Macau's Occupancy Rate Continues to Fall
Skift Take
- The average occupancy rate of Macau’s hotels and guesthouses fell by -6.3 percentage points year over year in June to a very weak 39.1%.
- Ascott Residence Trust is proposing to acquire nine quality serviced residences, rental housing and student accommodation properties across five countries from its sponsor, The Ascott Limited.
- Accor, Ennismore, and Funyard shared the early progress of their recently announced strategic partnership to develop the international lifestyle brand, JO&JOE, across China.
The average occupancy rate of Macau’s hotels and guesthouses fell by -6.3 percentage points year over year in June to a very weak 39.1%. The worst thing about that is the result will be lower than that for July. The Macau Statistics and Census Service said the occupancy rate for 5 star hotels fell by -12.2 points to 31.9%. The total number of guests of hotel establishments also fell by -10.3% in June year on year to 421,000, with mainland guests down -11.9% to 315,000 and local guests by -5.6% to 78,000. For the first six months of 2022, the average occupancy rate of guest rooms of hotel establishments in Macau fell by -12.8 percentage points year on year to 37.6%, while the number of guests fell by -22.3% to 2,624,000. The way things looked in July and so far in August combined with increasing Covid rates across “Zero-Covid” China suggests the casinos may look back at the first half of 2022 numbers and wish for those results by the end of 2022.
Ascott Residenc
