This article mainly analyzes the investment and management development of the tourism and accommodation industry. Owners are facing problems such as low return on investment and low cash flow. In recent years，they have paid more attention to hotel asset management. Property management：Self-owned properties need to achieve stable cash flow through quality management and long-term operation. Brand management：Soft brands are favored because they are more balanced in coordinating the interests of owners and brands. Management output：The franchise model meets the owner’s more autonomy，and the proportion has increased significantly.