Proportion of hotel bookings for junkets shrivels

2015/6/23

From:Macau Business

Gambling junket operators now make only a fraction of the hotel reservations in Macau that they used to make before the slump in VIP gaming.

Morgan Stanley says in a note that VIP gaming promoters seeking to accommodate their clients now book between 30 percent and 40 percent of all the city’s hotel rooms, having booked between 80 percent and 90 percent before.

The note says this aspect of the gaming slump has started a price war among hoteliers desperate to fill their rooms.

Copyright@Macau Business