Horwath Asia Pacific and China Tourist Hotels Association have jointly published the 2003 China Hotel Industry Study, the first study of its kind ever published in China.

The 2003 China Hotel Industry Study is by far the most extensive and detailed hotel operation survey ever conducted in China. The study includes data from 248 hotels with 71,883 rooms, including 46 percent of the 5 star and 20 percent of the 4 star hotel room inventories in China in 2002. This year`s study also captured data from every province of the country.

This landmark 40-page study details revenues, expenses, profitability as well as other operational and marketing statistics for the 3, 4 and 5 star hotel markets in China. It follows the Uniform Systems of Accounts for Hotels and categorizes results by star rating, management models, average room rate and major cities. Horwath Asia Pacific and the China Tourist Hotels Association will make this an annual publication for the China hotel industry.

Mr. Robert Hecker, the Managing Director of Horwath Asia Pacific commented: the overwhelming response in this inaugural publication is indicative of the industry`s keen interest in having a means to gauge industry averages on operations and financial performance. The China Hotel Industry Study provides a new, powerful analytical tool for industry participants to measure and benchmark their respective property results and identify actionable areas for improvement.

Mr. Lv Hai Yan, the President of China Tourist Hotels Association commented: The China Hotel Industry Study is landmark study with great significance for the China hotel industry. It provides hotel owners, managers, developers and financiers access to valuable benchmarking data, promoting an overall healthy development of hotel industry. We hope this study will promote the synchronization of financial and operation data for the China hotel industry with international standards, facilitate better information sharing and hopefully lead to the rational development and long-term prosperity of the industry as a whole.

Aside from the China Hotel Industry Study, Horwath also publishes similar hotel industry studies for Singapore, Indonesia, Malaysia, Japan and 15 other key markets around the world.