In order to satisfy heating,cooling and domestic hot water demand and energy conversion in luxury hotels,a feasible and novel multi-generation system taking advantage of the two-stage compressor was proposed and analyzed.The feature of this novel system is that the compressing power can be reduced and domestic water can be generated at the same time by adopting two-stage compressors instead of conventional one-stage compressor with a high compressing ratio.The energy-saving mechanism and two operating modes were introduced in detail.In a further way,the thermodynamic performance was calculated by Aspen Plus so as to make a better understanding of this novel system.And the calculation results showed that,in summer and transition seasons operating mode,the system can obtain COP (Coefficient of Performance) 7.3,and 60℃ domestic hot water,when evaporating temperature is 4℃;while,in winter season operating mode,the system can obtain COP 3.1,and 58℃ domestic hot water,when evaporating temperature is-24℃.Compared with the conventional independent systems,this system can achieve higher energy-efficient,higher waste heat recovery,reduce energy consumption,and meet multiple energy demands simultaneously.