Yahoo Finance Singapore Wedding Banquet Price List (2018 Edition)
Weddings are big business in Singapore. Some people spend enough on their wedding dinner, photo shoot, gown and ring to buy a house in some Southeast Asian countries.
But the real killer is definitely the wedding banquet. And hotels know people are willing to pay big bucks to impress their relatives. So every so often, they dutifully hike up their prices, telling themselves these couples will make back that money when they receive their Baby Bonus.
We already compiled a Wedding Banquet Price List for 2017 back in June. And now, in 2018, we’re back to see just who has raised their prices and by how much.
(All prices are applicable to Saturday wedding dinners and obtained via SingaporeBrides.com)
Wedding banquets at 5 star hotels
Hotel | 2017 price per table ($) | 2018 price per table ($) | % increase |
The St. Regis | 2,340 | 2,340 | 0 |
The Ritz Carlton | 2,210 | 2,210 | 0 |
Capella Singapore | 2,104 | 2,222 | 5.61 |
Grand Hyatt | 2,104 | 2,163 | 2.8 |
Shangri-La | 1,987 | 2,104 | 5.89 |
Conrad Centennial | 1,928 | 1,987 | 3.06 |
InterContinental | 1,904 | 1,987 | 4.36 |
The Fullerton | 1,893 | 1,951 | 3.06 |
Amara Sanctuary Resort Sentosa | 1,869 | 1,869 | 0 |
Goodwood Park | 1,846 | 1,904 | 3.14 |
Four Seasons | 1,810 | 1,810 | 0 |
Pan Pacific Singapore | 1,751 | 1,869 | 6.74 |
Marina Bay Sands | 1,634 | 1,634 | 0 |
Hilton Singapore | 1,575 | 1,634 | 3.75 |
Wedding banquets at 4-star hotels
Hotel | 2017 price per table ($) | 2018 price per table ($) | % increase |
Amara Singapore | 1,398 | 1,457 | 4.22 |
Concorde Hotel | 1,398 | 1,398 | 0 |
Hotel Jen | 1,288 | 1,338 | 3.88 |
Ramada at Zhongshan Park | 1,281 | 1,281 | 0 |
Furama City Centre | 1,210 | 1,245 | 2.98 |
Grand Copthorne Waterfront | 1,210 | 1,269 | 4.88 |
Copthorne King’s | 1,163 | 1,163 | 0 |
Furama Riverfront | 1,163 | 1,163 | 0 |
Grand Mercure Roxy | 888 | 888 | 0 |
Wedding banquets at restaurants
Hotel | 2017 price per table ($) | 2018 price per table ($) | % increase |
Peony Jade at Clarke Quay | 1,018 | 1,018 | 0 |
Qian Xi Joy Garden | 688 | 698 | 1.45 |
Ban Heng Pavilion | 638 | 658 | 3.13 |
Tung Lok Seafood (Orchard Central) | 629 | 629 | 0 |
Ah Yat Seafood | 568 | 568 | 0 |
Lingzhi Vegetarian | 501 | 501 | 0 |
Wedding banquets at other venues
Hotel | 2017 price per table ($) | 2018 price per table ($) | % increase |
CHIJMES Hall | 1,763 | 1,881 | 6.69 |
ONE°15 Marina Club | 1,210 | 1,281 | 5.87 |
Orchid Country Club | 1,057 | 1,116 | 5.58 |
Serangoon Gardens Country Club | 888 | 888 | 0 |
How does this increase compare to previous years?
Since June 2017, 55% of the hotels, restaurants and venues we previously listed increased their prices.
Amongst those venues that increased their prices, the average hike was 4.28%.
This is actually low compared to previous years, when the average annual price hikes were between 5% and 10%!
In fact, with some hotels, the drop in the price hike is even more dramatic. We can see this from previous years’ wedding banquet price list.
Here’s how much Shangri-La has increased prices per table over the years:
2015 | 2016 | 2017 | 2018 | Average % increase per year |
$1,588 | $1,987 | $1,987 | $2,014 | 10.33% |
– | +25.13% | 0 | +5.89% |
And here’s how much Hilton Singapore has increased prices per table over the years:
2015 | 2016 | 2017 | 2018 | Average % increase per year |
$1,218 | $1,429 | $1,575 | $1,634 | 10.43% |
– | +17.32% | +10.22% | +3.74% |
So it seems hotels are actually slowing down their year-on-year price hikes.
Are the price hikes justified?
From November 2016 to 2017, consumer prices in Singapore increased by only 0.6%.
MAS’s Core Inflation Measure for the same period was 1.5% (core inflation excludes price changes in certain things such as accommodation and cars, so that we have a better idea of how consumer prices for day-to-day goods are changing).
So we can see that even with slowing year-on-year price hikes, venues are still increasing their charges disproportionately. It’s possible that renewed optimism about the economy in the coming year has caused them to still consider raising their fees in anticipation.
For couples about to tie the knot (or guests attending their weddings, ang bao in hand), that means you should feel the pinch a little more this year.
Do you think wedding banquet prices for 2018 are reasonable? Share your views in the comments!
The post Singapore Wedding Banquet Price List (2018 Edition) appeared first on the MoneySmart blog.
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