The hospitality industry has always enjoyed favor of capital because of its special industry attributes. However, in changing period of market consumption renewal and consumption stratification, especially in context of normalization of epidemic prevention and control, the hotel industry needs to seriously think about investment thinking of Chinese hotels, establish a new understanding of capital. , and return hotels to a normal, rational and scientific direction of investment. The so-called "capital hotel" refers to a hotel built in terms of capital, using hotel, or simply using hotel as a trump card, according to logic of operation of capital, and not logic of operation of hotel. From a hotel point of view, this type of hotel lacks a market base and product logic, not to mention sustainability. From point of view of capital, when attractiveness of hotel business decreases, risk of capital depreciation increases accordingly. In context of normalization of epidemic prevention and control, when some structural problems seriously impede development of hotels, hotel industry should change its former investment thinking and create investments that promote healthy development of industry and closely link investments. with a market, investment and income mechanism to form a rational and scientific understanding of "hotel capital". "Hotel capital" refers to investment behavior of hotel, which follows internal logic of construction, operation and management of hotel, is closely related to market, and has a good investment and income status. In this state, operation of capital is sufficient for hotel to be formed with good quality, continuous innovation and sustainable development. First of all, logical consistency is a prerequisite for investing in a hotel. It requires hotel to make great efforts before investing, and it is necessary to get rid of all interference and psychology of chance, conduct rigorous pre-investment research, and build market positioning, scale positioning, class positioning, functional positioning, product positioning, on this basis. style positioning, etc. Investment quota positioning, price positioning, etc. include a logical closed cycle of survival and development, checking feasibility of investments and minimizing risks of making investment decisions. Second, element measurement is basis for realizing hotel's investment benefits. This requires hotel to pay close attention to conversion efficiency of product revenue in actual investment process, from early design and construction to subsequent operations management. It is necessary to pay attention to average room price, average occupancy, RvePar, GOP and income per capita population in hotel. State of mainoperational data, such as capacity, efficiency, profit and consumption, to ensure safety and profitability of investments. Finally, human capital is one of most important investments of a hotel and needs attention. For a long time, we considered hotels to be labor-intensive industries, however, employment of hotel workers requires professionalism and professional skills to support them, therefore investment in human capital is most profitable and profitable project among all hotel investments. The theory of investment in human capital was put forward by American Nobel laureate Shultz in early 1960s. Its main concept is that human capital is related to tangible capital and refers to intangible capital represented by quantity and quality of labor converted from capital investment costs. Another well-known researcher of human capital theory, Gareth Becker, pointed out that investments used to increase value of people, that is, useful ability and influence on future consumption and money income, are investments in human capital. It can be seen that investment in human capital is an important condition for investment in hotel business to realize added value. But we have not introduced concept of human capital for a long time and excluded academic knowledge, managerial wisdom and professional skills of practitioners from profit sharing mechanism of hotel.Human capital cannot be converted into income. and Wisdom's work fails to get reward it deserves, resulting in a weak talent team. In face of severe human resource difficulties in hospitality industry, hotel needs to pay attention to role and importance of human capital mechanism, and it is also necessary to introduce appropriate measures to encourage employees to improve their professional level. skills and innovative service products. The level of professional management and professional skills are cornerstones for enhancing vitality and creativity of a hotel organization, and a prerequisite for a hotel to achieve product value recognition, recognition of professional qualifications and public recognition in industry. People development should be most important thing for a hotel Job is an investment method that creates maximum value with minimum investment. Summarizing, hotel industry should raise awareness of "hotel capital", use a new perspective to look at demand-side changes in context of normalization of epidemic prevention and control, and use new ideas to think about how to reduce losses as quickly as possible and get out of heat of epidemic as quickly as possible.