Singapore skyline of hotels and offices

With the news of Singapore hosting its first inaugural F1 race next year, some 40000 tourists are expected for the event and the local hotels are expected to profit during that lucrative period

But it seems the government has put a damper on that however, as there will be a special tax imposed for the hotels to help the Singapore government defray the cost that was used to revamp the Marina area and also other logistics

The tax is said to be “no more than 30 per cent” per hotel room revenue. Singapore hotels are set to follow in the footsteps of hotels in most Grand Prix avenues where they raised the hotel prices by 2-3 times during F1 period

Some $20 million is expected to be raise from this F1 hotel tax per Formula One season