So far, the gambling market in Macau is not performing great. This was partially expected thanks to the lukewarm results from 2019. Now, the trepidation related to this year is also on the rise. Furthermore, the medical situation evolving on the mainland is also complicating the business for casinos. Will all this in mind, many have written off January as a successful month.
However, others are hoping that the Chinese New Year can be a game-changer. The local casino industry in Macau is hoping that the same period will provide a partial respite from a bad month. The period will include an annual vacation period where Chinese nationals travel home and spend time with the family. Others use the same time for a vacation and Macau seems to be very high on this list.
To aid in this potential revenue and profit jump, Macau is boosting its travel capacity. The city is going to expand the capacity of its Macau International Airport. There, an additional 120 flights will get underway during the celebrations. The same will cover the big routines in and outside of China. Taipei and Bangkok are among the biggest foreign destinations.
Of course, domestic cities are also on the list. This will see people going in and out of Macau. With half of its population of Macau being from the Chinese mainland, many will take the opportunity to visit relatives back home. Overall, the Macau authorities see an increase of almost six per cent of flights in the period. During the same time, around 35,000 will take daily to the sky in the territory.
Optimistic Hotel Figures
One of the biggest factors that are giving people a reason to be optimistic is the general hotel booking rate. In Macau’s Cotai region some hotels are already sold out. 14 out of 19 hotel facilities are full for most of the Chinese New Year period.
The celebration officially begins on January 25. The data also shows that the start and the end of this holiday period are most interesting to the travellers. Also, as the availability of hotel accommodation falls down, the prices are rising.
Currently, accommodations stand at 180 USD and go all the way to almost 400 USD. All of this is related to mass market and ordinary gamblers and visitors. In the domain of VIP customers, these prices are even higher.
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