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<Research>M Stanley: MO Hotel Room Rates Up ~30% YoY During CNY; Feb GGR Expected to Rise 13% YoY
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During the first five days of last year's National Day Golden Week, Macau's GGR averaged around MOP1.1 billion per day, according to a research report by Morgan Stanley. Given the similar occupancy rate and an increase of about 25% in the average daily room rate (ADR) for this year's Chinese New Year compared to that period, Morgan Stanley expects that the GGR for this year's Chinese New Year holiday will be similar to or even stronger than last year's National Day Golden Week. As indicated by Morgan Stanley's data, the daily room rate during this year's Lunar New Year holiday is 25% higher than last year's National Day Golden Week and 29% higher than the same period last year. Due to the higher occupancy rate, post-holiday demand is likely to last longer, supporting the broker's forecast of a 13% YoY growth in February's GGR. AAStocks Financial News |
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