Welcome to Francis Academic Press

Academic Journal of Business & Management, 2022, 4(12); doi: 10.25236/AJBM.2022.041205.

Statistical Study on the Impact of the New Crown Epidemic on the Supply and Demand Market of Macau Hotel Industry

Author(s)

Yan Zheng

Corresponding Author:
Yan Zheng
Affiliation(s)

Guangzhou College of Commerce, Guangzhou, 511365, China

Abstract

This paper conducts a systematic study of the market development of the hotel industry in Macau under the influence of the epidemic, and statistically analyzes the changes in supply, demand and prices of the hotel industry from 2020 to 2022. It is found that despite the severe decline in the number of inbound tourists to Macau due to the epidemic, the hotel industry in Macau has maintained a relatively stable situation, as evidenced by a small increase in the number of hotel and room operations and an occupancy rate that basically remains at the only major decline was in hotel prices. By analyzing the reasons for the changes in the Macau hotel market in various aspects, a supply and demand equilibrium structure of the Macau hotel market is constructed based on the price equilibrium theory, which can provide a reference for the rapid recovery of the hotel economy in various regions in the post-epidemic era.

Keywords

Macau Hotel Industry, "Tourism+Conventions", The post-epidemic era, Hotel Market

Cite This Paper

Yan Zheng. Statistical Study on the Impact of the New Crown Epidemic on the Supply and Demand Market of Macau Hotel Industry. Academic Journal of Business & Management (2022) Vol. 4, Issue 12: 19-26. https://doi.org/10.25236/AJBM.2022.041205.

References

[1] Lai I K W, Wong J W C. Comparing crisis management practices in the hotel industry between initial and pandemic stages of COVID-19 [J]. International Journal of Contemporary Hospitality Management, 2020.

[2] Le D, Phi G. Strategic responses of the hotel sector to COVID-19: Toward a refined pandemic crisis management framework [J]. International Journal of Hospitality Management, 2021, 94: 102808.

[3] Borovcanin D, Cuk I, Lesjak M, et al. The importance of sport event on hotel performance for restarting tourism after COVID-19 [J]. Societies, 2020, 10(4): 90.

[4] Koh Y, DeFranco A, Back K J. Modeling average daily rate (ADR) volatility index and room price positioning matrix [J]. Tourism Economics, 2017, 23(7): 1476-1483.

[5] Mohammed I, Guillet B D, Law R. Last-minute hotel-booking and frequency of dynamic price adjustments of hotel rooms in a cosmopolitan tourism city [J]. Journal of Hospitality and Tourism Management, 2019, 41: 12-18.

[6] Chica-Olmo J. Effect of monumental heritage sites on hotel room pricing [J]. International Journal of Hospitality Management, 2020,90: 1-10. 

[7] Hung W T, Shang J K, Wang F C. Pricing determinants in the hotel industry: Quantile regression analysis [J]. International Journal of Hospitality Management, 2010, 29(3): 378-384.

[8] Statistics and Census Bureau, MSAR Government, 2022. https://www.dsec.gov.mo/zh-MO.

[9] Hu Jin. A comparative study of production price theory and equilibrium price theory [J]. Contemporary Economic Research, 2004(02): 46-50.

[10] Feng Jinhua. The value basis of general equilibrium theory [J]. Economic Research, 2012, 47(01): 31-41.