Melco CEO says China is the most important market for Macau
Melco Resorts Chairman stated that although a travel bubble between Hong Kong and Macau would be great news, mainland China is the most important market.
Macau.- After sharing Melco Resorts financial results for the first quarter of 2021, Lawrence Ho, Melco Resorts Chairman and Chief Executive Officer referred to the possibility of a travel bubble between Hong Kong and Macau.
Ho explained Hong Kong provides between 20 and 25 per cent of Melco business in Macau but China continues to be the most important market.
Mainland China visitors totalled 688,353 in March, up 674.4 per cent compared to March 2020 and the Macao Government Tourism Office (MGTO) expects a hotel occupancy rate between 70 per cent to 80 per cent during the Labour Day break.
Hong Kong has recently announced they want to resume the flow of people between its country, Guangdong and Macau by easing quarantine requirements.
However, Macau authorities warned a travel bubble with Hong Kong will not be possible until the latter registers no local infections for 14 consecutive days.
Melco Resorts CEO said: “China has a zero-tolerance policy with regards to Covid-19 cases. So I think Macau would have to balance the Hong Kong travel corridor with not jeopardizing what they have with China right now.”
David Sisk, Melco chief operating officer, believes the company will reach pre-pandemic levels at the end of the year while he is seeing with optimism the booking rates for the upcoming Labour Day break.
