The Macau Metro Monitor, February 1, 2012
MONTHLY GROSS REVENUE FROM GAMES OF FORTUNE DSEC
Janauary Macau Gross Gaming Revenue was up 34.8% YoY to MOP 25.040 BN (HKD 24.309 BN, USD 3.13 BN).
PONTE 16 APPLIED FOR EXTENSION PROJECT Macau Daily News
Ponte 16 has submitted its extension project application with the Macau government. The company plans to invest $800 million catering a floor area of 400,000 sq ft., including a shopping mall, and expanding the current casino floor, and expect to complete in 2013.
RISING HOTEL PRICES, OCCUPANCY SOARS Macau Daily Times, Jornal Va Kio
The number of tourists during Chinese New Year was lower than expected according to the tourism industry insiders, but still managed to achieve single digit growth. During the week long holidays in mainland China, from January 23 to 29, the average room rate at guesthouses rose by a staggering 28.1% from the same period of last year to almost MOP 560. The prices at five-start hotels increased 9.1% to more than MOP 2,400. The average occupancy rate at three to five-star hotels actually grew by 4.6 points from the 2011 Chinese New Year to 91.9%. This figure even reached 94.9% at five-star hotels, up by 3.7 points.
CHINA'S AVERAGE HOUSING PRICES FALL IN JANUARY Marketwatch
Average housing prices in 100 major cities in China fell 0.18% in January compared with December, China Real Estate Index System says. This is the 5th consecutive sequential decline.
SINGAPORE'S JOBLESS RATE FALLS TO 14-YEAR LOW Strait Times
Singapore created 121,300 jobs last year which caused the unemployment rate to fall to 2%, a 14-year low.