Study On Financial Strategy Of Beijing Tourism Hotel Under Asset-light Operation Mode

Under the background of comprehensively deepening reform,The State Council has issued relevant policies to vigorously promote the reform and development of tourism,and the hotel industry has ushered in new opportunities.However,the improvement of economic level,the transformation of consumption structure has led to increasingly fierce competition among industries,and the hotel industry itself has high operating costs,capital is too intensive and other characteristics,many hotel enterprises are facing certain financial difficulties.In response to the challenge,many companies are gradually shifting to an asset-light operating model.Whether the implementation and adjustment of the financial strategy are reasonable determines the success or failure of the enterprise’s transformation to asset light to a large extent.As one of the three leading hotels in the hotel industry,Beijing Travel Hotels has always followed the asset-light operation mode.It has been able to recover quickly after the huge impact of the novel coronavirus pandemic.In 2021,its net profit will turn from loss to profit,and it is expected to realize the two-way improvement of scale profitability in the post-COVID-19 era.On this basis,this paper takes Beijing Tourism Hotel as an example to study its financial strategy under the asset lightweight management mode.Firstly,literature analysis is used to sort out relevant domestic and foreign literature.Secondly,this paper briefly introduces Beijing Travel Hotels,and elaborates its transformation path from the asset-light operation mode implemented by it.Furthermore,it analyzes the implementation content of the financial strategy of Beijing Travel Hotel,Then,using the method of comparative analysis,this paper analyzes the implementation effect of its financing,investment and dividend distribution strategy.Under the asset lightweight management mode,finds out the problems existing in the financial strategy of Beijing Tourist Hotel and puts forward some optimization suggestions.Finally,the full text of the summary and prospects.Based on the research on the financial strategy of Beijing Travel Hotels under the asset-light operation mode,this paper mainly draws the following conclusions: First,Beijing Travel Hotels has adjusted its financial strategy to facilitate the asset-light transformation.The financing strategy is mainly exogenous financing and equity financing is superior to debt financing.More diversified and asset-light investment strategies;Carry out the thought of development before distribution,carry out the strategy of residual dividend.Second,the financial strategy under the asset-light operation mode of Beijing Travel Hotels has alleviated the financial dilemma to a certain extent.After the asset-light transformation,the phenomenon of cash shortage of Beijing Travel hotels has been improved,and the return on invested capital has been improved,showing a better trend in the state of capital and value.Thirdly,there are still some problems in the financial strategy of Beijing Travel Hotel under the asset-light operation mode.The main performance is that excessive dependence on external financing leads to greater financing risk;The efficiency of investment is not high,and the return of investment funds is slow;The level of dividend payment fluctuates greatly and the stability of dividend distribution is poor.The innovation of this paper has two aspects: first,the research object is unique.Most of the previous literatures on financial strategy under asset-light operation mode focus on real estate,home appliances and other industries.In this paper,Beijing Tourism Hotel,one of the leading enterprises in the hotel industry,is selected to deeply analyze the implementation effect of financial strategy under asset-light operation mode of hotel enterprises.Second,the research framework is novel.This paper establishes the thinking framework of "asset-light operation mode—asset-light transformation path—financial strategy implementation content—overall analysis of financial strategy matrix—analysis of specific effects of financial strategy".