Macau’s hotel occupancy rate to reach 90% during Grand Prix weekends

October 31, 2023 Macau Events & Announcements Industry Updates

Hotel occupancy in Macau will be near 90% during the two weekends of the Macau Grand Prix, according to Maria Helena de Senna Fernandes, director of the Macao Government Tourism Office (MGTO). The Macau Grand Prix is celebrating its 70th anniversary this year, with 11 races spread over two weekends starting on November 11.

The event has the approval of the Macao administration, which seeks to attract more visitors. The MGTO anticipates a rise in tourists over the course of the two race weekends, notwithstanding the lack of information regarding hotel occupancy rates for the event. Over 90% of Macau’s hotels are expected to be full during the Grand Prix.

A total of 2,301,056 tourists visited Macau in September, a 310% increase over September 2022. That was a 28.6% drop from August, though. In the first three quarters of 2023, 19,928,168 tourists visited Macau, a 360% year-over-year increase. Macau’s hotel occupancy rate in August was 88.7%; however, September hotel occupancy figures are still pending.

Senna Fernandes continued, “There is a reciprocal pulling effect because Macau hosts various MICE (Meetings, Incentives, Conferences, and Exhibitions) events during the Grand Prix.” The Macau Food Festival on November 17 and the MGS Entertainment Show on November 14 are two of these events.

According to Ao Ieong U, Secretary for Social Affairs and Culture, the Grand Prix this year is expected to cost about MOP$260 million (US$32 million). For the 2023 Macau Grand Prix, Macau’s six concessionaires have contributed MOP$120 million in sponsorship, or roughly 46% of the event’s entire cost.