Suntec Reit flags near-term pressure on convention business as bookings slow in wake of Iran war

[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”. Constellar is the managing operator of Singapore Expo, the city-state’s largest purpose-built meeting, incentives, conventions and exhibition (Mice) venue.