• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 9 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

CLSA: Macau’s October Golden Week bookings looking strong

Ben Blaschke by Ben Blaschke
Wed 4 Sep 2024 at 14:23
Macau’s mass GGR reached 70% of pre-COVID levels in March, aided by further China reopening: analysts
17
SHARES
423
VIEWS
Print Friendly, PDF & Email

The early signs ahead of next month’s Golden Week holiday, running from 1 to 7 October, appear positive for Macau gaming operators, with hotels already filling up and room rates rapidly on the rise, according to brokerage CLSA.

In a research report issued Wednesday, CLSA analysts Jeffrey Kiang and Leo Pan said that 28 of the 34 Macau hotels they track, or 82%, are already fully booked for the weekend of 5 to 6 October, while most of those that still have rooms available have raised prices over the past week.

“Demand for hotel bookings on Trip.com for 5 to 6 October has heated up over the past three weeks,” they said. “While the number of fully booked hotels has stayed at 82%, hotel prices continue to rise week-on-week. As of 30 August, five out six hotels with rooms available raised room prices week-on-week (Broadway, Andaz Macau, Studio City Hotel, W Macau and Sofitel Macau at Ponte 16 raised room prices) – significantly more than last year when only one out of seven hotels raise room prices at six weeks out.

“We note that based on historical data, room supply is set aside ahead of seasonally high periods such as October Golden Week for promotional purposes. More rooms will be released to public over the coming weeks as operators gain more visibility on demand.”

The analysts added that Galaxy and MGM China properties remain the most popular with, on average, six out of eight Galaxy hotels and both MGM China’s properties being fully booked out since 1 June (on a +1 week basis), while SJM’s [peninsula property] Grand Lisboa has been fully booked out every week since 1 June on a one-week leading basis. Cotai’s Grand Lisboa Palace, on the other hand, was the one IR to lower room rates over the past week for Golden Week.

Nevertheless, CLSA said hotel rates were starting to trend upwards again for bookings one week ahead, having pulled back to US$477 from a post-COVID high at US$624 at the end of August.

“This is consistent with the historical seasonal trend of hotel prices steadily climbing through 2Q/3Q before resetting into October Golden Week,” Kiang and Pan wrote.

“On a four-week leading basis, pricing data has pulled back to US$499 after peaking mid-August at US$645; matching the trend observed in one-week leading data.”

Looking more broadly, CLSA said investor concerns over Macau’s widely touted crackdown on illicit money exchange was “likely overdone” with the 6% month-on-month growth in GGR in August suggesting “signs of stabilization of the crackdown.”

But they still cut their 2024 and 2025 GGR forecast by 2%, with 2024 GGR now estimated at US$28.4 billion and 2025 at US$29.6 billion. Their sector EBITDA forecast has been cut by 3% in 2024 and 4% in 2025 to US$7.9 billion and US$8.9 billion respectively on higher staff costs.

RelatedPosts

Galaxy Macau to host 2025 Annual Conference of the FIA – world motorsport’s governing body

Favorable VIP hold pushes Galaxy Entertainment Group’s 1Q25 profit to US$412 million

Thu 8 May 2025 at 14:03
Solutions Showcase: Angel – Tech Minded

Baccarat side bets now contribute close to 50% of Macau baccarat revenues

Thu 8 May 2025 at 13:32
House of Dancing Water returns to City of Dreams Macau with spectacular premiere

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

Thu 8 May 2025 at 11:11
G2E Asia 2025: Aristocrat’s Lloyd Robson on latest product pipeline

G2E Asia 2025: Aristocrat’s Lloyd Robson on latest product pipeline

Thu 8 May 2025 at 06:13
Load More
Tags: CLSAhotel bookingsMacauOctober Golden Weekroom rates
Share7Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Galaxy Macau to host 2025 Annual Conference of the FIA – world motorsport’s governing body

Favorable VIP hold pushes Galaxy Entertainment Group’s 1Q25 profit to US$412 million

by Ben Blaschke
Thu 8 May 2025 at 14:03

Macau’s Galaxy Entertainment Group (GEG) reported total net revenue of HK$11.2 billion in the first three months of 2025, including gross gaming revenue of HK$10.9 billion (US$1.36 billion) – up 13.6% year-on-year although slightly lower than the HK$11.0 billion (US$1.38...

Solutions Showcase: Angel – Tech Minded

Baccarat side bets now contribute close to 50% of Macau baccarat revenues

by Ben Blaschke
Thu 8 May 2025 at 13:32

Baccarat side bets now contribute between 45% and 50% of Macau’s gaming revenues, representing a generational shift in player preferences thanks to the deployment of smart gaming table technology. Stakeholders told IAG that such side bets previously comprised only a...

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

House of Dancing Water returns to City of Dreams Macau with spectacular premiere

by Pierce Chan
Thu 8 May 2025 at 11:11

After a five-year hiatus, City of Dreams’ epic production House of Dancing Water held its premiere on Wednesday 7 May ahead of an official opening to the public on Friday. The newly reimagined resident show is produced by Giuliano Peparini,...

Grand Korea Leisure extends casino closures until 15 February

Grand Korea Leisure’s casino revenues up to US$26 million in April

by Newsdesk
Thu 8 May 2025 at 07:03

Foreigner-only casino operator Grand Korea Leisure reported casino revenue of KRW36.2 billion (US$25.9 million) in April, up 11.5% year-on-year but down 12.7% compared with March. GKL’s casino revenue comprised an 11.7 % year-on-year increase in table revenue to KRW32.9 billion...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English