饭店并购的财务问题及风险规避

Financial Issues and Risk Aversion of Hotel Mergers and Acquisitions

并购是现代饭店常见的一种资本运作,能有效地实现饭店的快速扩张。并购能够提高饭店的规模经济效率,降低交易费用,使饭店多元化发展。但饭店在并购中会出现并购目标饭店价值评估、并购饭店的支付方式、并购饭店的融资等一系列的财务问题。正确认识饭店并购的价值评估风险、流动性风险、融资风险和汇率风险等财务风险并进行合理规避十分重要。

Mergers and acquisitions （M＆A） are a common capital operation pattern. By M＆A, a hotel can achieve rapid expansion, improve economic efficiency of the scale, lower transaction costs and realize diversified development. However, financial issues in the M＆A must be noted, such as valuation, payment and financing of the objective hotel. It is very important to understand correctly and avoid reasonably the financial risks of M＆A such as valuation risk, liquidity risk, financing risk and exchange rate risk.