The average nightly room rate at Macau hotels and guest houses during the autumn holiday week encompassing China’s National Day, fell 5.1 percent year-on-year to MOP1,842.30 (US$227.58). The average nightly occupancy rate exceeded 90 percent, noted the Macao Government Tourism Office (MGTO) in a Tuesday release.
As of that date, Macau had a total of 41,015 operational rooms provided by hotels and guest houses, MGTO noted. Most of the major casino hotel properties on Macau peninsula and the Cotai Strip respectively, are either four-star or five-star venues.
The so-called autumn Golden Week period includes China’s National Day on October 1, which this year fell on Tuesday. China’s State Council declared the 2019 holiday period as running for seven days, i.e., October 1 to 7.
During the vacation period, the average room rate of Macau’s five-star hotels decreased by 1.5 percent year-on-year to MOP2,235.50; while that of the four-star hotels dropped by 22.7 percent year-on-year to MOP1,195.40, the steepest decline when compared to the other tiers of hotels, according to MGTO’s information.
In terms of occupancy levels, the average for all tiers of Macau hotels and guest houses recorded a year-on-year increase during autumn Golden Week. It was 94 percent, with that for five-star hotels reaching 95.2 percent, up by 1.2 percentage points when compared to a year earlier.
Visitor arrivals to Macau during the whole of autumn Golden Week 2019 increased by 11.5 percent, a tally of approximately 985,000, the provisional data show. Visitors from mainland China totalled 798,000 in the period, up by 9.4 percent year-on-year
Autum Golden Week has in recent years typically seens a spike in visitor traffic and casino gross gaming revenue in Macau, but several brokerages noted in Tuesday commentary that gross gaming revenue for the industry during the period appeared weaker than a year ago.
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”Many investors cite Golden Week as a catalyst to significant, sustainable visitation increases and a showcase for profitability for many casinos [in Macau]... However… we are concerned recovery estimates may again be pushed back”
Analyst at Roth Capital Partners