188bet Asset Management as the owner、An important means for managers to increase profits，Always attracting attention。Currently，The 188bet industry has paid more and more attention to the appreciation of assets、Preservation，But the owner、The manager’s understanding and application of 188bet asset management is not satisfactory。March 30，2017 Asia 188bet Forum Annual Conference，From Greenland International 188bet Management Group、ONYX 188bet Group、Shimao Hotels and Resorts、Four executives of Bangtailai International 188bet Group express their opinions。

How does asset management reflect in the daily operations of the 188bet

Through effective management，Hotels can allow owners to maintain the value of their investment assets and increase their value in daily operations，In the opinion of Li Ruizhong, executive deputy general manager of Greenland International 188bet Management Group,This is how 188bet asset management performs。The 188bet owner and management may have differences in details，But effective asset management must be based on the mutual consent of both parties。Assets protected，And produce value under effective utilization，It is the ultimate goal that investors hope to achieve。

Li Zhicai, Vice President of North Asia Region of ONYX 188bet Group pointed out，Asset management is still in the exploratory stage in China，This area has not been truly developed yet。Many hotels are doing asset management，It doesn’t involve much other than cash flow。And complete asset management，Should be covered loan、Leverage and other financial investment links。From an asset management perspective，Operation is more often just a method，Can make 188bet assets more efficient。Li Zhicai thinks，In the past, domestic hotels were built recklessly and recklessly，It is for development benefits，Now I am thinking twice before I act。

Tang Ming, general manager of Shimao Hotels and Resorts, thinks，188bet asset management is divided into two parts。

1. Assets.Assets should have continuity。If an asset is irrational when it comes to investment，No matter how you manage it later, it will be difficult to exit successfully。Due to irrational investment，Many real estate companies in China are going through labor pains。More often，Investing in a 188bet is to generate a premium for the entire property，Hotels exist as added value to real estate。This type of 188bet usually fully complies with government requirements，Invest original investment according to international five-star brand standards，But what is the actual location of the 188bet，Whether the assets can support it is still open to question。Even if the business of this type of 188bet is good，When calculating return on investment，Assets will definitely be undervalued。

For this situation，Tang Ming introduced，Shimao Group conducted reflection and improvement two years ago，Worth for reference。The group gives the 188bet management company “veto power”。Previously，When investing in hotels, they usually only follow the standards and wishes of international management companies，Not really doing calculations。After improvement，When the regional real estate company takes the land，Build a 188bet if required，The 188bet management company will first do market research，And tell the regional company the type of 188bet and reasonable investment amount that should be invested in and constructed based on the research results。If a real estate regional company wishes to increase investment，The extra investment will not be included in the 188bet assessment，Included into the premium and profit portion of real estate，To ensure that the 188bet’s price is reasonable when exiting。

2. 188bet.How to manage a 188bet to preserve or increase its value?Once upon a time，Owner representatives are more concerned about short-term capital management，Such as occupancy rate、Average house price, etc.。And the future，The owners are more considering how to withdraw from the capital market。To this，Tang Ming said，Shimao Group has divided the 188bet into continued investments，Long-term holding;Partial investment，Phase-holding;Do not invest，Provide three types of assets。Including renovations to the 188bet、All investments, including renovations, are subject to return on investment calculations。For example，The 188bet needs renovation，All investments are required to be repaid within two and a half years。

Wang Haiming, Vice President of Bangtailai International 188bet Group said，Asset management cannot be regarded as simple 188bet operation。From the owner’s perspective，Hotels are just one form of asset management。How to increase asset value through 188bet operations，It requires project planning。It is not about maximizing 188bet benefits through asset management，But the opposite，The property should have a better reputation through 188bet operations，To achieve the purpose of asset appreciation and preservation。Also，Wang Haiming pointed out，Currently，For young 188bet managers，The owner plays more of an educational role。188bet management values ​​occupancy rate、Average house price，The owner pays more attention to the cash flow the 188bet can provide，How about property brand management。Wang Haiming suggests that young hoteliers learn to look at asset management from the perspective of owners，Look further，In this way, the 188bet’s revenue will be greater。

How to reasonably set 188bet investment return target

Li Ruizhong pointed out，Return on investment is incomplete if it only looks at the daily operations of the 188bet。in the country，Everyone knows，Because "flour is more expensive than bread"，The price of land far exceeds the later investment，The return on investment of most hotels is relatively low。This leads to the securitization of domestic assets abroad，Low rate of return。When calculating 188bet return on investment，The daily operation part plus the asset processing part is more complete。

Also，Li Ruizhong believes that there are several points worth considering in the calculation of return on investment。First，The return on investment is calculated based on local housing prices，Still calculated after adding the premium?Many real estate companies will add a premium。Second，The payback period is 10 years、15 years or 20 years?Most companies use 10 years to calculate，But it should be 20 years。If exit assets are not calculated，The rate of return cannot be calculated。A more reasonable method，The return period is set based on the base，Includes industry rate of return、Market rate of return、Brand return rate、Product return rate。If the rate of return is low，You should consider whether the cash flow is healthy。When developing 188bet ROI indicators，Returns during 188bet operation must be considered comprehensively、Asset value and overall market indicators at exit。

Li Zhicai thinks，Hotels are also traditional real estate，Need to do risk specifications，The rate of return can only be calculated after specification。He suggested，Determine ROI indicators through operational risks。The more difficult it is to operate，The higher the risk，The rate of return is also higher。The 188bet is high risk，Because there are many people，The requirements are more stringent when borrowing from banks。Cash flow is part of valuing assets，But many times，There is a huge difference between mature markets and immature markets。

Now，Because "flour is more expensive than bread"，The owner is betting that “bread will be much more expensive than flour” in five years’ time。But due to many 188bet companies、Developers’ understanding and investment vary，This is difficult to do with legacy projects。When 188bet is trading，The buyer comes here for investment and profit。Currently，The domestic 188bet market is in the transaction stage，Many hotels quit in "pain"，This is related to the irrationality of real estate developers when investing。In mature markets，188bet land prices are often lower，High risk。In China, both commercial housing and residential land prices are the same，So I’m still gambling。

In Tang Ming’s opinion，Reasonable ROI target，It’s the molecule、The denominators are all reasonable。The denominator is the invested assets。On minimizing the denominator，You should invest what you should invest，Don’t spend a penny on investment that shouldn’t be made。In the past, hotels often spent money in vain，Ineffective arrangement of space that can generate income。Also，Invest heavily in imported equipment。Today，Many domestic brands have surpassed international brands in quality，This also brings convenience to the owners。If the owner’s investment is reasonable，The denominator of the investment target percentage is reasonable。The numerator lies in how the 188bet management team can increase profits。How to set the numerator，The 188bet management company and the owner will make a budget every year，Which one is more reasonable，Tang Ming thinks，The key lies in benchmarking the market。If the 188bet growth rate is higher than the industry average growth，It’s just good，Regardless of whether the goal is completed or not;Opposite，Even if the budget target is achieved，But lower than the industry average，It’s just not done well。

Wang Haiming thinks，Asset 188bet operations must take a long-term perspective，See the entire project。If you lose 1 million here，You can make 100 million there，Also good asset 188bet。When doing asset operations, you must look at cash flow，Look at 188bet capabilities，Look at the entire asset disk。As for small companies，Wang Haiming believes that we should not consider too much asset 188bet issues。

Li Zhicai agrees with this，Many times，It is difficult to balance 188bet operations and asset management。Many hotels only focus on cash flow。When the company goes public，When asset isolation is required，Many owners do not consider the exit mechanism in advance，Results in many difficulties such as taxation。So cash flow is not everything。

How do the owners and 188bet managers deal with each other?

Many people think that there are many conflicts between 188bet owners and managers，Actually, it’s a misunderstanding。Li Ruizhong pointed out，In most hotels，The owner and management have a good relationship，The problem is not as serious as imagined。

There are two key points in the process of getting along with each other。The first is "respect"。Respect each other，Subject to 188bet contract，Clearly distinguish rights and responsibilities。The second is "trust"。Trust is the basis for establishing a good relationship between both parties。The current situation is，The 188bet party and the owner’s leaders signed the 188bet contract with full trust，But each executor has his or her own ideas，Causing problems when the contract is implemented。Li Ruizhong advocates mutual respect for everyone，Adhering to transparency、Execution of the contract based on the principle of mutual understanding。The owner should first fully and reasonably authorize the 188bet party，The 188bet should also ensure the owner’s right to know、Supervision rights、Approval authority for major matters, etc.。If the 188bet party decides first and then pays attention when executing the contract，Post owner rights，It will cause a lot of misunderstandings。In transparency、In fairness，Communicate well，It is better to put rights first。

Proposed by Li Zhicai，When the 188bet management communicates with the owner，Due to different budget versions，Or a quarrel occurs when a major accident occurs and the budget is not up to standard，Invalid communication。The correct communication method should let the owner understand what happened，Understand the reasons behind the 188bet’s major decisions，Provide corresponding data。This way，Even if the owner is not happy，Also try to understand and recognize the efforts of the management。

Tang Ming added，Large domestic real estate companies，Generally, we sign contracts with many international brand 188bet management companies。The job of multi-brand owners is to take advantage of the platform，Help management make horizontal comparison，Promote mutual learning and sharing between 188bet brands，Improve management level，Finally a win-win situation。

Wang Haiming proposed，There is still a problem in the relationship between the 188bet management and the owner，If the owner uses the 188bet as a bank mortgage，The annual interest will reach 20-30 million，If you want to use 188bet GUP to repay interest，The difficulty is relatively high。

*Source: Maidian.com, author: Yu Yujie, original title "How to use asset management to maximize 188bet revenue?》.