Three years ago，Also in June，Wang Jianlin announced the establishment of 188bet sports betting app download Europe，At the same time, we won the Spanish Tower, a landmark building in Madrid, Spain。According to the "small goals" set by Wang Jianlin at that time，8-10 years from 2014，188bet sports betting app download will establish 188bet sports betting app download hotels in 10 major overseas cities。

The ambitious Wang Jianlin at that time was unexpected，The Spanish building he had high hopes for quickly turned into a hot potato，I can’t get rid of it completely until today；He must not have thought of it，With 188bet sports betting app download Europe in limbo，It will become increasingly difficult to achieve the "small goal" of overseas deployment。

Sold 188bet sports betting app download at a loss of over 100 million

June 2，188bet sports betting app download, owned by Wang Jianlin, issued an announcement，The company has submitted a request to the Spanish company BarakaGlobalInvest sells entire stake in Spanish Towers。At the same time，The company has canceled the share mortgage previously sold to a financial institution in China for this loan arrangement，And promises that if the sale cannot be completed before June 21，The sale shares will be re-mortgaged。

188bet sports betting app download previously issued an announcement，The Spanish Building is sold for a consideration of 2.7.2 billion euros (about 20 at the current exchange rate.8.1 billion RMB)，Comparison with 2014 Wanda Flower 2.Purchase price of 6.5 billion euros (approximately 2.2 billion yuan at the 2014 exchange rate)，This one in and one out，Wanda lost over 100 million yuan。

According to the announcement issued by 188bet sports betting app download in May，Company estimate，The sale is expected to generate proceeds of approximately 2.HK0 million，The price is based on reference、The target company will distribute reserves of approximately 3% to Wanda Europe before completion.Calculated from the difference between the unaudited carrying amount as of September 30, 2016 after HK.1 billion and the transaction costs and expenses of the disposal。The gain will be approximately 3% of the accumulated exchange losses previously recorded in the exchange reserve.Offset by HK0 million，It will result in a net loss of approximately 1% from the sale.HK0 million。

Zhitong Finance learned，The Madrid property project sold this time is 188bet sports betting app download’s first investment in Spain。2014，188bet sports betting app download announced the establishment of a Spanish project joint venture，And with 2.Acquisition of Madrid’s landmark “Tower de España” from the National Bank of Spain for 6.5 billion euros。

The Spanish Building was built in 1948，Located in the center of Madrid, Spain，It is a landmark building during the Franco dictatorship。Before 2006，There is still a luxury hotel in the building, the Crowne Plaza、Business center and several apartments，But it has been idle since then。188bet sports betting app download in 2014 with 2.Bought this Madrid landmark building for 6.5 billion euros。

188bet sports betting app download Commercial Real Estate, which was listed in Hong Kong at the time, also issued an announcement，Established a joint venture with controlling shareholder 188bet sports betting app download Hong Kong for real estate projects in mainland Europe - 188bet sports betting app download Europe，The total capital commitments of both parties are 7.5 billion yuan and 5 billion yuan respectively，60% and 40% each。The company will use internal resources、Debt financing and equity financing allocated capital commitment。

According to information released by 188bet sports betting app download in 2014，The project covers an area of ​​4655 square meters，188bet sports betting app download plans to redevelop into a 200-room luxury hotel、A mixed-use property with high-end retail space and approximately 300 residential apartments，The expected construction area is about 83228 square meters。

Demolition plan blocked, abandon Spain

However, the Madrid government does not buy 188bet sports betting app download’s account.

188bet sports betting app download thinks，The Spanish Building was built in a time when high-quality building materials were not available，Although the building has been maintained over the years，But the service life of the building itself is close to the limit，Therefore, it is proposed to completely demolish the building，Renovation plan to rebuild brick by brick。

188bet sports betting app download’s plan for that year，Madrid municipal name，“Madrid City Council’s plan does not approve the demolition of the facade of the Spanish Tower”。Then，September 9, 2015，More than 70,000 Madrid citizens signed a petition to the government，expressed firm opposition to Wang Jianlin’s plan to demolish and rebuild the Spanish Building。

188bet sports betting app download then engaged in a series of tug-of-war with the Madrid government，There are rumors that 188bet sports betting app download will withdraw from Madrid from time to time。April 2016，A leaked letter from Madrid City Hall shows，The city government finally gave in to 188bet sports betting app download Group，Agree to the latter’s demolition and reconstruction of this Madrid landmark。

Source on April 24，Garbo, the municipal official responsible for urban sustainable development in Madrid, the Spanish capital, announced on the 20th，188bet sports betting app download Group has replied to the Madrid City Government on the 19th，The letter states that it accepts the new reconstruction conditions proposed by the Madrid City Government to 188bet sports betting app download，With original materials、Shape and size request reconstruction。There is also news，The Spanish Building is still on the market。

But in May，As 188bet sports betting app download loses patience，The "destiny" of the Spanish Building seems to have begun to take a different direction。Spanish media CincoDías reports，188bet sports betting app download Group rejected the local government’s complex restoration plan，Will sell this investment before August 2.Spanish landmark building purchased for 6.5 billion euros。

July 22, 2016，188bet sports betting app download announced，Wanda European Real Estate Investment Co., Ltd. signed a non-legally binding memorandum of understanding with Spanish company Baraka，The content may involve the sale of the Spanish Building to Baraka。According to the Memorandum of Understanding，Baraka has paid 1 million euros as a deposit to Wanda。Announcement at that time，As the possible sale is still under discussion and negotiation，Still waiting for the final agreement between the two parties。

This time，Wang Jianlin has completely given up on 188bet sports betting app download。According to media reports，Wang Jianlin once said in the "Dialogue" interview program of CCTV Financial Channel，It was expected that there would be larger tourism investment projects in Spain，I have decided not to invest now。

188bet sports betting app download’s “small goals” for overseas expansion

The Spanish Tower’s drag on the development of Wanda Hotels is also reflected in the financial report。188bet sports betting app download announced its 2015 annual report on March 17 last year，Loss expanded to 2.6.2 billion yuan，Loss 1 in the previous year.7.6 billion yuan。The increase in losses was mainly due to the write-down of inventories and impairment of construction in progress for the Madrid project。

Zhitong Finance learned，188bet sports betting app download is mainly positioned in overseas assets and hotel projects within the Wanda system，Currently assets include Fuzhou Hengli City in China、Guilin Wanda Plaza Project，Overseas holding London, UK、Madrid, Spain、Complex real estate projects in Chicago, USA and Gold Coast, Australia，Overseas complex real estate projects except residential and commercial parts，All with luxury hotels。

Zhao Huanyan, chief knowledge officer of Huamei Hotel Consulting Agency, once told the media regarding the Spanish incident，188bet sports betting app download’s failure was mainly due to its acquisition of the culture of the host country、I don’t know much about the legal situation。Cultural differences、Policy changes、Legal risks are important issues that Chinese enterprises must face when “going global”。

Official website information display，By the end of 2016，188bet sports betting app download Hotels and Resorts will own more than 100 high-end hotels in China，Including business and resort hotels and self-operated brand hotels managed by more than ten famous international hotel brands。188bet sports betting app download’s self-operated international brands are Jiahua、Wenhua and Ruihua，And mid-range hotel brand Jinhua。Located on the Gold Coast、London、Los Angeles、Chicago、Sydney’s 188bet sports betting app download Vista Hotel will open at the end of 2018，Will hold and manage more than 160 hotels globally by the end of 2020。

But 188bet sports betting app download Hotel still faces profitability problems。188bet sports betting app download Business Annual Report Display，Hotel operation achieved owner profit 7 in 2015.0.7 billion yuan，22 more than in 2014.4%，Among them，The owner of a hotel opened in 2015 suffered a profit loss of 21 million yuan。The hotel’s owner profit margin is 13.51%，Decreased by 0 compared with 2014.99%。To this，188bet sports betting app download explained，The decrease in owner profit margin is mainly due to the fact that newly opened hotels are still in trial operation，Lower income。

Comments from industry insiders，188bet sports betting app download’s entry into the hotel industry was driven by real estate，At that time, multinational companies were asked to manage，The current change is to actively develop the hotel industry，Launched own brand。But the formation of independent brands takes a short time，Lack of highlights，System construction includes customer systems、Marketing systems take time。

Via Spain，Can Wang Jianlin’s overseas “small goals” be successfully achieved？Are the lessons learned in the past three years enough for 188bet sports betting app download to change its strategy。

*Source of this article: Zhitong Finance, original title: "188bet sports betting app download lost more than 100 million and sold Spanish building,The farther Wang Jianlin is from his small overseas goals?》

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