Suntec Reit flags near-term pressure on convention business as bookings slow in wake of Iran war
Wait-and-see stance and cautious spending slow bookings, but pipeline remains steady with no cancellations for Suntec and other operators
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[SINGAPORE] Convention operators in Singapore are seeing near-term pressure on booking momentum, as global uncertainty prompts corporates to hold back on event commitments.
Though there have been no immediate cancellations or postponements, the manager of Suntec Real Estate Investment Trust (Reit) told The Business Times that bookings are slower to firm up, with more organisers adopting a “wait-and-see” approach when confirming events and a more “conservative stance on spending”.
Likewise, Constellar commercial vice-president Ng Sim Lim noted greater caution among organisers, though they are generally going ahead with events rather than cancelling them “while factoring in potential variability in delegate turnout”.
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