina bay and esplanade. I think it is highly possible. -
Even if Fullerton could charge US$10,000 (per night), Fullerton would then need another 499 suites (according to your calculation). Hotel rooms are not the only one to benefit - about 30% of top line revenue comes from F&B. Furthermore, if OBS gets the deal - most of the bosses and celebrities would be funnelled to his hotel. On top of that, you have the functions and banquets which will increase the F&B revenues higher.Originally posted by Gazelle:Yar, but we are not talking about OccRates, we are talking about how is OBS going to make additional US$35 million (profit, not sales) from a F1 weekend with just 2 hotels.
US$35,000,000/500 rooms/7days = US$10,000 per night (that is only sales, not profit) You think it is possible?
If you ask me if it is possible to charge US$10,000 per night at Fullerton suite over looking the marina bay and esplanade. I think it is highly possible.
If he does strike a deal with Mr Ecc, its going to be after he runs his numbers - and I am sure its not going to solely revolve around hotel room sales. -
anyone got the track's map?
-
Have you ever ask yourself why the government is involved in this project?Originally posted by yousure??:Even if Fullerton could charge US$10,000 (per night), Fullerton would then need another 499 suites (according to your calculation). Hotel rooms are not the only one to benefit - about 30% of top line revenue comes from F&B. Furthermore, if OBS gets the deal - most of the bosses and celebrities would be funnelled to his hotel. On top of that, you have the functions and banquets which will increase the F&B revenues higher.
If he does strike a deal with Mr Ecc, its going to be after he runs his numbers - and I am sure its not going to solely revolve around hotel room sales.
The reason is because OBS has already done his calculation and without government subsidizing the US$35m, there is no way OBS, HPL only any other private investors can justification for such investment, unless that somoeone, owns most of the major hotels around the circuit. ie. Fullerton, Ritz, Marina Mandarin, Pan Pacific, Oriental, Conrad, Swisshotel, Carlton, Raffles Hotel.
All the F&B, transportation, healthcare, retail will definitely benefit from F1, but why would OBS wants to be the sucker to pay the $35m fee for 7 years? -
I believe Singapore government will sponsor in the end..think about the IR..last time that LKY also say strictly no gambling in Singapore..then he see Macau and other countries benefit from the gambling business, now he LL also must build IR liao..F1 is such a lucrative sports event..it can generate tons of money in just a weekend..so why not? And did anyone watch yesterday's channel 5 news? Haha..got mention again about hosting an F1 race in Singapore as soon as 2008..
-
And take a look at this article on yahoo news dated 5 march 2007..
Singapore mulls F1 move
Singapore is taking a "very serious look" at hosting a Formula One Grand Prix to give the city-state appeal outside the world of business, a top trade official said Monday.
"The F1 is the highest echelon of motorsports and is said to be the third most watched sporting event in the world after the Olympics and World Cup," Minister of State for Trade and Industry S. Iswaran said in parliament.
"The attention and buzz that it generates will expose Singapore to a very different audience from that in the business and financial world."
While Singapore has gained a reputation as a favoured site for meetings and conventions and as an international business hub, it has to do more, Iswaran said.
"We must have an exciting and fun living environment offering not just a wide variety of quality lifestyle, leisure and entertainment options but also world class events," he said.
"This is why we are taking a very serious look at hosting a Formula One Grand Prix in Singapore."
Neighbouring Malaysia hosts a Formula One Grand Prix at Sepang as well as an A1 and MotoGP Grand Prix.
Singapore's founding father Lee Kuan Yew said two years ago that he regretted not having built a Formula One racing course that would have generated money for the local economy.
See the last paragraph? LOL..LKY regretted not building an F1 circuit..so I'm now quite sure some way or somehow, Singapore will host an F1 race in 2008..my fingers are crossed..i cant wait to see Kimi Raikkonen in action in Singapore..LOL..
P.S.: Here's the link for the article..
http://sg.sports.yahoo.com/070305/1/472kc.html -
Here's another article on CNA's website..dated 18 march 2007..that's yesterday..lol..
SINGAPORE: Many were expecting to hear the good news this weekend about the possibility of Singapore staging its first Formula One race.
But so far, no decision has been made after the F1 race in Melbourne, where Singapore government officials and some private investors have gathered.
Disappointment aside, industry watchers said the delay could have other repercussions.
Over the past few weeks, the hype about Singapore hosting a F1 race was gathering pace.
Many had speculated Melbourne was where the decision would be announced.
Now industry watchers feel the earliest date may be next week or even April.
But to the Singapore Motor Sports Association, any delay would mean less time to prepare the manpower and logistics for the race.
Tan Teng Lip, President, Singapore Motor Sports Association, said: "Since we are doing it for the first time, a lot of training needs to be done for our officials and marshals, to get them ready. This is a more critical issue."
Being a street race also means more planning in terms of crowd control and emergency evacuation.
But no matter when the decision would be made, one thing is certain – the economy, especially tourism, will get a boost.
Chris Quek, who organises tours for Singaporeans to overseas races, sees a reverse influx of fans from Malaysia and the region.
The fact that it could be a night race also gives Singapore more advantages.
"Because it is held at night, people have no choice but to stay the night. From what I heard, it will probably be a midnight race to cater to the overseas market," said Mr Quek.
Singaporeans are already gearing up for the event with a forum called "Motor Sports Asia" planned for April, and some big names have been invited as guest speakers to give insights on why Singapore should be part of the fast action.
Here's the link for the article.. http://www.channelnewsasia.com/stories/singaporelocalnews/view/264823/1/.html -
F1 will not be in SGP.
OBS is not stupid. there is no money to be made here....unless the gahmen pass the $ to OBS and he passes it as his...generally the overall economy may benefit but can u imagine OBS being generous and passes the benefits to others where he coughs out the $millions? i cannot envisage that. if it's pride he's after, then nothing to say [like chel$ki, abra guys can lose $$$mmm a year and not be bothered...)
i also mentioned in my other posts tt logistically it is going to be tough to host it on the streets of Sg. SGP roads generally too narrow and overly confined to be able to hold a race where there can be overtaking, etc. i can't think of a 5km stretch ring road that can facilitate that. that's why monaco race is one of the most boring. there's few stretches of the road where 1 can overtake a car. -
Yeah..quite true..but I would seriously hope Singapore think of something and bring Formula One to Singapore..lol..maybe build a race track..we definitely have a piece of land big enuff for it..haha..
-
Monaco is boring? u kidding or wad?
-
It is obvious that you are not a F1 fan, PERIOD!Originally posted by weiqimun:F1 will not be in SGP.
OBS is not stupid. there is no money to be made here....unless the gahmen pass the $ to OBS and he passes it as his...generally the overall economy may benefit but can u imagine OBS being generous and passes the benefits to others where he coughs out the $millions? i cannot envisage that. if it's pride he's after, then nothing to say [like chel$ki, abra guys can lose $$$mmm a year and not be bothered...)
i also mentioned in my other posts tt logistically it is going to be tough to host it on the streets of Sg. SGP roads generally too narrow and overly confined to be able to hold a race where there can be overtaking, etc. i can't think of a 5km stretch ring road that can facilitate that. that's why monaco race is one of the most boring. there's few stretches of the road where 1 can overtake a car. -
ya .. maybe at marina south area .. or tuas ...Originally posted by alleggerita:Yeah..quite true..but I would seriously hope Singapore think of something and bring Formula One to Singapore..lol..maybe build a race track..we definitely have a piece of land big enuff for it..haha.. -
on the contrary, i am a fan.Originally posted by Gazelle:It is obvious that you are not a F1 fan, PERIOD!
i supported michael s. since his benetton days and enjoy the thrill and spills of F1. i enjoyed the spat bet. damon hill and him. i keep memorabilia of of michael's merchandize like his renault and ferarri cars, helmets etc. i buy F1 magazines to read and ogle at the babes.
i watched most F1 races on telly though i must admit tt i have not been to a live F1 race nearby, esp in Msia. i dun fancy sitting on grass patch under the hot sun and have to pay for it.
u shudn't mix the two. whether i am a fan or not is not impt., but the reality is there are technical and $ obstacles. one can generalize ROI of this, but for the guys forking it out from his own pocket, it is a different proposition all together, unless he is flithy rich or the gahmen takes the money from our coffers... -
I'm sure he'll have his ways of recouping at least part of the cost.
I've yonked the circuit map from one of Gazelle's old threads:
-
err thats gonna be boring... no sweeping curve and just 90 degree turns...
-
1) Would the F1 drivers agree to race at night? F1 cars got NO headlights! F1 cars got small rear view mirrors! F1 drivers would risk their life driving in a totally new low light situation?
2) Are the roads 'flat' enough for the F1 cars? Singapore roads are 'choppy' and full of potholes and are not of the 'F1' or racing circuit quality. Can F1 cars handle the uneven and slippery road?
3) Narrow two-three lanes are not wide enough for F1 cars to overtake!
4) Singapore road is totally new. There are no simulations or past records for the F1 team to rely on! Even if farrari/mclaren willing to pay $$millions of dollar to book the race track for a day, it is nigh-high impossible, unlike other fees-collecting racing circuit! Do you think F1 driver will risk their life on a unfamiliar race track, furthermore at night!!??
5) How is the police going to control human traffic along the whole track? totally ban, only those paying $$ tickets can watch?
6) Shenton way, Esplanade, Suntec, City hall all need to shut down. Remember the recent 4million smiles convention at Suntec? What about 'terrorist' security precautions, these visitors are Multi-millionairs.
7) What can Singapore offers besides Nice hotels(Fullerton/Raffles/Marina) and Shopping center?
Most visitors will be from this region mainly Malaysia or Indonesia. Just like how some Singaporeans go to Sepang to watch the malaysia F1. Do these people need introduction to their neighbour, Singapore? They will come simply because they already know Singapore, not to learn about Singapore.
Ok...Melbourn race was shown on TV.....how many people were introduced to Australia/Melbourn thru StarSport telecast of the F1 race? Did anyone see/remember any buildings or features of Melbourn, something that makes you want to rush out to buy a ari tickek to visit Australia?
All I saw was racing cars zooming around, never did notice any interesting landmarks(even if there were, commentators will not be telling the viewer anything other than race details).
9) This race will not benefits the common Singaporean. Will you get to race on the track with your bikes/cars?
10) The only plus point is that it will generate many jobs for Singaporean. -
1. The drivers interviewed so far say they will race as long as the lighting provided is adequate, namely Alonso, Webber, Barrichello and Davidson. Night races are done in touring car series and in the USA as well.
2. The roads will be repaved with a slightly different asphalt, and even permanent circuits also have their repairs.
3. The cars are not that wide, and there are sections of the which are wide enough for passing.
4. That's what the free practice sessions on Friday and Saturday are for! F1 teams also have their own simulation programmes.
5. You can incorporate security gates, and tags for ticket holders.
6. They don't have to, have you forgotten about the underpasses? Race fans need to eat too you know!
7, 8. There are fans who come simply for the race itself. F1 fans watching on TV are only interested in the racing itself, no need to go into the touristy bits. And they come from all over the world.
The central location of the track is so much more convenient to get to and away from. If you've been to Sepang for the race you'll know what I mean.
9. That is not the point. And they will benefit intangibly. Wait til get up close to the cars, the drivers, and hear the roar of motors at 19,000rpm. It's much less formal than the IMF/World Bank conference.
10. Think again.Originally posted by kiss29:1) Would the F1 drivers agree to race at night? F1 cars got NO headlights! F1 cars got small rear view mirrors! F1 drivers would risk their life driving in a totally new low light situation?
2) Are the roads 'flat' enough for the F1 cars? Singapore roads are 'choppy' and full of potholes and are not of the 'F1' or racing circuit quality. Can F1 cars handle the uneven and slippery road?
3) Narrow two-three lanes are not wide enough for F1 cars to overtake!
4) Singapore road is totally new. There are no simulations or past records for the F1 team to rely on! Even if farrari/mclaren willing to pay $$millions of dollar to book the race track for a day, it is nigh-high impossible, unlike other fees-collecting racing circuit! Do you think F1 driver will risk their life on a unfamiliar race track, furthermore at night!!??
5) How is the police going to control human traffic along the whole track? totally ban, only those paying $$ tickets can watch?
6) Shenton way, Esplanade, Suntec, City hall all need to shut down. Remember the recent 4million smiles convention at Suntec? What about 'terrorist' security precautions, these visitors are Multi-millionairs.
7) What can Singapore offers besides Nice hotels(Fullerton/Raffles/Marina) and Shopping center? Most visitors will be from this region mainly Malaysia or Indonesia. Just like how some Singaporeans go to Sepang to watch the malaysia F1. Do these people need introduction to their neighbour, Singapore? They will come simply because they already know Singapore, not to learn about Singapore.
Ok...Melbourn race was shown on TV.....how many people were introduced to Australia/Melbourn thru StarSport telecast of the F1 race? Did anyone see/remember any buildings or features of Melbourn, something that makes you want to rush out to buy a ari tickek to visit Australia?
All I saw was racing cars zooming around, never did notice any interesting landmarks(even if there were, commentators will not be telling the viewer anything other than race details).
9) This race will not benefits the common Singaporean. Will you get to race on the track with your bikes/cars?
10) The only plus point is that it will generate many jobs for Singaporean. -
I am not sure how you call yourself a F1 fan by saying Monaco race is boring and that Singapore road is too narrow for F1. Maybe you should attend a F1 race to enrich your knowledge on F1.Originally posted by weiqimun:on the contrary, i am a fan.
i supported michael s. since his benetton days and enjoy the thrill and spills of F1. i enjoyed the spat bet. damon hill and him. i keep memorabilia of of michael's merchandize like his renault and ferarri cars, helmets etc. i buy F1 magazines to read and ogle at the babes.
i watched most F1 races on telly though i must admit tt i have not been to a live F1 race nearby, esp in Msia. i dun fancy sitting on grass patch under the hot sun and have to pay for it.
u shudn't mix the two. whether i am a fan or not is not impt., but the reality is there are technical and $ obstacles. one can generalize ROI of this, but for the guys forking it out from his own pocket, it is a different proposition all together, unless he is flithy rich or the gahmen takes the money from our coffers...
You might want to spend some time reading the previous post about returns in hosting F1 here in Singapore. Like what we have been saying, that decision to host F1 in Singapore will lies in the hand on the government not private investor themselves
As usual when government intiate something there is always people talking about coffers' money. Whats new... -
Come on lah... there are tecnological advances in lighting especially floodlights that are strong enough... and alonso and hamilton have definitely been to a night race before in the current mclaren i believe.Originally posted by kiss29:1) Would the F1 drivers agree to race at night? F1 cars got NO headlights! F1 cars got small rear view mirrors! F1 drivers would risk their life driving in a totally new low light situation?
2) Are the roads 'flat' enough for the F1 cars? Singapore roads are 'choppy' and full of potholes and are not of the 'F1' or racing circuit quality. Can F1 cars handle the uneven and slippery road?
3) Narrow two-three lanes are not wide enough for F1 cars to overtake!
4) Singapore road is totally new. There are no simulations or past records for the F1 team to rely on! Even if farrari/mclaren willing to pay $$millions of dollar to book the race track for a day, it is nigh-high impossible, unlike other fees-collecting racing circuit! Do you think F1 driver will risk their life on a unfamiliar race track, furthermore at night!!??
5) How is the police going to control human traffic along the whole track? totally ban, only those paying $$ tickets can watch?
6) Shenton way, Esplanade, Suntec, City hall all need to shut down. Remember the recent 4million smiles convention at Suntec? What about 'terrorist' security precautions, these visitors are Multi-millionairs.
7) What can Singapore offers besides Nice hotels(Fullerton/Raffles/Marina) and Shopping center? Most visitors will be from this region mainly Malaysia or Indonesia. Just like how some Singaporeans go to Sepang to watch the malaysia F1. Do these people need introduction to their neighbour, Singapore? They will come simply because they already know Singapore, not to learn about Singapore.
Ok...Melbourn race was shown on TV.....how many people were introduced to Australia/Melbourn thru StarSport telecast of the F1 race? Did anyone see/remember any buildings or features of Melbourn, something that makes you want to rush out to buy a ari tickek to visit Australia?
All I saw was racing cars zooming around, never did notice any interesting landmarks(even if there were, commentators will not be telling the viewer anything other than race details).
9) This race will not benefits the common Singaporean. Will you get to race on the track with your bikes/cars?
10) The only plus point is that it will generate many jobs for Singaporean.
benefits? Alot i can tell you especially since this is a new race. Not only that... tourist who have thoughts of coming might even be enticed from this opportunity.
Why would the tv broadcast local landmarks during the race? Even if people would like to know more, there are advances such as internet for them to know more... If before and after race, i believe there are such things... -
Even if we don't get Bernie and the F1 circus, there's still the A1 Grand Ppix series to look forward to.
-
To make F1 a reality, we need more corporate sponsors to present a good business case to government. Get the tobacco companies for sponsorships. Get the MNCs with huge advertising budgets. Look at Sepang. People laughed at Malaysia but the government there is fully committed to F1 as a prestige project and it worked out well.
-
We cannot have half-baked schemes by the government. Their place is to just provide the logistics and we should let private firms run this.
-
Becos STB and MAS were involved at the start of negotiations in 2002 without Mr Ong. Plus you would need permits to organize such an event. And its smart, in my opinion to get the govt involved from the start, becos when the event is up and running and successful, they will want to stick their thumbs in anyway - so you might as well get them to take some of the risk from the start.Originally posted by Gazelle:Have you ever ask yourself why the government is involved in this project? ...
Sorry, I did not know that you were Mr Ong's investment analyst to be able to say with such definite language that he would not be able to make a decent return from his invested capital. if I were the banks and approached by OBS to provide him with a loan for such an event... why would i want to lend to him? -
No, it hasn't woked according to plan They nearly lost hosting F1 - but last minute negotiations, SIC managed to sign a contract for another 5 years (starting this year).Originally posted by dracky:To make F1 a reality, we need more corporate sponsors to present a good business case to government. Get the tobacco companies for sponsorships. Get the MNCs with huge advertising budgets. Look at Sepang. People laughed at Malaysia but the government there is fully committed to F1 as a prestige project and it worked out well. -
Hahahahahaha....no money to be made?Originally posted by weiqimun:F1 will not be in SGP.
OBS is not stupid. there is no money to be made here....unless the gahmen pass the $ to OBS and he passes it as his...generally the overall economy may benefit but can u imagine OBS being generous and passes the benefits to others where he coughs out the $millions? i cannot envisage that. if it's pride he's after, then nothing to say [like chel$ki, abra guys can lose $$$mmm a year and not be bothered...)
i also mentioned in my other posts tt logistically it is going to be tough to host it on the streets of Sg. SGP roads generally too narrow and overly confined to be able to hold a race where there can be overtaking, etc. i can't think of a 5km stretch ring road that can facilitate that. that's why monaco race is one of the most boring. there's few stretches of the road where 1 can overtake a car.
Monaco is one of the most boring ? Hahahaha
Obviously, you know nothing about F1.