Macau Casinos Experience High Demand as Golden Week Approaches
Skift Take
- Macau hotels experience high demand during Golden Week, with standard rooms sold out for at least three nights at 22 casino-associated properties, some offering rooms at around US$400 per night.
- Samhi Hotels raises Rs 1,370 crore through an IPO, with plans to use the proceeds for debt repayment and corporate purposes, resulting in a 7% trading increase from the IPO price. Blue Chandra Pte Ltd. also sells 50% of its equity holdings in SAMHI.
- Marriott International opens a Four Points by Sheraton resort in the Philippines and rebrands Le Meridien Phuket Mai Khao Beach Resort in Thailand, while Hilton debuts the Hilton Maldives Amingiri Resort & Spa. Hyatt announces the construction of the Hyatt House South Melbourne in Australia for a 2025 opening.
GGRAsia said that 22 hotels associated with Macau casino complexes have their standard rooms sold out for at least three nights of the upcoming Golden Week. That was as of last Thursday. The rooms that are still being listed as available in some properties have hefty room prices of around US$400 a night.
Samhi Hotels has raised Rs 1,370 crore through its Initial Public Offering, issuing Rs 1,200 crore of new shares and up to 1.35 crore existing equity shares for sale. The proceeds of the IPO are expected to be about Rs 900 crore and will primarily used for debt repayment and general corporate purposes. The shares debuted on the BSE and NSE Friday, trading up 7% from the IPO price. Indian investors snapped up the IPO after a sluggish start, ending with the IPO oversubscribed 5.33 times on the final day of bidding. Blue Chandra Pte Ltd., the previous largest shareholder of SAMHI, sold 50% of its equity holdings in conjunction with the IPO. Blue Chandra is an affiliate compa
