On Thursday morning, Mr. Lin arrived at the headquarters of Cathay Pacific City Hotel Management.

As the flagship hotel management company of New Era Group, Cathay Pacific City does not have its headquarters in ACN Centre, but uses its own office properties in Wan Chai.

There are only a few dozen people in the management and staff of Cathay Pacific City, and at present, foreign management accounts for one-third, and even the president has become a British Cowpert; Lu Donglai, the former general manager of Cathay Pacific City, has been transferred to the senior management of the New Era Group, which can be regarded as a high promotion.

Lin Zuhui came to his office, picked up the newspaper on the desk and read it. Whether he comes to this company or not, his men will prepare a newspaper every day.

Picking up his own financial professional newspaper "Economic Daily", there was exciting news on the front page: Yu Pinhai, the board of directors of the listed company Zhicai Consulting Management Company, was sentenced to two years in prison minus one day in prison for seven counts during his studies in Canada, including stealing, signing checks fraudulently, illegally using other people's credit cards, and possessing firearms.

NICE！

The reporters of the Economic Daily finally got the evidence in Canada and reported the news. It is conceivable that this news will make a sensation in Hong Kong.

Although Yu Pinhai has not yet acquired Ming Pao Group at this time, he is also the chairman of the board of directors of a listed company. Before the IPO of Zhicai Consulting Management Company, Yu Pinhai was required to truthfully fill in the real history, and it was obvious that he would be in trouble.

The reason why Lin Zuhui had to destroy Pinhai in advance when he had a good relationship with Jin Daxia was because Yu Pinhai looked like Jin Daxia's dead eldest son, which was an innate advantage.

He didn't allow things to happen, so he had to ask them to come forward.

After a while, Cathay Pacific City's president Corbett and vice president Li Mingtao came to Lin Zuhui's office together. As for the integration issue, Lin Zuhui is not worried, because Cathay Pacific City Hotel will soon develop overseas and there is no time for intrigue.

What's more, Cathay Pacific City may be privatized by the New Era Group in May (it is uncertain that the privatization will be successful), and the group has a greater say.

"Sit!"

Lin Zuhui arranged for the two to sit down, and at the same time took out a stack of materials from his briefcase. This information was given to Lin Zuhui by the management of Cathay Pacific City two days ago, and it is about the 'Hilton Hotel' in Manila.

Manila is the capital of the Philippines, and the Hilton Manila Hotel occupies a very large area, which is very profitable in the era of political stability and economic prosperity.

However, since February 1986, the Filipino people have successfully overthrown the poisoners and established a new government, but in addition to the huge foreign debt left by the previous government, the political situation is extremely unstable. In the mid-to-late 80s, there were six attempted mutinies. In addition to political and economic problems, the country has also suffered many natural disasters, such as the Luzon earthquake, the eruption of the Pinatubo volcano, the tsunami of the lion, etc., and the energy crisis has lasted for several years, which has brought the Philippine economy to a virtual standstill.

The political situation is extremely unstable and the economy is extremely sluggish, which has caused foreign capital to flee the Philippines one after another. In this wave of foreign capital withdrawal, Hilton Group could not hold on.

At the beginning of the year, Lin Zuhui learned from a director of the 'Grand Hotel Group' that Phils, the major shareholder of 'Acesite', the parent company of Hilton Hotels in the Philippines, wanted to sell the Hilton Hotel and withdraw from the Philippines.

Lin Zuhui immediately made a decision to pick up this leak, and arranged for Corbett and Li Mingtao to investigate and liaise.

Because he knows that as long as he sticks to it for one to three years, his current investment may only take one to two years to pay off, and the rest is his own profit. He remembers that in the Philippines, the government implemented economic reforms in the early 90s, and then the economy began to explode.

"Now, Cathay City needs to make a plan to take over the Hilton Manila through the stock market (Acesite is a Philippine listed company)!"

"However, the company only has $5 million in cash on its books. And according to our analysis, it will take about $15 million to succeed! ”

Cathay Pacific City originally had a cash flow of more than 300 million yuan, and all the debts were repaid, reducing the debt to 700 million yuan!

110 million Hong Kong dollars, buying a five-star hotel, and it is a five-star hotel with a large area, Lin Zuhui couldn't help laughing in his heart. Five-star hotels in Hong Kong, Los Angeles and New York are often more than 1 billion Hong Kong dollars!

Lin Zuhui said with a smile: "Have you heard the story of Milken on Wall Street? ”

"I've heard that he's the founder of the 'junk bond' takeover, and it's very influential! ”

Lin Zuhui nodded, it just so happened that he had also specialized in Milken's acquisition techniques.

In the 80s of this century, mergers and acquisitions were everywhere in the United States, and Milken was on Wall Street. Because in the seventies and eighties, inflation and unemployment in the United States climbed, and the credit crunch was severe, and in an instant, the high-return bonds in the portfolios of many fund companies were downgraded by bond rating agencies and reduced to 'junk bonds'. At this time, Milken saw a business opportunity, and he set up a trading department for low-grade bonds in the Drakes Investment Company, and invested in 'junk bonds', which according to his previous life was 'buying the bottom'. Subsequently, Drakes issued a large percentage of loans in the form of 'junk securities' to merge companies, that is, leveraged buyouts.

The acquisition technique pioneered by Milken has influenced a group of people, including Liu Luanxiong two years ago.

"So, I was going to make a 'high-risk financial arrangement' with Cathay City as a guarantee, but it was the Hilton Hotel that was collateralized, and I borrowed $9 million from the bank and passed the debt on to the Hilton Hotel. Taking advantage of the difference between the dollar and the yen, and the difference between Philippine interest rates and overseas interest rates, I estimate that the actual acquisition should be only $12 million. In this way, we at Cathay Pacific City only need to invest $3 million to get a five-star hotel. ”

For high-risk financial arrangements, the interest rate will rise to 12%~14% (currently 8%), but if the Hilton Hotel has an annual income of 25%, Cathay Pacific City can get a differential return of about 11%; If the Hilton hotel can grow steadily for 3~5 years, the resulting differential return will be even more considerable.

In fact, in the past life, in 1989, the evidence in the Philippines stabilized. It can be inferred that the Hilton Manila Hotel in 1989~1991 can maintain stable profit growth; By 1992, the Hilton Hotel exploded, and in a year or two it was able to recoup the cost of Cathay City and earn a five-star hotel (very cheap).

Thinkers

Colbert and Li Mingtao were very convinced of Lin Zuhui's strategy, and nodded in agreement.

Next, Lin Zuhui began to arrange for the establishment of a working group of the two to quickly take over the Manila Hilton Hotel.

At the end, Lin Zuhui said: "Move fast! The Philippines is just an opening for us to expand overseas, and my personal investment companies in Canada and the United States have already inspected good hotel projects, and Cathay Pacific City will usher in explosive development at that time. ”

Time is money, and Lin Zuhui used the investment department of Hengjin Investment in the United States to search for hotel projects and hotel management networks in the United States and Canada, which will serve as a channel for Cathay Pacific City expansion.

Coubert is not only a hotel management talent, but also very proficient in the international development of the hotel, so this time he served as the leader of the acquisition team; Lin Zuhui's personal investment company, Hengjin Investment, was the advisor to the acquisition, assisting Cathay Pacific City in the acquisition, which also happened to expand the business.

"Okay! BOSS guarantees to complete the acquisition this month, after all, we have been preparing for more than a month. Colbert said confidently.

"Feel free to report to me!"

"Okay!"

Naturally, Lin was reluctant to go to a place as chaotic as Manila, so apart from participating in 'high-risk finance' loans in Heung Kong, he could only determine his leadership position by keeping track of the progress of the project.

This year is a great opportunity for the development of the hotel industry of New Era Group, but he will not let go of the opportunity.