News and Research on Home Inns & Hotels Management, Inc. (HMIN)
Business Description
Home Inns & Hotels Management, Inc. engages in the development and operation of economy hotels in the People’s Republic of China. The company operates its hotels under Home Inn brand. As of March 31, 2007, the company's Home Inns hotel chain consisted of 145 hotels in 53 cities in China.
As of March 31, 2007, the company's Home Inns hotel chain consisted of 97 leased-and-operated hotels in operation with an additional 36 leased-and-operated hotels under development and 48 franchised-and-managed hotels in operation and an additional 12 franchised-and-managed hotels under development, covering 53 cities in China.
Home Inns hotel has 80 to 150 guest rooms. Each hotel has a standardized design, appearance, decor, color scheme, lighting scheme and set of guest amenities in each room, including a bedding package featuring mattresses meeting the standards of four-star hotels in China, free in-room broadband Internet access, a comfortable work space, air-conditioning and a supply of cold and hot drinking water.
Leased-and-Operated Hotels
For its leased-and-operated hotels, the company leases properties from real estate owners or lessors and is responsible for hotel development and customization to conform to the standards of Home Inns, as well as repairs and maintenance and operating expenses of properties over the term of the lease.
Franchised-and-Managed Hotels
For its franchised-and-managed hotels, the company franchises its Home Inn brand to franchisees who are property owners, lessors or existing hotel operators, and is responsible for managing these hotels, typically including the hiring and appointing of the general managers of these hotels.
The company also operates four leased-and-operated hotels through separate joint ventures with third parties. Home Inns Shanghai owns 75% of one joint venture and 51% of each of the other three joint ventures.
Competition
The company competes primarily with other economy hotel chains, such as Jinjiang Star, Motel 168, Super 8 and Ibis, as well as various regional and local economy hotel chains.
History
Home Inns & Hotels Management, Inc. was incorporated in 2001.
