Singapore, 7 July 2009 - Singapore GP is partnering twenty nine hotels to offer a greater degree of assurance through a Best Rate Guarantee system for visitors who are booking hotel rooms during the 2009 FORMULA 1 SINGTEL SINGAPORE GRAND PRIX.

The Best Rate Guarantee (BRG) scheme is a voluntary arrangement that promises to extend any last minute lower price deals to “early bird” customers. Under this scheme, guests who choose to book early with participating hotels will not lose out should there be any last minute room price drops during the race weekend (25-27 September). Customers who book now with participating hotels will be rewarded with the same discounts enjoyed by those who book at the last minute, should such discounts materialise.

The initiative is a result of feedback from corporate and general ticket-holders of the inaugural FORMULA 1 SINGTEL SINGAPORE GRAND PRIX last year.

Elaborating on the scheme, Mr Teo Hock Seng, Chairman of Singapore GP, said that the BRG is a “win-win” solution for participating hotels and their customers, with more hotels expected to join the scheme in the coming weeks.

“Hotels will be able to manage their inventory better with early confirmations, while visitors who want to come here to watch the race will also have a greater degree of confidence, instead of having to wait and see whether there will be any last minute price deals.”

“Across the board this year, hotels in Singapore are already offering room rates that are 30-50% lower than during last year’s inaugural FORMULA ONE race. This Best Rate Guarantee further demonstrates the commitment by Singapore hotels to provide spectators and visitors with even greater value-for-money during the race period this September, and we look forward to more hotels joining the scheme,” said Ms Caroline Leong, Director, Hospitality Business, Singapore Tourism Board (STB).

As the specific terms and conditions differ from each hotel, visitors are invited to check directly with the 29 participating hotels, which range from economy to upper tier properties.

Information on the participating hotels as well as the 2009 FORMULA 1 SINGTEL SINGAPORE GRAND PRIX can be found at www.singaporegp.sg. The full list of hotels can also be found on the www.visitsingapore.com/sgpseason/hotel_rates.html hosted by the STB.