Based on enterprise ownership, by using super-efficiency DEA and Malmquist index method, the static efficiency and dynamic productivity of China’s five-star hotels during 2002—2009 are analyzed, and the research finds that China’s five-star hotels stay at relatively efficient state but their average annual TFP growth rate is -3.4 percent, that there is significant difference in efficiency between the five-star hotels with different ownership, among which the five-star hotels with collective ownership outshine others based on their scale enlargement and their average annual TFP growth rate reaches 14.6 percent, however, the five-star hotels with domestic capital result from their scale enlargement so as to make their technical benefit obviously higher than that of the hotels with foreign capital, but TFP growth rate and technical progress growth rate of the five-star hotels with foreign capital are 2.7 percent and 6.5 percent higher than that of the hotels with domestic capital respectively. Currently, China’s hotel industry growth belongs to scale-driven growth and has low technical progress contribution rate, as a result, Chinese Government should boost hotel industry from scale-driven growth to technical-progress-driven growth.