Wedding Banquets In Singapore Will Increase Prices By Up To 20% In 2024
Those who are getting married, take note: hotels and other venues in Singapore will increase their prices for wedding banquets.
Starting from the end of this year to 2024, the rates are set to go up by about 10% to 20%.
According to an online website listing banquet prices, it may cost at least S$200 per guest for weekend events.
As a result, the market rates for wedding angbaos are expected to go up as well.
Source: The Wed Mag
Industry sources have attributed the price hikes to manpower and food costs, which have caused these venues to adjust their rates to maintain profitability.
Wedding banquets in Singapore to increase prices next year
Singapore Brides recently compiled a list of the prices that hotels and other venues will be charging for their wedding banquets in 2024.
Among the 75 locations on the list, Shin Min Daily News reported that about half will begin charging at least S$200 per guest, with 10 to a table.
A sizeable number of hotels will also increase banquet prices by 10% to 20%.
Among the most expensive hotel packages is the one from Capella Singapore, which will charge up to S$4,053 per table — over S$400 per guest.
Source: Capella Singapore
Holding a banquet at The Clifford Pier @ The Fullerton Bay Hotel, on the other hand, will set one back S$3,693 per table.
Source: The Fullerton Bay Hotel
In general, most five-star hotels on the list charge at least S$2,000 per table. Celebrating your big day at a smaller hotel will cost less than that.
Restaurant wedding package rates are also included in the list, with places like TungLok Signatures charging between S$945 to S$1,065 per table.
Increasing prices due to manpower & food costs
Speaking to Shin Min Daily News, industry sources who did not want to be named attributed the high prices to rising manpower and food costs.
The prices of ingredients have also increased by at least 20%. In addition, hotels have to outsource food items such as halal meals or roast ducks, the costs of which have spiked as well.
These venues would furthermore have to give their full-time and part-time employees higher salaries.
Together with the rise in water and electricity bills, hotels have to adjust prices to maintain a certain level of profitability.
High expectations for wedding angbaos
Unfortunately, the increasing costs of banquets may translate to higher expectations when it comes to giving newlywed couples wedding angbaos.
Huang Yuanping, a 23-year-old financial planner, told Shin Min Daily News that since she has just started working, she will be a bit more prudent when it comes to giving out wedding red packets.
She believes that the amount given in angbaos should depend on her friendship level with the couple, not just the banquet venue.
Acknowledging that wedding packages are getting more expensive, Ms Huang added that she will do her best to ensure that her angbao will not fall below the so-called market rate.
However, she thinks that it isn’t necessary to help the couple cover the cost of their banquet.
“If I am invited to a wedding banquet and it is too expensive, I will say that I’m unable to attend but send an e-angbao to show my appreciation,” she said.
Similarly, 35-year-old Zhang Weijie shared that if he were invited to a wedding banquet at a venue that was too expensive, he would politely refuse.
Also read: Wedding Guest Says Bride Asked Them To Identify Their Angbao, Finds Practice ‘Rather Rude’
Wedding Guest Says Bride Asked Them To Identify Their Angbao, Finds Practice ‘Rather Rude’
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Featured image adapted from The Ritz-Carlton, for illustration purposes only.
