Faster growth
By Cherry Cao |
January 11, 2011, Tuesday
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Print Edition
Print Edition
HOME Inns and Hotels Management Inc, China's largest budget hotel chain operator, said over the weekend it plans to expand its presence across the country at a quicker pace this year and formally tap the mid-to-high-class market.
The Nasdaq-listed hotelier, which has 818 hotels under operation as of December, will open between 260 and 280 new hotels in 2011. Of these, between 100 and 110 hotels will be directly operated by Home Inns, and the rest will be franchised properties.
Meanwhile, Home Inns said it will enter the country's mid-to-high-class market from this year. Three to four new hotels - mainly targeting business travelers under the Yitel brand - will be opened by the end of this year, it said.
The Nasdaq-listed hotelier, which has 818 hotels under operation as of December, will open between 260 and 280 new hotels in 2011. Of these, between 100 and 110 hotels will be directly operated by Home Inns, and the rest will be franchised properties.
Meanwhile, Home Inns said it will enter the country's mid-to-high-class market from this year. Three to four new hotels - mainly targeting business travelers under the Yitel brand - will be opened by the end of this year, it said.
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