Macau’s hotel occupancy rate for this year’s summer season is anticipated to surpass 90 percent, according to a local insider in the hotel industry.
Lou Chi Leong, director of the Macau Hoteliers & Innkeepers Association, shared with local media outlets that the sector holds optimistic expectations for the upcoming summer, especially from mid-July to late August, when hotels are expected to experience a significant increase in guests.
He noted that despite the increased supply of hotel rooms in Macau since the pandemic, achieving a 90 percent occupancy rate would indicate that the hotel industry’s recovery has exceeded pre-pandemic levels.
As of May 2024, Macau had 143 hotel establishments, marking a 13 percent increase from the previous year, according to the latest data from the Statistics and Census Service (DSEC). The number of guest rooms grew by 9.3 percent to 47,000, with the average occupancy rate rising by 4.9 percentage points year-on-year to reach 83.6 percent.
In a previous investment memo, UBS noted that despite the weakened gaming market in June, hotel booking data show positive momentum for the upcoming summer season. According to data from 33 hotels tracked by UBS, one-month-forward hotel prices have risen for the summer holiday period, reaching HK$3,400 ($435) per night, marking a 4 percent increase week-on-week and a 15 percent increase year-on-year.
Lou mentioned that hotel room rates would remain stable throughout the summer, without notable increases. He also noted that hotels planned to introduce a variety of promotions and discounts to attract guests during the summer holiday season.
From January to May this year, the average occupancy rate for guest rooms saw a significant year-on-year increase of 7.7 percentage points, reaching 84.3 percent. The number of guests also showed substantial growth, rising by 25 percent to 6,135,000. The average length of stay remained steady at 1.7 nights.
