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HomeNewsMacauMacau hotel sector with $764 million deficit in 2022

Macau hotel sector with $764 million deficit in 2022

The Macau hotel sector reported a MOP6.4 billion ($794.4 million) deficit in 2022, an increase from the previous year after the brunt of the Covid-19 pandemic.

According to official data, receipts and expenditures of the SAR hotel sector amounted to MOP14.7 billion ($1.8 billion) and MOP21.1 billion ($2.6 billion) respectively, down by 23.8 percent and 7.1 percent year-on-year.

Overall, by the end of that year there were 133 hotel establishments, including hotels and economical accommodation establishments, an increase of 2 year-on-year, but with the total number of persons engaged decreasing by 4,401 to 35,749.

The Macau hotel sector reported 2022 as its worst revenue tally in the last decade, with the number of the employed labor force the lowest since 2012.

In total, Macau hotels saw receipts fall by 23.8 percent year-on-year to MOP14.69 billion ($1.8 billion) in 2022, with expenses also falling by 7.0 percent year-on-year to MOP21.1 billion ($2.6 billion).

The largest expense included compensation for employees (MOP10.14 billion/$1.2 billion), followed by operating expenses ($1.1 billion) and Purchase of Goods & Commission Paid (MOP1.51 billion/$187.4 million).

AGBrief Editorial
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The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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