How to evaluate hotel management companies

(A) the choice of evaluation methods

According to the provisions of the asset evaluation criteria, there are three methods for enterprise value evaluation: income method, market method and asset-based method. Income method is to quantify and present the expected profitability of the overall assets of an enterprise, emphasizing the expected profitability of the overall enterprise. Market method is to evaluate the current fair market value of the appraised object with reference objects in the real market. It has the characteristics that the valuation data is directly taken from the market and the valuation results are convincing. Asset-based approach refers to the idea of determining the value of evaluation object on the basis of reasonable evaluation of various asset values and liabilities of enterprises.

The purpose of this appraisal is equity transfer. Judging from the trading situation in the domestic market, there are few cases of the same type on the base date, so it is difficult to obtain several recent similar trading cases for comparison. The conditions for adopting the market method are limited, so the market method is not adopted.

The evaluated unit has been losing money for nearly two years, but the hotel operated by the evaluated unit has been established for a long time. Recently, the lessor and the lessee have carried out large-scale renovation of the decoration and fixed assets, and the annual rental fee has risen on a large scale, reaching 65,438+0,680,000 yuan per year. The lease term is 20 12 10 10/0 to 20 1 3 1 February 31,and the biggest cost in the enterprise's operating costs is the lease fee. As the lessor is the lessee's shareholder, and the rent has changed greatly in the past three years, there is great uncertainty in the future rent forecast, so the income method is not applicable.

Asset-based approach reflects the value of enterprises from the perspective of enterprise purchase and construction, and provides a basis for management and evaluation after the realization of enterprise economic behavior. Therefore, the asset-based approach is selected for this assessment. To sum up, the asset-based approach is adopted in this appraisal.