Macau hotels are offering discounts of up to 35 percent over the next few months, with some including a complimentary room in cases when customers just buy a buffet dinner.
According to Hong Kong’s The Standard, only four out of 23 hotels operated by the six gaming concessionaires have achieved full occupancy, despite cutting rates nearly 10-20 percent.
In May, Morgan Stanley estimated that hotel and retail weakness in Macau is likely to linger.
While some analysts see the opening of new resorts such as Wynn Palace and The Parisian as an opportunity to attract more visitors to the city, others have argued that the new resorts will merely take away market share from other resorts - thereby further pushing down average occupancy rates.
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