The Macau Tourism Price Index, which reflects changes in prices of goods and services purchased by visitors, fell 2.7% year-on-year to 131.5 points in the third quarter of 2015, according to data from the Macau Bureau of Statistics.
"This is due to lower hotel rates and lower clothing prices," the Office for National Statistics said Wednesday
This marks the first year-over-year drop in tourist prices in more than 12 years. Official data showed the index fell 0.55% in the second quarter of 2003 compared with a year earlier.
Data on Wednesday showed tourist prices fell 2.3% quarter-on-quarter in the third quarter as lower hotel room rates pushed the accommodation price index lower. In the first nine months of 2015, the tourist price index fell 0.10% year-on-year.
The lodging industry index accounted for about 23.1% of the total tourist price index in the third quarter, followed by restaurant services with a share of 17.5%. The accommodation index fell 10.9% year-on-year in the three months to Sept. 30.
According to data from the Macau Hotel Association, the average cost of a Macau hotel room was $1,512 ($189) in the eight months to August. This is a 5.4% decrease from the previous year. 온라인카지노
In the first eight months of 2015, Macau's cumulative average hotel occupancy rate was 79.5%, down 7.0 percentage points year-on-year, according to separate data from the City Bureau of Statistics. During the period, a total of 6.75 million visitors visited hotels and guest houses in Macau, down 6.4 percent from a year earlier.
Hotel prices and occupancy rates are falling as the number of visitors to Macau continues to decline. Visitor arrivals in the eight months to Aug. 31 were 20.44 million, down 3.2% from a year earlier.
Hotel accommodation is one of the main non-game revenue sources for Macau casino operators. The easing of room rates coincided with the downturn in the gaming industry. Macau Casino's Total Game Revenue Declines For 16 Consecutive Months YoY.
Casino operator Melco Crown Entertainment Ltd will soon open a $3.2 billion studio city from a five-star hotel to a four-star hotel. The company said the four-star type is best suited to Macau's "diversification policy for accommodation and tourism products."
