Shakespeare said in Hamlet /"the time is out of joint. /"The current state of affairs is in flux. Old ideals, ethics, and orders collapse rapidly and new habits, norms and systems have not yet been established. Everything has lost its familiar support, the world is in painful uncertainty, and the future is unknown... Similar to the situation and. grievance in Shakespeare's period, in recent times the massive Chinese state-owned hotel industry has lost its direction and entered a period of indecision. State-owned assetsgradually withdrew from the industry while foreign-funded hotels, swept along with the tide of globatization, aggressively entered the market. How to reform the tens of thousands of state- owned hotels, propel them into the market and withdraw the state-owned assets in an orderly way, and how to create local Chinese hotel brands considering the gamut of foreign brands, has undoubtedly become the historic responsibility of Chinese hotel operators and the future of the Chinese hotel industry.
