Macau hotels forecast over 90% occupancy as expert expresses optimism for summer season?

Jenny Ortiz July 8, 2024

Share it :

Macau hotels forecast over 90% occupancy as expert expresses optimism for summer season?

Macau’s hotel industry is expecting a surge in occupancy rates this summer, with projections exceeding 90 percent. In a Macau Daily report, Lou Chi Leong, the director of the Macau Hoteliers & Innkeepers Association, conveyed this optimistic outlook. According to Lou, the peak period from mid-July to the end of August is anticipated to see a significant influx of visitors.

Lou highlighted that the expansion of hotel room availability post-pandemic has positioned Macau’s hotel sector for a robust recovery, surpassing pre-pandemic performance if the 90 percent occupancy rate is achieved.

Last month, Macau’s tourism officials said it aims to attract 33 million visitors in 2024, representing a nearly 17 percent increase over the previous year. Helena de Senna Fernandes, head of the Macao Government Tourism Office (MGTO), attributes this optimistic forecast to China’s expansion of the Individual Visit Scheme (IVS), now encompassing 10 more Chinese cities.

China’s Special Administrative Region (SAR) also has established itself as the top casino destination this year.

Growth in hotel infrastructure?

Data from the Statistics and Census Service (DSEC) show that Macau had 143 hotel establishments as of May 2024, reflecting a 13 percent increase compared to the previous year. The total number of guest rooms has also risen by 9.3 percent, reaching 47,000 rooms. Additionally, the average occupancy rate climbed by 4.9 percentage points year-on-year, now standing at 83.6 percent.

Lou assured that hotel room rates would remain reasonable throughout the summer season, avoiding significant price hikes. The industry expert mentioned that hotels plan to attract guests through various promotions and discounts, enhancing the appeal of staying in Macau during the summer holidays.

Positive trends in early 2024?

From January to May this year, the average occupancy rate for guest rooms increased by 7.7 percentage points compared to the same period last year, reaching 84.3 percent. The total number of guests saw a substantial rise, with a 25 percent increase amounting to 6,135,000 visitors. Despite this surge in guest numbers, the average length of stay remained consistent at 1.7 nights.?

Upcoming SiGMA event: Click?here?to find out all about SiGMA East Europe powered by Soft2Bet happening in Budapest, September 2024.