(Updates with monthly casino revenue in third paragraph.)
Oct. 4 (Bloomberg) -- Wynn Macau Ltd. and Mandarin Oriental said their hotels in the world’s largest gambling hub are fully booked during China’s week-long national holiday.
“It’s a very busy period for us,” Katharine Liu, Wynn’s director of communications, said by phone today. All the company’s 1,009 rooms will be rented during China’s so-called Golden Week holiday this week, she said. The Mandarin Oriental Macau has been full since Sept. 30, said Ada Chio de la Cruz, the hotel’s director of communications.
Rooms are selling out in Macau as casinos attract more visitors who helped drive gambling revenue up 39 percent to 21.2 billion patacas ($2.6 billion) last month, according to data published on the city’s Gaming Inspection and Coordination Bureau website today. High-stakes gamblers on junkets from mainland China have driven growth in Macau, the only place in the country where casinos are legal.
“Many companies expect October to be a record month considering the Golden Week and forward bookings,” Aaron Fischer and Huei Suen Ng, consumer and gambling analysts at CLSA Asia-Pacific Markets, said in a research note. “The industry dynamics remain attractive with limited threat from gaming in other Chinese locations; only six operators and only 3 percent to 5 percent expansion in supply over the long run.”
Occupancy at Sands China Ltd.’s 360-room Four Seasons Hotel on the former Portuguese colony’s Cotai Strip has been “strong,” said Julius Santos, director of marketing.
Room Rates Rising
The Mandarin Oriental Macau’s rooms this week start at 3,500 patacas for Oct. 1-7, 76 percent higher than the rates early last week, according to a price list on the Macau Government Tourist Office’s website. The hotel’s most expensive room is listed at 49,000 patacas a night.
Mandarin Oriental continues to receive inquiries for available rooms, said Chio de la Cruz. Mandarin Oriental International Ltd. has at least 27 hotels worldwide, according to its website.
Casino revenue of the former Portuguese colony has grown 46 percent in the nine months through September to 194 billion patacas, according to data from the Macau government.
--Editors: Frank Longid, Dave Mccombs
To contact the reporter on this story: Michelle Yun in Hong Kong at email@example.com; Marco Lui in Hong Kong at firstname.lastname@example.org
To contact the editor responsible for this story: Frank Longid at email@example.com