A Case Study On The Financial Performance Of L Hotel M&A Of H Hotel

Since the western capital market launched the first wave of M&A in the 20 th century,there have been five global M&A waves.With the significant increase in the market competition environment and the rapid development of economic globalization,the scale and capital of domestic enterprises' mergers and acquisitions have shown a rapid growth trend.The hotel industry will face new challenges after undergoing rapid development.Mergers and acquisitions can make the relationship of the industry closer,and can also upgrade the structure of the enterprise to form a more profitable organization.Corporate M&A activities are becoming more and more common both internationally and domestically,and a qualified merger will bring higher operational efficiency to the company.Scholars have published many articles around this topic and have achieved considerable research results.This paper starts with the motivation and prospect of L hotel merger and acquisition of H hotel,combined with the valuation theory of mergers and acquisitions,based on the relevant theories published by domestic and foreign scholars on M&A and M&A performance,according to the market position of the hotel industry,through the financial indicator method Analysis of the performance of L Hotel M&A H Hotel.It is hoped that the development prospects of corporate mergers and acquisitions for China's small and medium-sized enterprises will be more objectively and realistically evaluated,and the resource integration of the hotel industry will be realized.This paper analyzes the valuation process selection,valuation process and valuation results in the valuation process of one of the key steps of M&A activities,and systematically analyzes the confirmation of the final value of the M&A enterprises.Through the analysis of this case,it was found that L Hotel acquired H Hotel mainly to expand the scale,reduce operating costs,and strengthen the innovation mechanism.Although the M&A activity has been basically completed,the integration risk of L Hotel is still relatively large.The synergy effect of L Hotel's final M&A depends on the integration measures of L Hotel in terms of personnel,strategic goals and business.