Forecasting Market-wide Gaming Revenue (Win) for the Macau Special Administrative Region

Forecasting gaming revenue for the Macau SAR over the next five to seven years will be particularly challenging primarily due to the current extraordinarily high win per unit per day (WPUPD) and the unprecedented anticipated growth in supply.
Suzanne R. Mellen, MAI, CRE, FRICS, ISHC is based in San Francisco and is the Senior Managing Director and Practice Leader for the firm's U.S. consulting and valuation practice. HVS leaders now live in and work from more than 30 markets throughout the North American region, including San Diego, LA, San Francisco, Portland, Seattle, Vancouver, Las Vegas, and Phoenix in the west. Suzanne has been evaluating hotels and associated real estate for 37 years, has authored numerous articles, and is a frequent lecturer and expert witness on the valuation of hotels and related issues. Ms. Mellen has a BS degree in Hotel Administration from Cornell University and holds the following designations: MAI (Appraisal Institute), CRE (Counselor of Real Estate), ISHC (International Society of Hospitality Consultants) and FRICS (Fellow of the Royal Institution of Chartered Surveyors). Contact Suzanne at +1 (415) 268-0351 or
Shannon Okada is a Vice President with HVS Consulting & Valuation and Associate Director of the HVS Gaming Division. Mr. Okada's experience includes appraisals and feasibility studies for existing and proposed hotels, resorts, casinos, and racinos. He holds a Master of Science degree in Hotel Administration from the University of Nevada Las Vegas, a Masters in Business Administration and Juris Doctor degrees from Pepperdine University, and a Bachelor in Business Administration degree in Marketing and Management from the University of Hawaii.


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