Study On The Motivation And Performance Of The M&A About BTG Hotels Merges Home Inns

Mergers and acquisitions(M&A)is a kind of increasingly mature economic behavior with the development of The Times.It is also a kind of market behavior to effectively allocate resources to achieve its own development.Generally speaking,the implementation of merger and acquisition strategy is to surpass competitors and achieve the healthy development of enterprises.Therefore,in the new era environment,China and even the world set off a boom in mergers and acquisitions,covering a wide range of industries,involving a huge amount of money.In China alone,there were more than 8,000 mergers and acquisitions involving a total of 28,664.66 billion yuan in 2017.Therefore,this paper focuses on the current economic boom,selects the rapidly rising BTG hotel in the hotel industry as the research object,studies its M&A motivation and performance,and evaluates whether BTG hotel's performance meets the enterprise requirements after M&A.BTS is 100% controlled by the state-owned assets supervision and administration commission of Beijing municipal people's government.Focusing on the operation and management of medium and high-end hotel assets,BTS is a leading enterprise with a certain scale and market influence.Incorporated in cayman islands,home inns was formally listed on nasdaq stock exchange in the United States in 2006.It attaches great importance to the brand operation and management of business travel chain hotels and the business philosophy of "affordable,warm and convenient".It is the largest hotel brand among domestic business brands.In April 2016,the two realized the combination between the strong and the weak,and this event became a representative cooperation event in 2016.Therefore,this paper chooses it as the representative to study.Through case analysis and financial data research,this paper divides the research content into three parts.The first part focuses on the relevant theoretical knowledge of mergers and acquisitions in this paper.It starts with the introduction of the outline of merger and acquisition,and then develops the motivation and performance theory of merger and acquisition.The second part,combined with the case of the merger and acquisition of BTG hotels and home inns,first describes the relevant situation of BTG hotels and home inns,including the overview of the two and the merger process.And then,focus on the analysis of the reasons for the merger of BTS hotels and the effect of the merger.The fourth part draws a conclusion through the case study of the merger and acquisition of home inns by BTS hotels,and concludes that the merger and acquisition transaction can be used for reference by enterprises in the same industry.Through the application of EVA index evaluation method and non-financial index analysis method,the conclusion is drawn that the merger and acquisition of BTS hotel such as home hotel has initially achieved the initial goal of merger and acquisition after the gradual operation and integration,to achieve the good goal of win-win development of strong alliance.