Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
FUTURE BRIGHT Chan Chak Mo: MO Catering Industry Turns Muted After LNY, Even Gaming Resorts Not Spared
Recommend 16 Positive 31 Negative 16 |
||||
|
||||
|
The catering industry in Macau has turned muted after the Lunar New Year, Chan Chak Mo, Managing Director of FUTURE BRIGHT (00703.HK) and Chairman of the United Association of Food and Beverage Merchants of Macao, told Macau media in an interview. Not only have residential areas seen a decline in foot traffic, but tourist hotspots like Rua do Cunha and the Ruins of St. Paul’s have also experienced a slowdown, he said. Industry sentiment toward the outlook is generally pessimistic, with even integrated resorts operated by gaming companies not immune to the trend, he added. FUTURE BRIGHT's catering business has declined 10-20% YoY, possibly due to uncertainties in mainland China’s economic outlook and a drop in visitor numbers following the Lunar New Year. He stressed that the current "bottleneck" in Macau’s catering industry is not limited to dismal conditions in residential areas but also includes rising rents from landlords, as well as the high costs and complex procedures for obtaining licenses. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
