Consumer China

Home Inns & Hotels Management (HMIN:Nasdaq)

  • Published 10 Dec 2009

The budget hotel operator is ramping up expansion across China following strong performance at its hotels in lower tier cities this year.

Recent financials:The budget hotel chain recorded third quarter net income of Rmb 86.7m ($12.7m, €8.58m, £7.8m), up 194% year on year, on revenues of Rmb 727.4m in Q3, up 37.9% during the period – exceeding the high end of its guidance of Rmb 705m. Its occupancy rate rose to 97% in Q3, up from 92.4% in Q209, and compared with 85.9% in the same period in 2008.

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