Tourist Hotels Operating Profit Forecast Model And Test

With China's economic reform and opening, the Chinese modern tourist hotel industry has entered into a prosperity development period and has achieved the tremendous successes. The huge market demand in 2008 Summer Olympics brings the new momentums for the Beijing hotel industry like a raging fire. While facing such a prosperous market, many hotel owners lack the scientific research and forecast on the relations among income, cost, expense and profit which happen during management processes. The over-estimated profit expectation enlarge the inconsistency between hotel owners and hotel management bodies, therefore it is hard to ensure the rights and interest to the investors. Based on the above situation, this paper is trying to build up a so-called "understandable bridge"between the hotel owner and management with the statistical and business forecast methodology and modern statistical tool by introducing simple and practical forecast modules to calculate hotel business income, cost and expenses, and operation profits. All the methodologies are tested by using many years'business data in Beijing Continental Grand Hotel.