Hotels occupancy rate sky-rocketed in 2023

Macau’s five-star hotel sector was significantly up in 2023 with the average occupancy rate in December reaching 91.2%, up from 73.9% in January, post the easing of Covid-19 related travel restrictions. This improvement was just slightly below the pre-pandemic level of 93.8% in December 2019. The number of operational five-star rooms in Macau also increased to 27,800 by November, a 23.0% rise from January’s 22,600, surpassing the December 2019 count of 24,600 rooms. The average room rate for five-star hotels in December 2023 was MOP1,773 ($220), showing a significant 29.3% increase from January 2023. For the whole year, the average rate was MOP1,510, compared to MOP1,644.0 in 2019. The occupancy rate for 2023 was 85.8%, slightly below the 92.3% in 2019. The four-star hotel category also experienced growth, with December 2023 occupancy at 86.5%, up from 70.1% in January. The room inventory rose to 9,100, a 19.7% increase from January. The average room rate in December 2023 for four-star hotels was MOP999.