Macau Grand Prix to Usher in Tourists, Hotel Occupancy Expected to Top 90 Percent

The Macau Grand Prix celebrates its 70th day of remembrance next month, and tourism officials inward the Chinese casino enclave are betting on a strong turnout for the ii weeks of racing.

The Macau Grand Prix offers a bit of everything for motorsports enthusiasts. The annual street electric circuit event includes races for both automobiles and motorcycles. It’s also I of only if two national grand prix events that isn’t fastened to Formula One.

The 2023 Macau Grand Prix officially runs Saturday, November 11, through Sunday, Nov 19. The schedule culminates with the 70th Anniversary Macau Grand Prix FIA Formula 3 Championship.

Macau’s casinos welfare from the yearly motorsports festival, as hundreds of thousands of spectators go down on the enclave for the consecutive weekends. The casinos on the Macau peninsula and the Cotai Strip collectively extend nearly 50K hotel rooms.

Casino Rooms Selling Fast

Speaking Mon at a ceremonial inward anticipation of the Macau government’s 70th hosting of its Grand Prix, Macau Government Tourism Office (MGTO) Director Calophyllum longifolium Helena de Senna Fernandes painted an optimistic outlook for the II weeks. She expects most hotel rooms to live rented during both weekends.

The MGTO does non in time have got data on hotel occupancy rates during the event, but expects more visitors to follow attracted to Macau o'er the II weekends of racing,” Senna Fernandes said, as reported by Inside Asian Gaming. “It is expected that the hotel tenancy value inwards Macau testament progress to 90% during the Grand Prix.”

A seek of useable rooms shows that prices are increasing quickly. group A two-night stay at Sands Macau from November 17 to November 19 averages $559 a night. The same Friday to Lord's Day delay at City of Dreams is offered at $636 a nighttime and nearly $900 a nighttime at Melco Resorts’ Morpheus.

For comparison, a Friday to Lord's Day stick around Dec 8-10 runs $261 a nighttime at Sands, $434 at City of Dreams, and $783 at Morpheus.

The Macau Grand Prix has an interesting origin. The case was intended to follow a citywide hoarded wealth hunt when organizers founded the case inwards 1954. Soon after determining a route for the hoarded wealth hunt, the founders decided an automobile rush was to a greater extent appropriate.

Over the decades, the race expanded, and the for the first time F3 Macau Grand Prix was held inwards 1983. Macau has refused to qualify the course of instruction to stick to to regulations that could allow it to go innkeeper to F1, something that’s non the case inwards Las Vegas where the city is undergoing a major service to hold the upcoming Formula 1 Las Vegas Grand Prix, which coincides with the Macau Grand Prix on November 19.

Rebound Ongoing

Macau’s tourism and gaming industries persist in to recover from the COVID-19 pandemic. China’s post-pandemic recovery was delayed by President Xi Jinping, who maintained his “zero-COVID” policy until late 2022.

Macau casinos in August won $2.06 1000000000 from players, the market’s topper month since Jan 2020. Through threesome quarters of 2023, Macau casinos make generated gross gaming revenue (GGR) of MOP128.9 billion (US$16 billion). That’s up over 300% from the same nine months in 2022 when journey remained modified end-to-end mainland China and lockdowns persisted when new coronavirus clusters were detected.

While the gaming industry continues to trend positively, Macau’s commercial message gaming marketplace has a way of life to lead to getting even to its 2019 conditions. Through niner months in 2019, the VI gambling casino operators had won more than $27 billion.

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