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Hotel sector contributed MOP14.55 billion to local economy in 2014

The number represents an 18.1 pct increase year-on-year. Meanwhile, expenditure for the sector increased 7.9 pct to MOP 23.07 billion

The MSAR’s hotel sector generated receipts of MOP27.87 billion (US$3.49 billion) last year, according to the results of a hotels and similar establishments survey 2014 released by the Statistics and Census Service (DSEC) yesterday. Official data shows that when analysed by types of receipt, room sales increased 14.3 per cent year-on-year to MOP 13.65 billion, accounting for 49.0 per cent of the total; receipts from Food & Beverages increased by 1.1 per cent to MOP 5.65 billion; receipts from rental of space rose by 18.6 per cent to MOP 5.58 billion, with those for MICE events (MOP 339 million) soaring 111.1 per cent. The survey covered all licensed hotels and guesthouses in Macau which totalled 99 operating in 2014, a decrease of 1 year-on-year, comprising 66 hotels and 33 guesthouses. The total number of persons engaged dropped 1.1 per cent year-on-year to 39,475. Of these, 26,089 – around 66.1 per cent – were working in 11 large-scale hotels of 800 or more persons, representing a decrease of 8.1 per cent compared to 2013. Of all establishments, 5-star hotels have the most balanced income portfolio, with room sales accounting for 46.9 per cent of total receipts, rental of space 22.8 per cent, and F&B 20.6 per cent. The amount of each category stood at MOP10.82 billion, MOP5.25 billion, and MOP4.75 billion, up 14.7 per cent, 18.9 per cent and 0.1 per cent, respectively, when compared to 2013. DSEC said it was worth noticing that online business in hotel sector saw a marked growth, with receipts from online room reservation and ticketing, etc. surging 29.4 per cent to MOP784 million, with the corresponding growth for 3-star and 2-star hotels reaching 35.2 per cent. The data from 2014 also indicates that expenditure of the hotel sector increased by 7.9 per cent year-on-year to MOP 23.07 billion. Operating Expenses (MOP 10.49 billion) and Compensation of Employees (MOP 9.59 billion) rose 3.1 per cent and 17.2 per cent, respectively, year-on-year, while Purchase of Goods & Commission Paid (MOP 2.99 billion) edged down 0.9 per cent. Meanwhile, Non-operating Expenses such as depreciation of fixed assets and interest paid totalled MOP 7.25 billion, down 7.7 per cent year-on-year. All in all, Gross Value Added, that measures the sectoral contribution to the local economy, rose 18.1 per cent year-on-year to MOP 14.55 billion. Gross Surplus of the sector (receipts plus changes in inventories less expenditure) amounted to MOP 4.96 billion, up 20.0 per cent. On the other hand, owing to an increase in major renovations of establishments in 2014, Gross Fixed Capital Formation grew 22.0 per cent year-on-year to MOP 2.76 billion.