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Inns: Hotels
built 653 days ago
Home Inns plans to retain the Top Star brand while adding Home Inns' logo to the acquired hotels. Home Inns expects to control the operation of the Top Star hotels beginning November 1, 2007, and the closing of the acquisition is expected to occur by the end of 2007. Home Inns plans to leverage its customer network, technology platform as well as operations expertise to improve the earnings and cash flow of the Top Star hotels in the near future.
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Trans Inns Management blends their experience and knowledge of the hospitality industry with their professional management practices. They continue to evolve and develop new policies, integrated systems of operation and computerized reporting to assist in the success of the management process. Making their management system effortless and effective, Trans Inns continuously strives to develop new innovative and efficient strategies to ensure that they run a first-rate hotel management company.
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SHANGHAI, China, Oct. 22 /Xinhua-PRNewswire/ -- Home Inns & Hotels Management Inc. , announced today that it has agreed to acquire the Top Star hotel chain, which consists of 26 economy hotels with approximately 4,200 rooms across 18 cities in China. Established in 2005, Top Star is a popular economy hotel brand among domestic business and leisure travelers in China. The addition of these hotels will allow Home Inns to further expand its hotel chain to more than 320 hotels in more than 80 cities, and to leverage both Home Inns' and Top Star's customer bases.
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Home Inns expects its total revenues in the fourth quarter of 2007 to be in the range of RMB 320 million (US$42.7 million) to RMB 335 million (US$44.7 million), including revenue from the Top Star hotels beginning November 1, 2007. This forecast reflects Home Inns' current and preliminary view, which is subject to change.
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SHANGHAI, China, Oct. 1 /Xinhua-PRNewswire/ -- Home Inns & Hotels Management Inc. ("Home Inns") yesterday welcomed the addition of its 200th hotel in operation, the Urumqi Beiyuanchun Home Inn, just ahead of China's National Day and the Golden Week celebration. Home Inns further solidified its leadership position in the rapidly growing economy hotel industry in China, with the largest number of rooms available and the broadest geographic coverage.
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As of September 30, 2007, the Home Inns hotel chain consisted of 143 leased-and-operated hotels and 58 franchised-and-managed hotels in operation, with an additional 69 leased-and-operated hotels and 27 franchised-and-managed hotels under development, covering 77 cities in China. The average number of rooms per hotel in operation was 119.
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