Hoteliers must have been happy in 2010

This as total receipts amounted to over $29 billion last year.

According to the results of the 2010 Annual Survey of Economic Activities released by the Census and Statistics Department, total receipts amounted to $29.1 billion in the accommodation services sector which mainly covered hotels, guesthouses, boarding houses and other establishments providing short term accommodation.

Meanwhile cost of goods sold and compensation of employees totalled $18.3 billion in 2010. Gross surplus increased from $7.3 billion in 2009 to $10.8 billion in 2010, accounting for 37.1% of total receipts in 2010. Value added increased significantly by 29.7% over 2009 to $18.9 billion.

Overall, the import/export, wholesale and retail trades, and accommodation and food services sectors' total receipts (i.e. sales and other receipts) amounted to $4,132.7 billion in 2010, representing an increase of 17.9% over 2009; on a per establishment basis, total receipts increased by 13.2% compared with 2009 to $24.5 million in 2010.