Financial Performance Evaluation Of Jin Jiang Hotels Under Light Asset Operation Model

Nowadays,the domestic economy is steadily improving,the national income level is increasing,people are more and more in pursuit of high quality of life,travel has become an important way of leisure and relaxation,the development of China’s hotel industry is also booming with the tourism industry and as good as ever.However,the entry of foreign famous hotel brands and the increasing saturation of the domestic hotel market have made the traditional hotel enterprises suffer from the impact and decline in development.In addition,the tough international environment and the effects of the global epidemic have limited the sustainable development of asset-heavy hotel companies.In the face of many crises,the hotel industry has explored new development directions,and some hotels have transformed into asset-light operation mode to cope with risks and challenges,and have adjusted their business ideas appropriately under this mode to rejuvenate their enterprises.Based on the core competence theory,smile curve theory,principal-agent theory and industrial value chain theory,the thesis takes Jin Jiang Hotels,a hotel enterprise that has carried out asset-light transformation earlier in China,as the research object,analyzes the characteristics of the hotel’s asset-light operation mode by collecting and compiling the financial data of the enterprise after its asset-light transformation in 2015,and analyzes the financial performance of Jin Jiang Hotels from operating capacity,profitability,sales capacity,development capacity,debt servicing The indicators for financial performance evaluation were selected from operating capacity,profitability,sales capacity,development capacity,debt servicing capacity and R&D capacity,and the entropy value method was used to analyze the financial performance of Jin Jiang Hotels from 2015 to 2021.At the same time,the financial data of the accommodation and catering industry in which Jin Jiang Hotels is located in 2021 were screened,integrated,calculated,and compared to analyze the financial performance levels of enterprises in this industry that meet the definition of light assets,and to form a comparison with Jin Jiang Hotels.In addition,the strengths of companies with high scores in each dimensional index are analyzed and compared with the relevant data of Jin Jiang Hotels to find the problems of this hotel.We also put forward targeted and reasonable suggestions for Jin Jiang Hotels from four aspects:management of franchises,management of accounts receivable and inventory,financing channels,and corporate development.We hope that through the study of Jin Jiang Hotels,we can help the same type of hotels to learn the operating experience of asset-light operation mode and help the hotel industry to operate stably.