Macau’s Occupancy Rate Continues to Fall

• The average occupancy rate of Macau’s hotels and guesthouses fell by -6.3 percentage points year over year in June to a very weak 39.1%.
• Ascott Residence Trust is proposing to acquire nine quality serviced residences, rental housing and student accommodation properties across five countries from its sponsor, The Ascott Limited.
• Accor, Ennismore, and Funyard shared the early progress of their recently announced strategic partnership to develop the international lifestyle brand, JO&JOE, across China.

The average occupancy rate of Macau’s hotels and guesthouses fell by -6.3 percentage points year over year in June to a very weak 39.1%. The worst thing about that is the result will be lower than that for July. The Macau Statistics and Census Service said the occupancy rate for 5 star hotels fell by -12.2 […]