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<Research>M Stanley Foresees Decline in ADR for MO Hotels During CNY Holiday w/ Strong Visitation
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The average daily rate (ADR) for hotels in Macau during the Chinese New Year holiday is expected to decrease by 15-40% YoY and to be 10-30% lower than during last October's Golden Week, while the occupancy rate will remain largely unchanged YoY, according to a report from Morgan Stanley.

However, the broker noted that Macau's inbound visitor numbers are anticipated to be strong. Since Zhuhai residents have been able to apply for the "one trip per week" visa to Macau this year, the number of Zhuhai residents visiting Macau in the first half of January increased by 26% YoY.

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