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Macau’s hotel occupancy rate to reach 90% for Chinese New Year
Macau’s hotel occupancy rate is projected to reach 90 percent during this year’s Chinese New Year (CNY) period, especially within the Cotai region.
The city will witness an influx of visitors from 28 January to 4 February, with Wong Suk Yan, the president of the Macau Hotel Association stating that bookings are going strong ahead of the CNY.
Bookings are filling up across Macau, with particular interest being directed toward Cotai’s integrated resorts. These venues are projected to achieve around 90 percent occupancy rates. In contrast, more budget-friendly hotels are expected to see occupancy rates of 60-70 percent.
Wong said hotel occupancy rates have returned to pre-pandemic levels, similar to those seen during the same period in 2019. The hotelier anticipates peak for hotel check-ins expected to occur on 31 January, the third day of the New Year.
Room rates expected to be similar to last year
Wong Suk Yan has indicated that room rates for most hotels are expected to be similar to those of last year. However, a recent survey from Morgan Stanley has revealed that the average daily room rate (ADR) for most hotels will be 15-40 percent lower than the ADR during CNY 2024.
It is also projected to be 10-30 percent lower than during the October Golden Week in 2024. This decline in prices may be attributed to several factors, including increased competition and shifts in visitor demand.
The Macao Government Tourism Office (MGTO) is anticipating an average of 185,000 visitors per day during the CNY period. Wong believes the projection to be an encouraging sign for the city’s hospitality and tourism industries, with positive economic implications for local businesses.
Tourists are expected to attend a variety of events, including cultural, tourism, and sports festivals, further boosting Macau’s appeal as a global tourism hub.
Additionally, Macau’s new visa policy for mainland Chinese residents from Zhuhai and Hengqin has led to a sharp rise in tourist arrivals, with visitor numbers from Zhuhai increasing by over 26 percent year-on-year.
The policy, implemented on 1 January, allows residents with household registration and residence permits in these regions to apply for multiple-entry visas. These permits, valid for one year with unlimited entries capped at seven-day stays, are expected to add 20,000 daily visitors from these areas.
Wong also revealed that the industry has made appropriate staffing arrangements, owing to CNY being a peak season. She also mentioned that there is currently sufficient manpower to handle the expected holiday influx.
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