Macau’s 79 hotels and 34 guesthouses recorded receipts of 32.59 billion patacas last year, a year-on-year increase of 14.7 percent, the Statistics and Census Bureau (DSEC) announced Tuesday.
According to a DSEC statement, 5-star hotels’ receipts accounted for 75.1 percent of the sector’s total receipts in 2017.
The sector’s total expenses rose 8.8 percent year on year to 28.98 billion patacas. Employees’ salaries and other kinds of compensation accounted for nearly 45 percent of the total expenditure.
According to the bureau, gross value added (GVA), which measures the sector’s contribution to the overall economy, rose 17.3 percent year on year to 16.59 billion patacas.
As the growth in receipts outpaced that in expenditure, the sector’s gross surplus surged 62.1 percent to 3.57 billion patacas.
The sector’s gross surplus ratio went up by 3.2 percentage points to 11 percent.
Following the completion of several large-scale hotel projects in 2016, the sector’s gross fixed capital formation last year fell 76.4 percent to 8.63 billion patacas, according to the statement.