Hotel News Resource - Home Inns Hotel Industry News

Total revenues increased 66.0% year over year to RMB 1,255.7 million (US$199.4 million). Excluding Motel 168 (acquired and fully consolidated starting October 1, 2011) total revenue increased 22.7% year over year to RMB 928.4 million.

Total revenue for the third quarter of 2011 was RMB 988.0 million (US$154.9 million) representing a 12.3% year-over-year increase, exceeding the guidance range of RMB 955 million to RMB 975 million, with most of the mature hotels outside of Shanghai achieved better than expected revenue performance through moderate price increases.

Home Inns announces that by September 30, 2011 it has achieved a key growth milestone of opening over 1,000 hotels separate from the acquisition of Motel 168.

Expects Closing by the End of Third Quarter 2011

Total revenue for the second quarter was RMB 905.2 million (US$140.1 million) representing a 12.2% year-over-year increase.

Revenues Increased 11% Year over Year to $757 million; Additional 178 New Hotels Contracted or under Construction

Full Year Revenues Increased 22% Year over Year to RMB 3.17 Billion - Full Year Operating Profit Increased 120% Year over Year to RMB 530.4 Million

Hotel Chain to Open 260 to 280 Hotels in 2011

Home Inns & Hotels Management Inc. (Nasdaq: HMIN) today announced the closing of its offering of US$184 million in aggregate principal amount of 2.00% convertible senior notes due 2015.

Home Inns & Hotels Management Inc. (Nasdaq: HMIN), a hotel chain in China, announced its unaudited financial results for the first quarter ended March 31, 2010.