Performance Evaluation Of Asset Reorganization In Btg Hotels

With the rapid development of Chinese market economy,more and more enterprises are restructuring their assets.Through asset reorganization,enterprises can overcome the current crisis and challenges,solve a series of financial problems and improve the competitiveness of enterprises.For the country,asset restructuring has become an effective means to help it complete industrial restructuring and resource allocation.According to the current overall situation of the hotel industry,the way to enhance the competitiveness of enterprises and improve market share is asset restructuring.This thesis takes the assets reorganization of Btg Hotels from 2015 to 2016 as the research object,analyzes the performance before and after the assets reorganization of Btg Hotels,and obtains Suggestions for Btg Hotels and enlightenment for other enterprises.First of all,this asset restructuring of Btg Hotels was carried out in the form of acquisition of home inns.Through a detailed investigation of this case,it was elaborated from four aspects including the situation of both parties of the transaction,the background of asset restructuring,the motivation of asset restructuring,scheme and implementation process.Secondly,based on the perspective of market performance and financial performance of Btg Hotels assets restructuring performance analysis,so as to obtain comprehensive and detailed analysis results.Among them,Btg Hotels market performance evaluation using the event study method,can clear the impact of asset restructuring for market performance,it can be seen that Btg Hotels had a greater influence on the assets reorganization for short-term market performance,but from a long-term perspective,the assets reorganization has not brought to the market performance of enterprises continued optimization.In the analysis of financial performance,EVA analysis method is adopted as the main evaluation method and financial index analysis method as the auxiliary evaluation method to achieve the purpose of more complete evaluation results and avoid the limitations caused by the separate use of the twomethods.According to the calculation of EVA of Btg Hotels and the comparative analysis of it with the net profit,the growth rate of net profit and the return on net assets,it is found that the asset restructuring has brought a positive impact on the enterprise,which also proves the correctness of the asset restructuring of Btg Hotels.From the perspective of financial index analysis method,this thesis analyzes the financial performance of Btg Hotels before and after the asset restructuring.It shows that the debt paying ability of Btg Hotels is adversely affected,while its profitability and operation ability are not affected,but its development ability is positively affected.Therefore,from this perspective,the financial performance of Btg Hotels has not been significantly improved due to asset restructuring.Finally,based on the performance evaluation results of the asset restructuring of Btg Hotels,this paper proposes countermeasures for Btg Hotels to improve their performance in the future and brings enlightenment to other enterprises in the same industry.