Macau five-star hotel rates dip while occupancy hits 96.6%
Macau’s luxury hotel sector recorded softer pricing but exceptionally strong demand in February, as peak holiday travel pushed occupancy near full capacity despite a year-on-year decline in room rates.
The average nightly rate for a five-star hotel room in Macau stood at MOP1,560.0 (US$193.5) in February, representing a 2.4 percent decrease compared with the same month in 2025. At the same time, the average occupancy rate climbed to 96.6 percent, up 1.2 percentage points year-on-year.
The figures come from the latest monthly survey conducted by the Macau Hotel Association (MHA) and published by the Macao Government Tourism Office (MGTO) in its report on hotel occupancy and average room rates among association members.
The survey covers 48 member hotels, including 27 five-star properties. Most of these high-end establishments are integrated within casino resort complexes, reflecting the structure of Macau’s tourism and hospitality industry. The remaining participating hotels fall into the four-star or three-star categories, with some also located within gaming resorts.
Chinese New Year travel drives demand
February’s high occupancy coincided with the lunar-calendar Chinese New Year holiday on the Chinese mainland, Macau’s largest source of inbound visitors. In 2026, the holiday took place from 15 to 23 February.
By comparison, in 2025 the festive period ran from 28 January to 4 February, spanning two calendar months.
Year-to-date performance shows mixed trend
In the first two months of 2026, the average nightly rate for five-star rooms was MOP1,541.3 ($191.2), down 2.7 percent from the same period in 2025, while occupancy averaged 96.2 percent, an increase of 1.0 percentage point year-on-year.
Across all hotel categories included in the survey, the average room rate for January and February was MOP1,388.0 ($172.1), a decline of 2.2 percent compared with the previous year.
The data indicate that while demand remains robust across Macau’s hospitality sector, pricing power, particularly at the luxury end, has softened.
Luxury segment reverses earlier growth
The recent declines mark a reversal from the upward pricing trend observed in 2023 and 2024, when Macau’s tourism recovery following pandemic restrictions drove significant gains in hotel rates.
Full-year figures for 2025 show that the average nightly cost of a five-star room fell 5.0 percent year-on-year to MOP1,513.5, suggesting that the market began adjusting even before the current year.
Despite lower room rates, occupancy remained high during peak travel periods associated with mainland Chinese holidays.
Five-star hotels dominate Macau’s supply
Luxury accommodation remains the backbone of Macau’s hotel industry. According to the city’s Statistics and Census Service, Macau had approximately 26,000 five-star rooms as of January, the most recent data available. This represents nearly 58 percent of the territory’s total hotel inventory of about 45,000 rooms across all categories.
The supply of five-star rooms increased by 6.8 percent compared with January 2025, reflecting ongoing expansion within integrated resort developments and new or upgraded properties entering the market.
Strong demand, softer pricing outlook
The February data show that visitor numbers and hotel occupancy remained high, while room rates, particularly in the five-star segment, declined year-on-year.
Five-star hotels account for the majority of available rooms in Macau and are largely integrated within casino resort complexes, making pricing trends in this category relevant to the overall hotel market.
Macau continues to draw large numbers of visitors from mainland China during major holiday periods, with hotel performance in 2026 expected to reflect the balance between room supply and pricing.
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