Macau hotels see strong bookings for Chinese New Year

Hotels have reported 80-90 per cent occupancy.

Macau.- According to industry reports, 80 to 90 per cent of Macau hotel rooms are already booked for Chinese New Year. Some 120,000 visitors are expected to travel to the city each day during the holiday period.

Lou Chi Leong, president of the Association of Macao Tourist Agents, said all six gaming firms have reported full bookings for the week. Chi Leong said that as well as government-organised events, each casino operator has prepared celebrations to attract visitors.

The industry anticipates an increase in room rates from 20 to 30 per cent higher compared to regular periods. Lou Chi Leong said Macau’s hospitality sector is well-equipped to meet the needs of visitors, with over 40,000 guest rooms available and a more balanced supply and demand dynamic compared to previous years.

The Chinese New Year holiday period runs from February 10 to 17. A week ago, analysts at JP Morgan predicted daily gross gaming revenue (GGR) of MOP650m (US$81m) during Chinese New Year, surpassing January’s average of MOP624m. 

January’s GGR of MOP19.34bn (US$2.4bn) was up 67 per cent year-on-year and represented the second-best monthly performance since the Covid-19 pandemic.

Hotels have reported 80-90 per cent occupancy. Macau.- According to industry reports, 80 to 90 per cent of Macau hotel rooms are already booked for Chinese New Year. Some 120,000…