China's richest village is making news again after a recent report by China Central Television (CCTV), says the local luxury 5-star hotel make a daily profit of 520,000 yuan ($82,543).

The 328-meter-tall Long Wish Hotel International in Huaxi in East China's Jiangsu province cost 3 billion yuan ($470 million) to build collected from more than 200 families in the village and local committee.

It boasts more than 800 guest rooms and has a huge banquet hall which can hold over 2,000 people. It has become one of the biggest independent hotels in China since it started operation in Oct 2011.

The hotel's Chief Financial Officer Li Shengnan displayed a balance sheet to a reporter, showing the turnover for Dec 9 as 1,490,000 yuan which contains guest room income of 99,700 yuan, food and beverage revenue of 280,000 yuan, and tourism receipts 210,000 yuan.

While the costs are also recorded as 970,000 yuan including 420,000 yuan depreciation cost and 198,000 yuan labor cost as well as 150,000 yuan operation cost.

"So the daily profit is 520,000 yuan," Li said, 520,000 yuan profit is only an average one. The hotel sometimes gains revenue of more than two millions a day and always at least 400,000 yuan.

Vice Chief of Huaxi village Zhou Li told the reporter "The village committee plans to recover the hotel's cost in three to five years which is achievable according to present situation." She further said there are around 2 million sightseeing visitors to Huaxi village, who have to buy 260 yuan gate tickets. The annual tourism revenue is four to five hundred million yuan (about $63.5 million to $79.4 million).