The Synergy Effect Study Of M&A Between Btg Hotels And Nanyuan Stock

In order to increase market share,expand enterprise scale and realize scale economy,enterprises will adopt many strategy measures,among which the most cost saving is to achieve goals through merger activities.However,not every merger is successful.In view of the current situation of merger,many enterprises fail to correctly understand and analyze the merger activities and their synergistic effects.After the merger,the acquired party's return to the acquirer can't offset the cost of the payment,which will also lead to the failure of the merger.Merger activities are only the beginning.Whether mergers and acquisitions can really bring good benefits to enterprises is a problem to be further explored.At present,the study of synergy still stays at the macro level,and lacks synergy effect analysis for specific enterprises or industries.In addition,scholars at home and abroad focused on the empirical study of synergy,and few studies on specific cases.The merger and acquisition of Nanyuan stock by the Btg Hotels is a typical case of the hotel industry.Through the strong combination among enterprises,it has a great influence on the hotel industry.Therefore,this paper will discuss the “synergy” in the process of merger and acquisition in a more systematic and comprehensive way,and put forward some suggestions for the merger and acquisition activities of the hotel enterprises,which has some practical significance.Based on the market competitiveness hypothesis theory,the scale effect theory and the efficiency theory,this paper takes the Btg Hotels merger and acquisition of Nanyuan stock as the representative,and analyzes the synergy effect of the case by the financial index method and the non-financial index method.According to the idea of”elaboration of related theories,analysis case,summarizing experience and inspiring”,we conclude the experience and method to achieve synergy effect.To analyze synergy effect,we must analyze comprehensively from motivation,measures and evaluation methods,and compare the changes of enterprises before and after mergers and acquisitions.From the analysis of the Btg Hotels,the acquisition improved business performance and market share and achieve the strategic goal.From the case summary,we can see the successful M&A should have clear market positioning,improve payment ways,optimize resource integration,and emphasize personnel training.Therefore,through case analysis,we hope to provide reference for hotel industry's M&A activities.