Visitors continue to flock to Macau, proving the success of the city’s efforts to bounce out of its post-COVID funk.
Macau’s hotel occupancy rate could exceed 80 percent during the Dragon Boat Festival weekend, from June 22nd to 25th, says the president of the Macau Tourism Industry Association.
According to the latest research from China’s online travel agency giant, Ctrip platform, Macau and Singapore, the two famous Asian gaming hubs, are among the most popular destinations for Chinese outbound travel during the Dragon Boat Festival break. In addition, Hong Kong, Bangkok, and Tokyo were also listed as the most popular destinations for Chinese travelers.
Macau gaming operator SJM Holdings is anticipating the grand opening of Palazzo Versace Macau in the coming months, with the room inventory at its Cotai integrated resort increasing to 1,892.
Ratings agency Fitch notes that flight shortages in China have hindered international traffic, which has recovered to only 33 percent of pre-pandemic levels. However, domestic flight recovery is accelerating as air passenger traffic has reached 94 percent of 2019's average levels.
More and more investment bank studies affirm the positive impact of non-gaming activities on financial results. This time, Citigroup says there is apparently a positive impact that the Jacky Cheung concerts bring to Macau's gaming operator Sands.
As much as Macau evolves, it always needs VIP.
Esports is growing throughout Asia, and certain companies like ONE Esports are targeting the Southeast Asian contingent by personalizing content: focusing on the proper titles, language and approach to corner the market.
Daisy Ho, chairman and executive director of SJM Holdings, said she was satisfied with SJM’s financial results in the first quarter this year, despite the group underperforming its peers in Macau.