One of the Worst Hotel Ideas in Macau Ever
Skift Take
Alongside a relatively strong projected occupancy rate this summer, one of Macau’s most notable hotel failures has reopened its doors despite bankruptcy.
STR reported China hotel data for the week ended June 29th. China hotel RevPAR was down -9.4% year over year for the week, up against a +50.4% comp in the same week in 2023. Occupancy for the week was down -2.7% year over year.
China Trading Desk's most recent Travel Sentiment Survey showed the second quarter of 2024 saw the continued recovery of the outbound travel market. The survey showed over 1.5 million trips during Golden Week and overall outbound travel for the quarter reaching 87% of 2019 numbers. The survey found that over 59% of outbound travelers in the quarter were female, with over 63% between the ages of 18 and 29. The top destinations for Chinese travelers in the quarter still included favorites like Singapore (15.6%), Thailand (13.8%), Malaysia (12%), Japan (11.7%) and South Korea (11.5%). An emerging trend found that Chinese travelers are showing an interest in health, wellness and nature
