Macao"s hotels record double-custom wristbands houstondigit growth in 2017

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MACAO -- The hotel sector in China"s Macao Special Administrative Region (SAR) recorded double-digit growth last year, with its receipts reaching 32.59 billion patacas in 2017, up by 14.7 percent year-on-year, the SAR"s statistics bureau said recently.

Information from the Statistics and Census Service indicated on Tuesday that the number of operating hotels and guesthouses increased by four year-on-year to 113 in 2017, including 79 hotels and 34 guesthouses.

The receipts of five-star hotels rose by 11.7 percent to 24.48 billion patacas. In terms of four-star hotels, receipts amounted to 4.21 billion patacas, up by 2.2 percent year-on-year.

The gross surplus of the hotel sector also recorded double-digit growth in 2017, reaching 3.57 billion patacas, up by 62.1 percent. The gross surplus ratio went up by 3.2 percentage points to 11.0 percent.

The gross value added that measures the sectoral contribution to the economy rose by 17.3 percent year-on-year to 16.59 billion patacas.

Meanwhile, following the completion of several large-scale hotels in 2016, gross fixed capital formation of the sector in 2017 tumbled by 76.4 percent to 8.63 billion patacas. (1 US dollar equals to 8.06 patacas)