Vienna: not playing our capitalDe-Man was born in a poor mountainous area of Zhanjiang, in 1977 admitted to the university, but because of medical examinations by less than 50 yuan, no money to read, had to go home farm. In 1993, he Chuaizhuo 5,000 yuan to venture in Nike LeBron 11 Shenzhen, 3000 contracted a small hotel, and the remaining 2,000 yuan to do earthwork. Over the next six years, which completed the primitive accumulation of capital for a few million dollars. In 1999, the earthwork unsustainable, seen in 50% of the profits hotels, De-Man began to put all the focus on the hotel industry. De-Man opened the first hotel, a total of 229 rooms, each room costs 40,000 initial investment was more than 900 million, but cash in his hand only three or four million. It can rely on 30 percent of the cash investment, De-Man a little bit more than a dozen stores Nike Shoes Global complete layout. The main cash deposit for the property, air conditioning appliances, other will pay advances and other decoration. The remaining Air Jordans Women's 70% of the cost is to do the decoration, furniture, etc., which may be by supplier credit, while profits generated by other stores, while the decoration side of arrears payments provider. 'Their work has been steadfast, suppliers are willing to support us.' De-Man said. General specifications of an investment equal to 70,000 rooms, De-Man does not outsource your own construction team, to buy materials, 40,000 will be able to complete. One side is careful planning, cost savings, and create profits, continue to invest, while lending to suppliers, Vienna completed the initial investment. 'If I have to say that financing, we are the vendor financing it.' Huang said. At that time, he can not get any loan from the bank, 'the hotel do not do it, put the decoration is almost equal to the waste of money, bank loans equal to naught.' Cheap hotels compared with 100 to 200 yuan rates Vienna house prices between 200 to 300 yuan, an increase of cafes, buffets, meetings and other six service categories, although the total cost per room increased by 15 to 30 yuan, but the price increase 100 yuan, the overall profit was up 70 . Relying on the 'five-star decoration, Award consumption' business philosophy, Vienna never large sums of advertising expenditures, basically word of mouth, the occupancy rate up to 100 percent, with 1.3 million members. 'We are open to go, where these members will go with.' Huang Nike Shoes Deman said. 'Now a lot out marketing, brand planning people say sell themselves obsolete, I believe the quality, it never gets old, and I never will believe it.' 1999-2006, with an average of Nike Air Nike Air Max 2015 Men Max 2013 V Women two stores per year speed, Vienna opened 16 stores. In mid-1999 turnover of 10 million yuan, nearly 400 million yuan in 2007, net profit of 51.8 million yuan, Vienna annual growth rate of over 100%, even 200%. Huang think after ten years Nike Air Max 90 (Womens) of accumulated experience, Vienna formed a mature management system and personnel training system, now is the time to achieve economies of scale. But then a lot Women Air Jordan 6 of money needs to open dozens of stores, if you still follow their own way snowball will be very slow. Coupled with competitors such as Accor, Intercontinental Holiday Inn, Hanting so began to expand, but also as slow as before, De-Man feel certainly no way to win this war. October 2006, the budget hotel as home NASDAQ, Huang full popular irritation, seen as the home than they did three years later, when there is a listing of more than 100, but he is the others 1/4 He began to consider as home-like as the money borrowed foreign capital to accelerate their speed. Beginning he did not know how to find institutional investors. In June 2007, a financial consulting firm initiative to find De-Man, introduces SAIF funds to him. In June he saw Yan Yan SAIF president, in September SAIF put 115 million yuan on the hit book Vienna, accounting for 23% of the shares. Vienna recently France intends to introduce a fund to begin listing. Never played with capital dealings De-Man in the introduction of institutional investors, he is most worried about the gambling and institutional investors are likely to bring the decision-making barriers. Many institutional investors in order to protect their own interests, will set up a lot of gambling terms, 'If an entrepreneur who fell in, it will do a lot of stupid things, such as getting the money, do not do branding, into the gambling profits, resulting in the company only for short-term profit, ignoring the long-term development of the overall consideration, to their great disaster. 'He felt that these issues must not New Nike Air Max 2015 Women happen to them. 'My first consideration is the largest overall interests of the company, to do or to do, even the hair hair, I do not like other stupid boss, I would not do such a thing.' In cooperation with the SAIF , Huang full requirements of the other party agreed, no matter how bad their own business, not infinite dilution of equity, not more than three points, that can not exceed 26% at 23% basis. 'This is a negotiation, we agreed to do it, you do not, I have no idea.' 'I must be more than 50% of the shares, we're not here to play the capital, we really want to do one thing. I've been through a lot of Air Jordan XX9 suffering, a lot of twists and turns, very love their business, will understand a lot of common sense. 'After the introduction of investment, 2008 Vienna hotel to open 18 a year, and annually thereafter plans to open 30 to 60 new stores, two from each year home to dozens. Vienna's pole vault will also face many challenges. First high occupancy rate of 100 percent is difficult to maintain, after the large-scale expansion, the occupancy rate has dropped to 93%. Although De-Man think will be the first to ensure quality, maintain solid growth, but this camel company buildup success, if completed prior to listing the last dive, Huang full of challenges.