Core Viewpoint - China Jinmao has sold the Ritz-Carlton Hotel in Sanya for 2.265 billion yuan, aiming for asset securitization and optimizing its balance sheet while maintaining operational ties to the hotel [1][2][3] Group 1: Sale Details - The sale was announced on December 23, with Shanghai Jinmao transferring 100% of Sanya Tourism to Sanya Luanmao for 2.265 billion yuan, which is slightly above the assessed net asset value of 2.135 billion yuan [1] - Sanya Tourism, established in March 2004, solely owns the Ritz-Carlton Hotel in Sanya, which has been operational since 2008 and features 446 rooms [1] Group 2: Financial Performance - In the first half of the year, China Jinmao's hotel operating revenue decreased by 12% year-on-year to 776 million yuan, with its contribution to total revenue dropping by 1 percentage point to 3% [2] - The net profit before tax and non-recurring items for Sanya Tourism was approximately 110 million yuan for 2023, declining to 70.46 million yuan in 2024, although it improved to 40.74 million yuan in the first quarter of this year [2] - The average daily room rate at the Ritz-Carlton fell to 2,054 yuan, but the hotel achieved an 80.5% occupancy rate, up 11.2 percentage points year-on-year, with revenue per available room increasing by 3.24% to 1,654 yuan [2] Group 3: Strategic Implications - The acquisition by Sanya Luanmao, part of a special asset-backed securities plan under CITIC Securities, allows China Jinmao to separate this hotel business from its financial statements while still benefiting from its operations [2][3] - The recent inclusion of four-star and above hotel projects in the REITs framework indicates a strategic move by China Jinmao to adapt to new industry regulations and optimize its asset management [3] - The company's chairman emphasized the importance of enhancing new growth and revitalizing existing assets to achieve a three-year transformation [4]
22.65亿，中国金茂卖掉三亚丽思卡尔顿