THE M3: NEVES FORECAST; ADR; WEAK RETAIL SPENDING

The Macau Metro Monitor, October 10, 2012

 

 

CASINO REVENUE TO GROW UP TO 15% IN 2012: REGULATOR Macau Business

The head of the Gaming Inspection and Coordination Bureau, Manuel Joaquim das Neves, forecasts Macau’s casino gross gaming revenue to “to grow between 10% and 15%” for full 2012.  “We have a much higher base of comparison from 2011, especially during the second half of the year. Taking into consideration the global economic downturn, to achieve such growth would be a very good result,” Neves said.  “Based on the first week, we expect this October to be good month,” he added.

 

CHEAPER HOTEL ROOMS DURING GOLDEN WEEK Macau Business

Average rates for hotel rooms during the National Day Golden Week holiday period (October 1 to October 7) registered a slightly YoY drop.  Data released yesterday by the Macau Government Tourist Office shows that average daily room rates of three to five-star hotels stood at MOP1,741 (US$218), down by 1.03% YoY.  On the contrary, average daily room prices for guesthouses recorded an increase of 33.84% during the Golden Week period.  Renting a room at a guesthouse, cost on average MOP526.57 during the holiday period.

 

HOLIDAY SALES LACKLUSTRE Macau Business
According to an industry representative, despite the increase in tourist arrivals during the Golden Week holiday period, retail sales failed to follow suit.  The head of the Macau Association of Retailers and Tourism Services, Frederick Yip Wing Fat says mainland tourists were more cautious in their spending this year due to the economic slowdown there.  “We do not have the exact figure yet but there were drops in retail sales this year,” Yip said.  “The best scenario would only barely reach the same level as last year”.  Yip added one area where drops were recorded was in sales of luxury products and jewelry.  

 



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