Good morning. Golden Week is fast approaching, bringing with it a massive wave of visitation to Macau. Hotel bookings are already going strong, with up to 80 percent of rooms already booked for the holiday period. Analysts are reassuring that Macau’s operators are still stable, despite some recent headwinds. Meanwhile, the saga of Alice Guo is beginning to come to an end, following her arrest in Jakarta. She’ll now need to face the music for her actions and flight, back in the Philippines.
What you need to know
- Ahead of October’s Golden Week, CLSA notes robust hotel bookings in Macau, with 80% of rooms booked and average rates reaching $499.
- ‘POGO mayor’ Alice Guo has been arrested in Jakarta and is expected to be deported to the Philippines to face charges.
On the radar
- Thailand’s King gives the green light to Paetongtarn Shinawatra‘s new cabinet.
- Philippine lawmakers are eager to question “POGO Mayor” Alice Guo following her arrest.
- The Star reviewing its financial and liquidity position with advisors.
- Philippines sees 3.3M international visitors in the first eight months of 2024.
AGB Intelligence
MACAU
Macau hotel bookings strong ahead of Golden Week
Hotel bookings in Macau are already proving to be robust, ahead of the Golden Week period set to start on October 1st. Average room rates during the period are approaching $500, with all six operators standing to get a healthy portion of the visitation. Analysts are also confident in the gaming sector, despite recent headwinds, saying the market is resilient and levels are sustainable.
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