CNY hotel room bookings robust: Analysts

The coming Chinese New Year period may see more hotel rooms booked compared to the previous year, say analysts. 

Last year, 930,000 Chinese visitors entered Macau during the seven-day holiday period.

Bernstein says it expects occupancy and ADR during the period to be higher than last year comparatively - with a greater number of Chinese overnight visitors.

According to a note from UBS, Andy We Keng Kuong, president of the Macau Travel Industry Council, believes the average occupancy of Macau's five-star hotels could be at least as high as the 95.5 percent during Chinese New Year last year with rates at least 10 percent higher year-on-year.

The increase is likely to push February GGR to a range of MOP25.7 to MOP26.8 billion (US$3.2 to $33.3 million), said Bernstein, representing a year-on-year increase of 12 to 16 percent.

The brokerage however noted that the estimate may be high.

More news from this jurisdiction

MacauThursday, Feb 22, 2018

Macau emerged as a major winner in the latest edition of the Forbes Travel Guide, with the highest number of five-star hotels, restaurants and spas.

MacauTuesday, Feb 20, 2018

Gross gambling revenue over the Chinese New Year period was disappointing, despite higher visitation to Macau, according to Bernstein analysis.

MacauThursday, Feb 15, 2018

Macau Legend Development says it expects to record an 85 percent increase in net loss for the year ended December 31, 2017, attributed to depreciation, financial and impairment costs.

MacauThursday, Feb 15, 2018

MGM China has announced the resignation of Mr. Kenneth A. Rosevear as a non-executive director of the company, effective February 14.

MacauWednesday, Feb 14, 2018

Melco has announced the payment of a one-month discretionary bonus to all eligible non-management employees, as well as a salary increase of 2.5 percent to 8.1 percent.​

MacauWednesday, Feb 14, 2018

Macau junket operator Rich Goldman saw its 17H2 profit fall 38 percent to HK$24.7 million (US$31.6 million), impacted by a significant drop in revenue from its gaming business.

MacauTuesday, Feb 13, 2018

Studio City, operated by Melco Resorts & Entertainment, today announced that it has been granted an extension of the development period under the Studio City land concession contract.