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7 Days Inn grows income on major expansion drive
By Cherry Cao |
March 9, 2012, Friday
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Online Edition
Online Edition
THE 7 Days Inn Group, one of China's leading budget hotel operators, grew revenue by 34.1 percent to 2.128 billion yuan (US$337 million) last year on the back of continuous expansion of its domestic network.
The Guangzhou-based hotelier added 376 hotels in 2011, among which 106 were opened in the last quarter of the year, it said in a statement released today.
As of December 31, 2011, the company had an operating portfolio of 944 hotels, or 94,684 guestrooms, across 141 Chinese cities, with another 234 hotels in its development pipeline, the statement said.
For this year, the New York Stock Exchange-listed company plans to open 360 new hotels and expects its yearly net profit to grow by around 30 percent, according to Zheng Nanyan, chief executive officer of 7 Days.
The Guangzhou-based hotelier added 376 hotels in 2011, among which 106 were opened in the last quarter of the year, it said in a statement released today.
As of December 31, 2011, the company had an operating portfolio of 944 hotels, or 94,684 guestrooms, across 141 Chinese cities, with another 234 hotels in its development pipeline, the statement said.
For this year, the New York Stock Exchange-listed company plans to open 360 new hotels and expects its yearly net profit to grow by around 30 percent, according to Zheng Nanyan, chief executive officer of 7 Days.
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