Investigation report on Lijiang Yulong Garden Hotel Co., Ltd.
Investigation report on Lijiang Yulong Garden Hotel Co., Ltd.
From February 27 to March 2, 2004, Zheng Weixing, deputy secretary-general of the State People's Government, was appointed as the team leader, the State Economic and Trade Commission, the State Enterprise Reform Office, and the Xishuangbanna Hotel. The investigation team consisted of Lijiang Yulong Garden Hotel. The company has conducted inspections and has conducted discussions and field visits with local hotel associations, industry and commerce, taxation, banking, economic and trade commissions, tourism bureaus, etc. The relevant reports will now be examined as follows:
I. Lijiang Yulong Garden Hotel Co., Ltd. Lijiang Yulong Garden Hotel Co., Ltd. is a large-scale non-public ownership system integrating hotel, real estate development, property management and cultural performances jointly invested by Shanghai Zhiheng Digital Technology Co., Ltd. and Tianjin Huatai Group. enterprise. The company was incorporated on January 27, 2000 in Dayan Town, Lijiang City, Yunnan Province, with a registered capital of 12 million yuan. It is now under the jurisdiction of Lijiang Sunshine Garden Real Estate Development Co., Ltd., Lijiang Yulong Garden Hotel, Yulong Jixin Garden Performing Arts Company. Shanghai Branch, Wenzhou Branch and Beijing Branch. In a subsidiary company:
Lijiang Yulong Garden Hotel is a multi-functional hotel with the largest investment and the highest star rating in Lijiang. The hotel is located in the ancient city of Lijiang in the world cultural heritage. The architectural features follow the style of Naxi courtyard house, and the whole hotel is integrated with the ancient city. The hotel hardware is fully equipped according to the international four-star standard, plus the hotel's first-class service, praised by guests from all over the world, the annual housing rate is over 80%. In 2003, Lijiang Yulong Garden Hotel Co., Ltd. has only eight and a half months of operation. The annual sales income is 16.63 million yuan, all taxes are over 1.3 million yuan, net profit is 6.35 million yuan, and monthly average sales income is 1.956 million. Yuan, monthly average profit of 747,100 yuan. The accumulated net profit was 15.1143 million yuan. By the end of 2003, the total assets of Lijiang Yulong Garden Hotel Co., Ltd. had reached 149,317,100 yuan, of which current assets were 28,391,800 yuan, fixed assets were 10,346,300 yuan, intangible and deferred assets were 17.64 million yuan; liabilities were 4,995,500 yuan, and asset-liability ratio It is 33.45%.
Lijiang Sunshine Garden Real Estate Development Co., Ltd. developed the first phase of Sunshine Garden Villa Community to create the first construction speed, the first sales speed, the largest specification and the highest grade performance in Lijiang. Staying in the community has become the yearning for Lijiang successful people.
Yulong Jixin Culture Company has more than 150 employees and more than 50 actors. The performance of the Yulong Ancient Banquet is composed of 5 Naxi-style programs. It is highly praised by guests and is a must-see program for Lijiang government guests.
At present, the company is planning the second phase of the Yulong Garden Hotel project - the Yulong Garden Holiday Hotel project has been approved by the relevant departments of Lijiang City. The project is highly valued and strongly supported by the Lijiang Municipal Party Committee and the Municipal Government as a demonstration project for Lijiang Tourism. The project is about to start construction. It is estimated that the investment will be 350 million yuan. After the completion of the hotel, it will be the largest and most star-sized multi-functional hotel in Lijiang. Upon completion, it will enter the market, international capital and asset-based operation with property rights mode. .
Under the advanced management mode, the company has fully entered the capital and asset operation stage, especially the effective use of the platform of Yulong Garden Hotel, through the operation of RCI and various sales companies, the new property hotel and timeshare concept Introduced Lijiang hotel industry and successfully pushed it into the market, and achieved good social and economic benefits.
Second, the operating characteristics of Lijiang Yulong Garden Hotel Co., Ltd. After the company was registered in Lijiang City with a capital of 12 million yuan in early 2000, with the strong support of the local government, it successfully acquired the original Lijiang County in Sifang Street, Gucheng with the support of the local government. Lishui Hotel, after which it acquired two private gardens, on the basis of this, to highlight the characteristics of the ancient city and protect the original architectural style, the overall planning and construction of the acquired real estate, forming the current Yulong Garden Hotel. Later, the company established Lijiang Sunshine Garden Real Estate Co., Ltd. and successfully developed the Lijiang Sunshine Garden Villa Community, which achieved good results in terms of construction speed, sales speed and economic benefits. In the past four years, the company has successively established enterprises such as Yulong Jixinyuan Performing Arts Company, Shanghai Branch, Wenzhou Branch and Beijing Branch. As of December 31, 2003, the company's total assets have reached 149 million yuan, liabilities of 0.5 billion yuan, net assets of 99 million yuan, of which only in 2003 to achieve operating income of 16.44 million yuan, total profits 6.35 million yuan. In the past four years, the accumulated profits have reached 15.14 million yuan, and the company has entered a stage of benign development. The reason why the company achieved such a splendid performance is mainly its strategic business philosophy of high starting point and rapid development in its operation. It has gathered a large number of outstanding management talents from all over the country, introduced advanced management experience, and established a strong nationwide. Marketing network system. Highlighted in the following aspects:
Operation in the property-based hotel mode, that is, using the hotel room as the operating unit, the room is divided into independent property rights and sold to investors. After the investor purchases the property rights, the room is entrusted to the hotel management company for unified operation to obtain the annual room management. Profits, at the same time, investors have a free time to stay, and the preferential policies enjoyed by the hotel, investors have the right to transfer, give birth, mortgage and inheritance after obtaining the property rights of the room. Thanks to the company's extensive business experience and a well-established sales network, it gives investors a good return. This mode of operation also makes it possible for hotel assets to participate in the international capital market. At the same time, the investment risk of the hotel has been greatly dispersed, and the diversification of corporate property rights has been realized.
Actively promote the timeshare sales model, the company has joined the largest timeshare agency RCI in the world, using the form of selling membership cards, with 20 years as the first phase, enjoying 7 days of free housing every year, through the RCI timeshare exchange system, Choose from 3,700 hotels around the world to make it easy to travel around the world. This sales model will have more consumers as the income of residents increases. At present, its customers are mainly overseas and coastal developed areas. This model is also a concrete manifestation of the advanced business philosophy of expanding and fixing consumers.
Grasp the market opportunities and carry out diversified operations. The company takes Yulong Garden Hotel as its development platform and fully grasps the market opportunities. It has successfully invested in the operation of Lijiang Sunshine Garden Villa Community and the project of Yulong Jixin Garden Performing Arts Company, which have achieved good returns. Not only has it achieved good returns, but it has also established a corporate brand in the local area and accumulated funds and talents for the rapid development of the company. At present, the company has acquired 200 acres of land in Lijiang and invested in the construction of a five-star hotel with 1,200 rooms, some of which operate as property-type hotels.
Flexible and effective management and perfect security system Yulong Garden Hotel Co., Ltd. currently has more than 600 employees, of which upper management personnel are recruited from all over the country, engaged in corporate capital operation, development planning, financial management, human resource allocation management and marketing research. The talents in other fields have laid a good foundation for the company to improve management. The operation practice since the establishment of the company proves that this set of management is effective.
In order to stabilize the company's management personnel and grassroots employees, the company has established 9 levels of 17 skills salary + benefit salary + other incentives based on the "salary and welfare provisions", the minimum post salary of 500 yuan, the highest post salary of 3,500 yuan, and Employees pay pension insurance, unemployment insurance, work injury insurance, maternity insurance and medical insurance. As the company has a good business and significant benefits, it also gives employees 15 days of paid vacation every year. Gifts are given in terms of meals, holiday benefits, employee birthdays, weddings and funerals, etc. Therefore, for the moment, company management personnel The grassroots employees are relatively stable, and their internal management practices are orderly.
III. Opinions and Suggestions Through field visits and discussions with relevant management departments, the inspection team has fully discussed and consistently formed the following opinions:
Economic ability: Yulong Garden Hotel Co., Ltd. ended December 31, 2003, with a total assets of 149 million yuan, corporate net assets of 99.37 million yuan, of which undistributed profit of 15.14 million yuan, asset-liability ratio of 33.5%, ABC It is rated as an AA-level enterprise. The company's return on net assets, total return on investment, asset-liability ratio, capital accumulation rate and tax benefits and average annual income of employees are all in an advanced and reasonable range. The existing economic capacity can purchase Xishuangbanna Hotel.
Management ability: After registering in Lijiang, the company has accumulated considerable management experience after four years of operation. The company's upper management personnel come from all over the country and have high management quality, especially in capital operation and financial management. experience. The company's property-based hotel operation model implemented in Lijiang and the sales model of the RCI timeshare exchange system are forward-looking. Taken together, the company has the ability to manage and operate the Xishuangbanna Hotel.
Operating capacity: Since the establishment of the company, it has achieved good performance by highlighting the national characteristics of the hotel and cultural performances. It has established branches in Beijing, Shanghai and Wenzhou, and initially formed its own sales network. RCI also makes its overseas sales smooth. In addition to operating the hotel industry, the company has also developed in real estate development, property management and cultural performances, indicating that the company has strong operational and development capabilities.
Lijiang Yulong Garden Hotel Co., Ltd. promises: After purchasing the net assets of Xishuangbanna Hotel according to the enterprise reform policy, it will invest 80 million yuan to renovate and expand the hotel. The renovation will be completed during the year. The main renovation and expansion projects are:
1. Add a three-storey palace-style building at the current parking lot location and remove all existing walls. Its functions include lobby, dining and conference venues.
2. Demolition of old facilities such as the banquet hall, surrounding two-story buildings and boilers, and a new six-story guest room area in its location, with 400 new rooms.
3. Completely renovate and decorate the existing 3 villas, and add 5 squat villas, 1 swimming pool and a rafting well to the surrounding area.
4. Internal and external renovation and renovation of Wangjiang 1-4 Building, all the above columns will be closed, all the walls will be demolished, and the first floor will be transformed into a shop, which will form a commercial and entertainment circle together with the riverside. In view of the current situation of the newly-developed villas in the riverside blocking the landscape of the Wangwang River, the company will remove 10 blocks from the appropriate machine, which is higher than the existing villas with ethnic characteristics of the riverside villas to reproduce the Wangjiang landscape.
5. Adding and expanding the original lack of services and functional facilities, equipped with split air conditioners, fresh air systems, fire protection systems, monitoring systems, and multi-function conference network automation systems.
6. Expand and transform the existing restaurant with astringency into a large-scale ethnic performance hall.
In terms of staff placement, it is promised to receive all employees and redeem the resettlement fees according to the enterprise reform policy.
Comments and suggestions:
Through the investigation of the economic, management and management capabilities of Lijiang Yulong Garden Hotel Co., Ltd. and the evaluation of the community, the inspection team believes that it is feasible to use Lijiang Yulong Garden Co., Ltd. as the main body of Xishuangbanna Hotel. After the agreement is concluded, the financial, auditing, land and tax departments should be organized to handle specific procedures.
Organize relevant personnel from Xishuangbanna Hotel to visit and study at Lijiang Yulong Garden Hotel to enhance mutual understanding.
Yulong Garden Hotel explained its acquisition plan at the staff meeting of Xishuangbanna Hotel, introduced its business ideas and development plans, and publicized the staff resettlement policy and employment mechanism to obtain the support of Xishuangbanna hotel staff.
If the company is purchased by negotiation and negotiation, it should be clear that the remaining net assets shall be disposed of in accordance with the sale, except for the replacement of state-owned employee compensation and retirees-related expenses as required by the policy.
The merger and acquisition work is best completed by April 10, 2004.
From February 27 to March 2, 2004, Zheng Weixing, deputy secretary-general of the State People's Government, was appointed as the team leader, the State Economic and Trade Commission, the State Enterprise Reform Office, and the Xishuangbanna Hotel. The investigation team consisted of Lijiang Yulong Garden Hotel. The company has conducted inspections and has conducted discussions and field visits with local hotel associations, industry and commerce, taxation, banking, economic and trade commissions, tourism bureaus, etc. The relevant reports will now be examined as follows:
I. Lijiang Yulong Garden Hotel Co., Ltd. Lijiang Yulong Garden Hotel Co., Ltd. is a large-scale non-public ownership system integrating hotel, real estate development, property management and cultural performances jointly invested by Shanghai Zhiheng Digital Technology Co., Ltd. and Tianjin Huatai Group. enterprise. The company was incorporated on January 27, 2000 in Dayan Town, Lijiang City, Yunnan Province, with a registered capital of 12 million yuan. It is now under the jurisdiction of Lijiang Sunshine Garden Real Estate Development Co., Ltd., Lijiang Yulong Garden Hotel, Yulong Jixin Garden Performing Arts Company. Shanghai Branch, Wenzhou Branch and Beijing Branch. In a subsidiary company:
Lijiang Yulong Garden Hotel is a multi-functional hotel with the largest investment and the highest star rating in Lijiang. The hotel is located in the ancient city of Lijiang in the world cultural heritage. The architectural features follow the style of Naxi courtyard house, and the whole hotel is integrated with the ancient city. The hotel hardware is fully equipped according to the international four-star standard, plus the hotel's first-class service, praised by guests from all over the world, the annual housing rate is over 80%. In 2003, Lijiang Yulong Garden Hotel Co., Ltd. has only eight and a half months of operation. The annual sales income is 16.63 million yuan, all taxes are over 1.3 million yuan, net profit is 6.35 million yuan, and monthly average sales income is 1.956 million. Yuan, monthly average profit of 747,100 yuan. The accumulated net profit was 15.1143 million yuan. By the end of 2003, the total assets of Lijiang Yulong Garden Hotel Co., Ltd. had reached 149,317,100 yuan, of which current assets were 28,391,800 yuan, fixed assets were 10,346,300 yuan, intangible and deferred assets were 17.64 million yuan; liabilities were 4,995,500 yuan, and asset-liability ratio It is 33.45%.
Lijiang Sunshine Garden Real Estate Development Co., Ltd. developed the first phase of Sunshine Garden Villa Community to create the first construction speed, the first sales speed, the largest specification and the highest grade performance in Lijiang. Staying in the community has become the yearning for Lijiang successful people.
Yulong Jixin Culture Company has more than 150 employees and more than 50 actors. The performance of the Yulong Ancient Banquet is composed of 5 Naxi-style programs. It is highly praised by guests and is a must-see program for Lijiang government guests.
At present, the company is planning the second phase of the Yulong Garden Hotel project - the Yulong Garden Holiday Hotel project has been approved by the relevant departments of Lijiang City. The project is highly valued and strongly supported by the Lijiang Municipal Party Committee and the Municipal Government as a demonstration project for Lijiang Tourism. The project is about to start construction. It is estimated that the investment will be 350 million yuan. After the completion of the hotel, it will be the largest and most star-sized multi-functional hotel in Lijiang. Upon completion, it will enter the market, international capital and asset-based operation with property rights mode. .
Under the advanced management mode, the company has fully entered the capital and asset operation stage, especially the effective use of the platform of Yulong Garden Hotel, through the operation of RCI and various sales companies, the new property hotel and timeshare concept Introduced Lijiang hotel industry and successfully pushed it into the market, and achieved good social and economic benefits.
Second, the operating characteristics of Lijiang Yulong Garden Hotel Co., Ltd. After the company was registered in Lijiang City with a capital of 12 million yuan in early 2000, with the strong support of the local government, it successfully acquired the original Lijiang County in Sifang Street, Gucheng with the support of the local government. Lishui Hotel, after which it acquired two private gardens, on the basis of this, to highlight the characteristics of the ancient city and protect the original architectural style, the overall planning and construction of the acquired real estate, forming the current Yulong Garden Hotel. Later, the company established Lijiang Sunshine Garden Real Estate Co., Ltd. and successfully developed the Lijiang Sunshine Garden Villa Community, which achieved good results in terms of construction speed, sales speed and economic benefits. In the past four years, the company has successively established enterprises such as Yulong Jixinyuan Performing Arts Company, Shanghai Branch, Wenzhou Branch and Beijing Branch. As of December 31, 2003, the company's total assets have reached 149 million yuan, liabilities of 0.5 billion yuan, net assets of 99 million yuan, of which only in 2003 to achieve operating income of 16.44 million yuan, total profits 6.35 million yuan. In the past four years, the accumulated profits have reached 15.14 million yuan, and the company has entered a stage of benign development. The reason why the company achieved such a splendid performance is mainly its strategic business philosophy of high starting point and rapid development in its operation. It has gathered a large number of outstanding management talents from all over the country, introduced advanced management experience, and established a strong nationwide. Marketing network system. Highlighted in the following aspects:
Operation in the property-based hotel mode, that is, using the hotel room as the operating unit, the room is divided into independent property rights and sold to investors. After the investor purchases the property rights, the room is entrusted to the hotel management company for unified operation to obtain the annual room management. Profits, at the same time, investors have a free time to stay, and the preferential policies enjoyed by the hotel, investors have the right to transfer, give birth, mortgage and inheritance after obtaining the property rights of the room. Thanks to the company's extensive business experience and a well-established sales network, it gives investors a good return. This mode of operation also makes it possible for hotel assets to participate in the international capital market. At the same time, the investment risk of the hotel has been greatly dispersed, and the diversification of corporate property rights has been realized.
Actively promote the timeshare sales model, the company has joined the largest timeshare agency RCI in the world, using the form of selling membership cards, with 20 years as the first phase, enjoying 7 days of free housing every year, through the RCI timeshare exchange system, Choose from 3,700 hotels around the world to make it easy to travel around the world. This sales model will have more consumers as the income of residents increases. At present, its customers are mainly overseas and coastal developed areas. This model is also a concrete manifestation of the advanced business philosophy of expanding and fixing consumers.
Grasp the market opportunities and carry out diversified operations. The company takes Yulong Garden Hotel as its development platform and fully grasps the market opportunities. It has successfully invested in the operation of Lijiang Sunshine Garden Villa Community and the project of Yulong Jixin Garden Performing Arts Company, which have achieved good returns. Not only has it achieved good returns, but it has also established a corporate brand in the local area and accumulated funds and talents for the rapid development of the company. At present, the company has acquired 200 acres of land in Lijiang and invested in the construction of a five-star hotel with 1,200 rooms, some of which operate as property-type hotels.
Flexible and effective management and perfect security system Yulong Garden Hotel Co., Ltd. currently has more than 600 employees, of which upper management personnel are recruited from all over the country, engaged in corporate capital operation, development planning, financial management, human resource allocation management and marketing research. The talents in other fields have laid a good foundation for the company to improve management. The operation practice since the establishment of the company proves that this set of management is effective.
In order to stabilize the company's management personnel and grassroots employees, the company has established 9 levels of 17 skills salary + benefit salary + other incentives based on the "salary and welfare provisions", the minimum post salary of 500 yuan, the highest post salary of 3,500 yuan, and Employees pay pension insurance, unemployment insurance, work injury insurance, maternity insurance and medical insurance. As the company has a good business and significant benefits, it also gives employees 15 days of paid vacation every year. Gifts are given in terms of meals, holiday benefits, employee birthdays, weddings and funerals, etc. Therefore, for the moment, company management personnel The grassroots employees are relatively stable, and their internal management practices are orderly.
III. Opinions and Suggestions Through field visits and discussions with relevant management departments, the inspection team has fully discussed and consistently formed the following opinions:
Economic ability: Yulong Garden Hotel Co., Ltd. ended December 31, 2003, with a total assets of 149 million yuan, corporate net assets of 99.37 million yuan, of which undistributed profit of 15.14 million yuan, asset-liability ratio of 33.5%, ABC It is rated as an AA-level enterprise. The company's return on net assets, total return on investment, asset-liability ratio, capital accumulation rate and tax benefits and average annual income of employees are all in an advanced and reasonable range. The existing economic capacity can purchase Xishuangbanna Hotel.
Management ability: After registering in Lijiang, the company has accumulated considerable management experience after four years of operation. The company's upper management personnel come from all over the country and have high management quality, especially in capital operation and financial management. experience. The company's property-based hotel operation model implemented in Lijiang and the sales model of the RCI timeshare exchange system are forward-looking. Taken together, the company has the ability to manage and operate the Xishuangbanna Hotel.
Operating capacity: Since the establishment of the company, it has achieved good performance by highlighting the national characteristics of the hotel and cultural performances. It has established branches in Beijing, Shanghai and Wenzhou, and initially formed its own sales network. RCI also makes its overseas sales smooth. In addition to operating the hotel industry, the company has also developed in real estate development, property management and cultural performances, indicating that the company has strong operational and development capabilities.
Lijiang Yulong Garden Hotel Co., Ltd. promises: After purchasing the net assets of Xishuangbanna Hotel according to the enterprise reform policy, it will invest 80 million yuan to renovate and expand the hotel. The renovation will be completed during the year. The main renovation and expansion projects are:
1. Add a three-storey palace-style building at the current parking lot location and remove all existing walls. Its functions include lobby, dining and conference venues.
2. Demolition of old facilities such as the banquet hall, surrounding two-story buildings and boilers, and a new six-story guest room area in its location, with 400 new rooms.
3. Completely renovate and decorate the existing 3 villas, and add 5 squat villas, 1 swimming pool and a rafting well to the surrounding area.
4. Internal and external renovation and renovation of Wangjiang 1-4 Building, all the above columns will be closed, all the walls will be demolished, and the first floor will be transformed into a shop, which will form a commercial and entertainment circle together with the riverside. In view of the current situation of the newly-developed villas in the riverside blocking the landscape of the Wangwang River, the company will remove 10 blocks from the appropriate machine, which is higher than the existing villas with ethnic characteristics of the riverside villas to reproduce the Wangjiang landscape.
5. Adding and expanding the original lack of services and functional facilities, equipped with split air conditioners, fresh air systems, fire protection systems, monitoring systems, and multi-function conference network automation systems.
6. Expand and transform the existing restaurant with astringency into a large-scale ethnic performance hall.
In terms of staff placement, it is promised to receive all employees and redeem the resettlement fees according to the enterprise reform policy.
Comments and suggestions:
Through the investigation of the economic, management and management capabilities of Lijiang Yulong Garden Hotel Co., Ltd. and the evaluation of the community, the inspection team believes that it is feasible to use Lijiang Yulong Garden Co., Ltd. as the main body of Xishuangbanna Hotel. After the agreement is concluded, the financial, auditing, land and tax departments should be organized to handle specific procedures.
Organize relevant personnel from Xishuangbanna Hotel to visit and study at Lijiang Yulong Garden Hotel to enhance mutual understanding.
Yulong Garden Hotel explained its acquisition plan at the staff meeting of Xishuangbanna Hotel, introduced its business ideas and development plans, and publicized the staff resettlement policy and employment mechanism to obtain the support of Xishuangbanna hotel staff.
If the company is purchased by negotiation and negotiation, it should be clear that the remaining net assets shall be disposed of in accordance with the sale, except for the replacement of state-owned employee compensation and retirees-related expenses as required by the policy.
The merger and acquisition work is best completed by April 10, 2004.
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