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SASAC Investigates Assets Of State-Owned Hotels
August 21, 2007 |
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| Category: Industry News
To fully understand the basic situation of the hotel asset of each state-owned enterprise, the Statistics and Evaluation Department of State-owned Assets Supervision and Administration Commission of the State Council has recently conducted an investigation on these kinds of hotels and asked 157 state-owned enterprises to submit the concerned files to it before September 15, 2007.
As required by SASAC, all hotels, training centers, conference centers, reception centers, guest houses, resorts, nursing homes and representative offices of government-owned enterprises and their affiliates should be included in the investigation, in which their background and financial details shall be investigated.
Since the reform of the separation of the major and minor businesses of state-owned enterprises was carried out, the hotel assets of each state-owned enterprise has been handed over to an industrial company and most of these hotels assumed sole responsibility for their profits and losses.
However, due to problems in management and marketing, many of these hotels have yet to achieve sustainable development after the reduction of investment from their parent companies.
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