Homeinns Co., Ltd, doing business as Home Inns Group or Home Inns & Hotels Management Inc. (;

Nasdaq The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

: HMIN), is a hotel chain in

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

. It is a part of BTH Hotels and its headquarters are in the

Xuhui District Xuhui District is a core urban district of Shanghai. It has a land area of and a population of 982,200 as of 2008. The Xuhui District is named after its namesake, the historic area of Xujiahui. Xujiahui was historically land owned by Ming dyna ...

Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flow ...

.Investor Relations Home
"
Archive
. Home Inn. Retrieved on February 18, 2013. "Headquarters Home Inns & Hotels Management Inc. No.124 Cao Bao Road, Xu Hui District Shanghai 200235, PRC"

"上海市徐汇区漕宝路124号" Its English slogan is "your home away from home." Home Inn is the largest budget hotel chain in China, and it was the first budget chain that was established in China.

History

Ji Qi founded the chain in 2001,Shen, Samuel.
China's booming budget hotels profit from no frills

Archive
. ''

Reuters Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was estab ...

''. January 16, 2008. Retrieved on February 18, 2013. and it began in 2002.

Private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a ty ...

funded the hotel chain. In October 2006 it was listed on

in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

IDG Ventures IDG Ventures is a global family of venture funds with approximately $3.6 billion under management. All of the funds were originally sole-source-funded by International Data Group. The first fund was created by IDG in 1996 and was located in ...

invested in the company, causing it to raise $109 million

U.S. dollars The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...

in its 2006

listing. In 2007 Home Inn considered building hotels in Taiwan. In October 2007 Home Inn purchased

Top Star ''Top Star'' () is a 2013 South Korean film directed, co-written and produced by veteran actor Park Joong-hoon, in his directorial debut. It stars Uhm Tae-woong as the manager of a top actor who dreams of someday becoming famous like his client, bu ...

, a hotel company that had been established two years prior. The transaction netted Home Inn an additional 26 hotels. As of 2008 the company had around 250 hotels, and Home Inn, Motel 168 and Jinjiang Inn together controlled 44% of China's budget hotel market. At that time the company planned to increase the number to 1,000 and to open outlet in other Asian countries. The chain acquired Motel 168 in October 2011. In December 2015 BTG Hotels (of the

Beijing Tourism Group The Beijing Tourism Group (BTG; ) is a Chinese state-owned enterprise operating in various areas of tourism, including travel agencies, dining, hotels, shopping and entertainment. It is headquartered in Beijing Municipal Administrative Center in ...

) announce will acquire Home Inn chain for 11 billion

renminbi The renminbi (; symbol: ¥; ISO code: CNY; abbreviation: RMB) is the official currency of the People's Republic of China and one of the world's most traded currencies, ranking as the fifth most traded currency in the world as of April 2022. ...

(1.7 billion

). In April 2016, Home Inn completed the Going Private Transaction and sold to BTG Hotels.

Operations

Brands include Home Inn (), Motel 168, Yitel (), and Fairyland Hotel (). Yitel is a business-oriented brand of Home Inn.Huo, Jiazhen and Zhisheng Hong. ''Service Science in China''.

Springer Science & Business Media Springer Science+Business Media, commonly known as Springer, is a German multinational publishing company of books, e-books and peer-reviewed journals in science, humanities, technical and medical (STM) publishing. Originally founded in 1842 ...

, January 6, 2013. p
355
, 9783642344978.

References

External links

* ttp://www.bthhotels.com/ Homeinns Co., Ltd/BTH Hotels {{authority control Hospitality companies of China Companies based in Shanghai Hotels established in 2002 Hotel chains in China Companies formerly listed on the Nasdaq Chinese brands Chinese companies established in 2002 Hospitality companies established in 2002

History

Operations

See also

References

Further reading

External links