Room rates to increase in July / August

A survey conducted by Wells Fargo is estimating that Macau’s average room rate will increase between 1.8 to three percent between July and August.

According to the brokerage, Galaxy Entertainment Group will hold the position of highest average room rate, with a predicted month-on-month increase of 12.5 percent from July to August.

Melco Crown’s properties will also see a hike in average room rate, up 8.4 percent in July and August. 

However, in the note on Friday, the brokerage said it also estimates a sequential September slowdown due to the openings of Wynn Palace and Las Vegas Sands’ Parisian in late August / early September – which will add an estimated 4,700 rooms to the market.