Macau’s economy is in a slump, but its hotel construction continues at a rapid pace, reports Travel Weekly. A decade ago, Macau surpassed Las Vegas as the world’s most profitable gambling market. But the Chinese economy is lagging and it’s currency devalued, and there’s been a crackdown on illegal activities related to Macau gaming, both of which are limiting high rollers in the territory. Macau draws heavily on mainland China visitors for its income. Still, hoteliers aren’t fazed. Three hotels with more than 4,200 rooms and a combined cost of $8.2 billion are scheduled to open later this year. Among them the Las Vegas Sands, the largest U.S. casino-hotel resort owner, is planning a 3,000 room, $2.7 billion Parisian Macau Hotel for late 2016, which includes a half-scale replica of the Eiffel Tower. And entrepreneur Stephen Hung is building The 13, set to be the world’s most expensive hotel with a cost of $7 million per room. The 200-room hotel is scheduled for opening in late summer of this year. Last year, Macau’s visitor numbers fell 2.6 percent to 30.7 million. Visits from mainland China, which make up two-thirds of Macau’s tourism, fell 4 percent, and per-capita spending has been dropping since its peak in 2013. Last year, it was down 15 percent.
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