As we all are close to say good bye to year 2016 almost each one of have our own plans to celebrate New Year. People have already made plans and done bookings for the D day and all set to welcome 2017 in style. Macau has always been a favourite destination for many to welcome New Year in a grand style and partying hard. This is one of the reasons Macau five stars witness a heavy increase during New Year. The average daily hotel occupancy rate in Macau increased by 6.6% year on year last month to hit 91.6% while the median price for a three star to five star rooms declined by 9.8% to stand at around $150 per night.
As per a report shared by the Macau Business Daily newspapers which cited official figures from the Macau Government Tourist office? As per the reports the average daily occupancy for the month of November represented a 3.5% rise month on month with three star hotels recording the highest rate of 96.5% which was 6.3% better when compared with the same period last year.
As per The Macau Business Daily reports which shares the latest figure that the average daily hotel occupancy rate for the year to end of November was 84.7% which is an improvement of 1.6% year on Year while typical prices dropped by around 13% since the start of 2017. As per the newspaper reports which explains that these figures were derived from the information provided by 42 hotels and the Macau Hotel Association and thus brought the average price for a one night stay in a three star facility to just over $105, which is a 17.7% decrease year on year.
As per the reports of analysts Vitaly Umansky, Zhen Gong and Yang Xie which comments, “While in 2012 to 2014 the week day business was dominated by junket business with largely day-tripper mass mixed in, weekend business was all the people coming on vacation, premium mass and VIP players,”“Currently, almost all the mass [market] recovery has come from play on weekends and holidays. Operators will need more hotel capacity and at some point in the future [more] gaming capacity.”
As per the President of Macau Travel Industry Council, Andy Wu Keng Kuong, who shares with the Macau Business Daily that hotel occupancy rates are expected to stay at around 80% over the coming Christmas holidays which is more or less unchanged since 2015 however the city now offers additional 4700 more rooms with the recent openings of The Parisian Macao and Wynn Palace Cotai.
