Macau’s Galaxy boss: hotel shortage ‘must be addressed’ with Hengqin Island policy
Development of the island, which is three times Macau’s size, would boost the economy and its diversification, Francis Lui Yiu-tung says
With visitor arrivals growing, demand for hotel accommodations would continue to increase, and there was an urgent need for Macau to address the issue, he said.
Macau had about 45,000 rooms and welcomed 35 million visitors last year. In comparison, Las Vegas has about 160,000 hotel rooms for 40 million annual visitors.
According to Galaxy’s estimates, Macau needs at least 15,000 more hotel rooms, especially mid-priced ones with daily rates below HK$1,000.
Lui said policy breakthroughs to promote the development of nearby Hengqin Island would increase hotel capacity and help Macau’s economic diversification.
Mid-priced hotels in Hengqin would allow visitors to stay there but come to Macau for conventions, concerts and gaming, he said.