July 29，Kaiyuan Real Estate Trust announced a capital investment of 25.7 million euros (approximately 2.1.5 billion yuan) completed the acquisition of the Holiday Inn 188bet Online Sports Betting and Casino in Eindhoven, the Netherlands，This acquisition makes Kaiyuan REIT the first Hong Kong-listed real estate trust to acquire assets in European and American countries，Created another first in Hong Kong’s capital market。

The Holiday Inn Eindhoven acquired by Kaiyuan had previously been operated by the famous international 188bet Online Sports Betting and Casino brand Holiday Inn，It has a superior geographical location and convenient transportation in the European high-tech center，And has a high occupancy rate and good reputation in the local area。However, this is not the first case of Kaiyuan acquiring overseas hotels，The original Golden Tulip 188bet Online Sports Betting and Casino acquired by Kaiyuan in 2013，After changing its name to Frankfurt Kaiyuan Grand 188bet Online Sports Betting and Casino and renovating it after more than three years，Officially opened with a new look in June this year，This is the Kaiyuan 188bet Online Sports Betting and Casino brand going abroad，The first 188bet Online Sports Betting and Casino to go international。

so far，More than 200 hotels managed and signed by Kaiyuan 188bet Online Sports Betting and Casino Group，Total number of guest rooms exceeds 50,000，Distributed in 26 provinces in China、Autonomous Region、Municipality and Frankfurt, Germany。The group owns Kaiyuan Mingdu、Kaiyuan Resort、Kaiyuan 188bet Online Sports Betting and Casino、Kaiyuan Culture Theme 188bet Online Sports Betting and Casino、Five mature product brands including Kaiyuan Manju 188bet Online Sports Betting and Casino，And Kaiyuan Mingting、Kaiyuan Fangcaodi Country 188bet Online Sports Betting and Casino、Four product brands under construction including Kaiyuan RV Holiday Camp and Kaiyuan Senbo Resort。In the process of 188bet Online Sports Betting and Casino brand development，Kaiyuan 188bet Online Sports Betting and Casino Group in East China、North China、Central China、Northeast、Strategic layout has been carried out in the western region, Hainan and other regions。In addition，July this year，At the "13th China 188bet Online Sports Betting and Casino Group Development Forum" hosted by the China Tourism and Hotels Association，Kaiyuan 188bet Online Sports Betting and Casino Group was selected into the “Top 60 Chinese 188bet Online Sports Betting and Casino Groups in 2015”，And ranks first among domestic private high-star 188bet Online Sports Betting and Casino chain groups。

Overseas acquisition cases of domestic 188bet Online Sports Betting and Casino brands (part)

June 2014，Wanda with 22.Acquisition of the landmark Spanish Building in Madrid (recently sold) for 500 million yuan；

February 2015，Anbang Insurance with 19.Acquisition of Manhattan landmark New York Waldorf Astoria 188bet Online Sports Betting and Casino for US0 million；

March 2015，Jinjiang International with 14.USD 300 million acquisition of Louvre Group、Louvre 188bet Online Sports Betting and Casino Group；

March 2016，China Xintai Capital with 5.USD 71.4 billion to acquire 7 hotels in Manhattan。

The author thinks，At this stage, domestic 188bet Online Sports Betting and Casino brands are constantly investing in overseas markets，First of all, it is due to the boom in outbound tourism from China，Domestic hotels choose high-quality destinations overseas to build hotels with oriental cultural characteristics，Not only can it make Chinese guests feel friendly，It can also make foreign guests feel fresh，Form unique brand charm；Secondly，The overall status of the domestic 188bet Online Sports Betting and Casino market is sluggish，Especially the high-end 188bet Online Sports Betting and Casino market that follows the crazy pace of real estate development，Destock，Adjusting structure is a top priority，This makes investors turn their attention to overseas markets，Seeking new growth points。

Otherwise，At this stage, overseas mergers and acquisitions have gained the advantage of hard currency pricing，The pressure that the RMB will face in the future will mainly be downward，With the inclusion of the RMB into the International Monetary Fund’s currency basket，The RMB is on the road to becoming freely convertible before 2020，In the process，Currency restrictions will be gradually relaxed，China’s export growth is now slowing down，The inflow of hard currency into China decreased accordingly，Under the situation that China’s currency may weaken further in the future，Domestic 188bet Online Sports Betting and Casino brands seek to obtain revenue and profit streams denominated in hard currencies such as US dollars through overseas mergers and acquisitions。

In addition, the European economy as a whole is in a downturn affected by "Brexit"，Euro growth slows，The valuation of 188bet Online Sports Betting and Casino assets is relatively reduced，It is conducive to domestic brands to "buy the bottom" and buy 188bet Online Sports Betting and Casino brands at this stage，Become an opportunity for domestic brands to expand globally，More and more domestic brands are taking this opportunity to develop their own 188bet Online Sports Betting and Casino strategic layout，Accelerate 188bet Online Sports Betting and Casino mergers and acquisitions，Expand the scale of your industry。However, the cultural integration and product line integration faced after 188bet Online Sports Betting and Casino acquisitions will face great challenges，For example, Wanda encountered cultural differences after acquiring the Spanish Building in 2014、Policy changes、Legal risks and other factors ultimately led to the sale of the Spanish Building，From this point of view，The prospects for Chinese local brands to expand 188bet Online Sports Betting and Casino are still confusing，What are the future development prospects ，Zhihui will continue to observe。

* Author of 188bet Online Sports Betting and Casino article: Zhihong (personal WeChat: youyan18701201571)，Zhihui Travel Reporter，Welcome to break the news、Welcome to communicate！