The wealthy entrepreneur: I want to support millions of employees!.

Chapter 875 Successfully Secured a Five-Star Hotel!
The next day, Guo Xueqin reported to Su Yang that the company had paid the deposit and obtained the qualification to auction the Tiancheng International Hotel.

Long Yin also joined her in submitting a loan application to the enforcement court!

Two days later, Jufan Hotel Management Co., Ltd., a wholly-owned subsidiary of Jufan Group, won the bid for Rongcheng Tiancheng International Hotel for 550 million yuan!
Jufan Hotel Management Co., Ltd. used Tiancheng International Hotel as collateral to borrow 3.8 million yuan from Longyin, with an interest rate of 2.5%, to be repaid in ten years.

It will take about 43 million to pay back each year for ten years.

This 2.5% interest rate is quite favorable!

The main reason is that Su Yang has collateral, the company has a good reputation, stable operations, and Long Yin knows about a huge cash flow.

Even banks might not pay attention to a regular company that wants to borrow money!
As for private lending with an annualized interest rate of 20%, 30%, or even higher, calling it usury is not an exaggeration at all!
Of course, Su Yang didn't just contribute 170 million, but nearly 200 million.

The hotel being auctioned off will also incur various taxes, amounting to approximately 20 million yuan.

There are also appraisal fees and guarantee fees from the bank.

However, considering the 2.5% loan interest rate, Su Yang still chose to accept it!
For him, a loan of 3.8 million yuan with a 2.5% interest rate was not much different from lending him money for free.

With such low interest rates, he's even considering aggressively leveraging up and buying up five-star hotels in China against the trend!
After buying up ten luxury five-star hotels at a 50% or 30% discount, the price is around 500 million.

They borrowed three to four billion yuan from banks and have to repay more than 400 million yuan in bank loans every year.

If you take into account the average number of employees of each hotel, which is two or three hundred or three or four hundred, then it's only one or two hundred million a year!

It seems even more tempting...

When the loan agreement was signed, Su Yang also praised Tian Hanxiong to the skies in front of the former branch manager!
The old bank manager smiled and nodded, roughly understanding what Su Yang meant.

Tian Hanxiong also cast a grateful glance at Su Yang.

The day after Jufan Hotel acquired the property from Tiancheng International Hotel, it unsurprisingly made the news.

After all, this involves an asset transaction exceeding 500 million, it's hard to go unnoticed!
Even Jufan Holdings was mentioned, and some smaller media outlets dug up Su Yang's name, but it's not a big problem!

Su Yang's name is completely public online; anyone with even a little computer or mobile phone knowledge can find it.

As long as we don't leak his information or too many of his photos, it'll be fine!
After the news spread, Su Yang received many phone calls from friends.

Most of them were quite surprised by his move to spend 5.5 million yuan to buy a five-star hotel.

Zhang Zhiyuan, who was close to Su Yang, knew the truth best.

At the same time, they also reassessed Su Yang's strength once again!

Most of these people are local friends, but there are also quite a few from other places.

Even Xu Tianfu, who lives far away in Guangdong Province, called to ask him if he wanted to compete with him for the high-end hotel business.

Of course, that's a joke. Su Yang only owns one five-star hotel!

Of course, Su Yang didn't forget to ask his company's people to come to Tiancheng International Hotel to support his business when they came to Rongcheng.

The business of five-star hotels still relies heavily on personal connections!

The day after I took the photos of the hotel, I visited this famous five-star hotel in Fuzhou again.

This five-star hotel has had a rather unfortunate history.

It was originally owned by a local real estate company, but later, in order to pay off its debts, the real estate company handed the hotel over to one of its creditors!

The creditor acquired the hotel, operated it for a year, and then had it auctioned off by the court due to his own debt problems.

With the current economic downturn, the performance of high-end hotels is also declining.

Most companies are trying to reduce their debt as much as possible, and five-star hotels are heavy assets, so many companies are unwilling or unable to take them over. As a result, the hotel failed to sell at auction several times, and the five-star hotel, valued at 13 billion, was finally sold for 5.5 million.

Of course, this wasn't the worst five-star hotel Su Yang knew of.

In some economically underdeveloped areas, five-star hotels have even failed to sell at auction, sometimes at a discount of 30%.

The location of Tiancheng International Hotel is considered very advantageous in Fuzhou. In addition to being close to the airport, it is surrounded by local developed commercial areas. Its occupancy rate and performance are quite good among local five-star hotels!
Su Yang plans to use Tiancheng International Hotel as a base to cultivate his own hotel management talent.

Yida Hotel is indeed good, but the problem is that it always uses the Yida name.

No matter how you look at it, it doesn't seem like my own child!

So he's rather indifferent to Yida Hotel Management...

Because the previous owner of Tiancheng International Hotel had just renovated it two years ago, and the hotel had been operating stably during the auction period, Su Yang didn't need to spend too much money on renovations!

That saved us some money!
Led by Guan Shang, general manager of Tiancheng International Hotel, Su Yang, Guo Xueqin, Jiang Yuzhen, Yu Chengjun, and others were escorted into the hotel for a tour by several hotel staff and a group of management personnel.

Looking at the spacious, bright, magnificent, and extremely luxurious hotel.

And then there were the female employees and male waiters surrounding him, all beautiful, young, and dressed in standard uniforms, with dignified bearing, and some of them looking at him cautiously…

Su Yang seemed to be experiencing the joy of being a five-star hotel owner!
However, Su Yang was not a knowledgeable person; he had stayed in many five-star hotels in various parts of the country.

He'd seen even more luxurious hotels than Tiancheng International Hotel!
Seeing guests coming downstairs, Su Yang reminded them, "You all go back to your posts! General Manager Guan, and the department managers, come with me!"

"Good boss!"

The employees quickly dispersed.

Su Yang led the hotel management team into the conference room!

The management team was very cautious around Su Yang, as if they were afraid he would fire them.

"Alright!" Su Yang said first after everyone sat down. "Let me introduce myself. I am the chairman of Jufan Holdings Group. Some of you should know me!"

Many members of the management team nodded in agreement, clearly indicating that they all knew about Jufan Holdings and had also learned about the auction yesterday!

Moreover, since they are in the hotel business, they transport countless high-end clients from all over the country, so they are quite well-informed and know more about Jufan Holdings than the average person.

"Next, I will definitely be making some adjustments to the hotel's personnel!" Su Yang said calmly. "However, the adjustments shouldn't be too drastic, and I will try to minimize layoffs... I hope everyone can do their jobs well and let me see how you perform!"

Guan Shang responded very politely, "Yes, boss!"

The other members of management nodded in agreement.

If they wanted to leave, they would have left long ago when the hotel repeatedly failed to sell out.

"Okay!" Su Yang nodded. "There's a lot of foot traffic right now. Manager Guan, please arrange a suitable time to gather as many employees as possible for a staff meeting in the conference room!"

Guan Shang hesitated for a moment and asked, "Boss, is tonight okay?"

"Okay!" Su Yang nodded. "We'll try our best not to disrupt the hotel's operations!"

In the following time, Su Yang introduced Guo Xueqin, Jiang Yuzhen, Yu Chengjun, and other financial and legal personnel.

Guo Xueqin first took over the hotel's finances with her team. Su Yang would also send some people to other positions in the hotel, but he was not in a hurry.

He then had a brief chat with Guan Shang and other management members.

Collect as much information as possible about the hotel's interior!
(End of this chapter)