Source: HVS - Sept 30, 2009
Home Inns & Hotels Management Inc (Home Inns) plans to open 200 hotels, predominantly in second tier Chinese cities, in 2010. In all, Home Inns aims to own a total of 1,000 hotels by 2012. In the second quarter of 2009, Home Inns recorded approximately US$15 million in net profit while total revenue recorded around US$94 million, reflecting a 43% year-on-year growth. Home Inns has forecast that its operating revenue is likely to record approximately US$100 million in the third quarter of 2009 and full-year 2009 operating revenue is expected to increase 33% to 35% as compared to 2008.
Home Inns & Hotels Management Inc (Home Inns) plans to open 200 hotels, predominantly in second tier Chinese cities, in 2010. In all, Home Inns aims to own a total of 1,000 hotels by 2012. In the second quarter of 2009, Home Inns recorded approximately US$15 million in net profit while total revenue recorded around US$94 million, reflecting a 43% year-on-year growth. Home Inns has forecast that its operating revenue is likely to record approximately US$100 million in the third quarter of 2009 and full-year 2009 operating revenue is expected to increase 33% to 35% as compared to 2008.