Luxury hotels are experiencing a surge in bookings, with over 21 upscale establishments already fully booked for a minimum of four nights
Macau is getting ready for a huge wave of tourists as the Chinese New Year holiday starts on January 29 ushering in the Year of the Snake. The eight-day break is crucial for the city’s gambling and hotel sectors, with experts predicting all-time high visitor numbers and robust growth in earnings.
Macau’s Luxury Hotels Experience Surge in Bookings
Luxury hotels are seeing a boom in bookings, with more than 21 high-end places already full for at least four nights. The number of occupied rooms has gone above 80% and will top 90% as the holiday continues. Some hotels have cut their prices compared to last year, while others have raised them because so many people want to stay. A typical room costs about HK$3,911 ($503) on average, with spots like The Venetian Macau and Grand Lisboa Palace showing the biggest price cuts.
Officials expect up to 670,000 people to cross the border each day, with total entries and exits going over 5 million, a bit more than last year. The Macao Government Tourism Office thinks daily visitor numbers will hit 185,000, with 8,000 from other countries. The recent easing of Individual Visa Schemes (IVS) has given travel a boost letting Zhuhai and Hengqin residents apply for multiple-entry visas and bringing in 20,000 more arrivals.
Macau Plans Exciting Cultural Activities Alongside Gambling Boom
Besides its gambling scene, Macau has plans to host various cultural events for the holiday season, reported Focus Asia Pacific. A float parade with performers from Macau, Japan, South Korea, and China’s Zhejiang province will happen at Sai Van Lake on January 31. Another parade is scheduled for February 8 in Ilha Verde. The city will put on three big fireworks shows near Macau Tower on January 31, February 4, and February 12. Also, traditional Golden Dragon parades will take place on January 29 and 30.
Experts think the city’s casinos will do well during the holidays, and they expect gambling revenues to go up throughout 2025. Growth forecasts vary from 4.7% to 7%, based on how confident shoppers feel and how China’s economy is doing. The Macau government wants to see MOP240 billion ($29.9 billion) in gambling money for the year, which is 11% more than in 2024.
The outlook looks even better because Beijing keeps helping the economy with things like financing and lowering interest rates.As the Lunar New Year holiday kicked off, Macau saw about 79,000 visitors come in on day one. This marks a 34.9% drop from last year’s first day. However, this dip does not mean people are less keen to visit. It is mainly due to the different holiday dates this year. Macau still feels upbeat about the whole holiday stretch.
