A Comparative Study On Domestic And Foreign Economic Hotels Capital Operation

With the great success of socialist market economy, China's economy has developed rapidly and people's living standard has been improved significantly, in some sentence, China has entered the era of mass consumption. Since the Reform and Opening up, the third industry which is represented by tourism industry gets a continuous development. The number and amount of consumption on travel spending increased year by year. Economic hotel, which is featured as environmental friendly, comfortable, simple while affordable, has become an theme which is widely concerned by hotel investors. Various of capital pouring into the economy hotel market, In this context, how economic hotels make effective capital operation, how to optimize the structure of hotels own resources, how to look for potential investment opportunities, making full use of venture capital etc, how to make a new round of expansion and a maximum capital preservation and appreciation, how to enhance the hotel core competitiveness. Kinds of these questions become particularly important to economic hotel industry.This paper made its research under the background of economic hotels development. The author first made an analysis of domestic and international economic hotels development history, then the author made a discussion of the necessity of contributing China's economy hotel capital operation, then the author made an comparative study on economic hotel financing, capital investment, expansion and development. The paper summarized the similarities and differences in capital operation both domestic and foreign economic hotel.On this basis, this paper selected some listed economic hotels as the research object, based on data and information comes from annual reports 2010 of these hotels, combined with the characteristics and objectives of capital operation, the author selected the performance evaluation, used factor analysis as a tool in a empirical analysis to test capital operation performance both domestic and foreign economic hotels. At the end of this paper, the author summed up and proposed a number of policy recommendations for hotels in different development stages.