SHANGHAI, Jan. 7, 2011 /(Hospitality Business News) -- Home Inns & Hotels Management Inc. (Nasdaq: HMIN), a leading economy hotel chain in China, today announced plans to open a total of 260 to 280 new hotels in 2011, of which 100 to 110 will be leased-and-operated hotels and 160 to 170 will be franchised-and-managed hotels. In addition, as previously announced, Home Inns has set plans to enter into the midscale hotel segment in China with 3 to 4 new hotels in 2011 under a second brand, Yitel.
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Showing posts with label Home Inns. Show all posts
Showing posts with label Home Inns. Show all posts
Sunday, January 9, 2011
Wednesday, November 10, 2010
Home Inns Reports Third Quarter 2010 Financial Results
SHANGHAI, Nov. 10, 2010 /PRNewswire via COMTEX/ -- Home Inns & Hotels Management Inc. /quotes/comstock/15*!hmin/quotes/nls/hmin (HMIN 46.01, +0.06, +0.13%) , a leading economy hotel chain in China, today announced its unaudited financial results for the quarter ended September 30, 2010.
Third Quarter 2010 Financial Highlights Total revenues for the third quarter increased 20.9% year over year to RMB 879.5 million (US$131.5 million), within the guidance range of RMB 875 million to RMB 895 million.
Net income attributable to Home Inns' shareholders for the quarter was RMB 144.6 million (US$21.6 million), including share-based compensation expenses of RMB 14.2 million (US$2.1 million) and foreign exchange loss of RMB 1.7 million (US$0.3 million). This compared to a net income attributable to Home Inns' shareholders of RMB 86.7 million in the third quarter of 2009, which included share-based compensation expenses of RMB 7.8 million and gain on buy-back of convertible bonds of RMB 4.3 million.
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Monday, November 9, 2009
Home Inns Reports Third Quarter of 2009 Financial Results
Third Quarter 2009 Financial Highlights
-- Total revenues for the quarter increased 37.9% year-over-year to RMB
727.4 million (US$ 106.6 million), exceeding guidance of RMB 685
million to RMB 705 million.
-- Net income attributable to shareholders for the quarter was RMB 86.7
million (US$ 12.7 million), including gain on buy-back of convertible
bonds of RMB 4.3 million (US$ 0.6 million), and share-based
compensation expenses of RMB 7.8 million (US$ 1.1 million). This
compares to a net income attributable to shareholders of RMB 29.5
million (US$ 4.3 million) in the third quarter of 2008, which included
share based compensation of RMB 6.6 million (US$ 1.0 million) and
foreign exchange loss of RMB 2.4 million (US$ 0.3 million).
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-- Total revenues for the quarter increased 37.9% year-over-year to RMB
727.4 million (US$ 106.6 million), exceeding guidance of RMB 685
million to RMB 705 million.
-- Net income attributable to shareholders for the quarter was RMB 86.7
million (US$ 12.7 million), including gain on buy-back of convertible
bonds of RMB 4.3 million (US$ 0.6 million), and share-based
compensation expenses of RMB 7.8 million (US$ 1.1 million). This
compares to a net income attributable to shareholders of RMB 29.5
million (US$ 4.3 million) in the third quarter of 2008, which included
share based compensation of RMB 6.6 million (US$ 1.0 million) and
foreign exchange loss of RMB 2.4 million (US$ 0.3 million).
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Tuesday, September 29, 2009
Home Inns to open 200 new hotels in 2010
Home Inns & Hotels Management Inc, one of the largest budget hotel brands in China, plans to open 200 hotels next year, mainly in second-tier Chinese cities, said Home Inns' CEO David Sun at the Shanghai International Franchise Exhibition, sources reported.
Home Inn aims to own a total of 1,000 hotels in three years as China's budget hotel market still has great potential for development, according to Sun.
The Chinese hotelier predicted earlier its operating revenue for the third quarter of this year would reach between RMB 685 million and RMB 705 million. The operating revenue for the whole year is estimated to grow by 33% to 35% from that of 2008.
Home Inns recorded RMB 100.4 million of net profit for the second quarter of this year. Its total revenues grew 43.3% year on year to RMB 642.1 million during the period.
Home Inn aims to own a total of 1,000 hotels in three years as China's budget hotel market still has great potential for development, according to Sun.
The Chinese hotelier predicted earlier its operating revenue for the third quarter of this year would reach between RMB 685 million and RMB 705 million. The operating revenue for the whole year is estimated to grow by 33% to 35% from that of 2008.
Home Inns recorded RMB 100.4 million of net profit for the second quarter of this year. Its total revenues grew 43.3% year on year to RMB 642.1 million during the period.
Tuesday, August 18, 2009
Making Money In China's Economy Hotels
SHANGHAI -- After turning itself into one of the world's largest economy hotel chains in the seven years, Home Inns & Hotels Management of Shanghai is gearing up for a new feat: It wants to become one of the most successful franchisers in this economically booming country, too.
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http://www.forbes.com/2009/08/18/home-inns-shanghai-markets-equities-china.html?partner=yahootix
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http://www.forbes.com/2009/08/18/home-inns-shanghai-markets-equities-china.html?partner=yahootix
Thursday, August 6, 2009
Home Inns Reports Second Quarter of 2009 Financial Results
Second Quarter 2009 Financial Highlights
-- Total revenues for the quarter increased 43.3% year-over-year to RMB 642.1 million (US$ 94.0 million).
-- Net income attributable to shareholders for the quarter was RMB 100.4 million (US$ 14.7 million), including gain on buy-back of its own convertible bonds of RMB 46.5 million (US$ 6.8 million), share-based compensation expenses of RMB 6.4 million (US$ 0.9 million), and foreign exchange loss of RMB 0.3 million (US$ 0.04 million). This compares to a net income attributable to shareholders of RMB 7.5 million in the second quarter of 2008, which included share based compensation of RMB 5.4 million (US$ 0.8 million) and foreign exchange loss of RMB 13.7 million (US$ 2.0 million).
-- Income from operations for the quarter was RMB 67.7 million US$ 9.9 million), compared to income from operations of RMB 31.3 million (US$4.6 million) in the same period of 2008. Income from operations excluding share-based compensation expenses (non-GAAP) was RMB 74.1 million (US$ 10.9 million) for the quarter, compared to RMB 36.7 million (US$ 5.4 million) in the same period of 2008, representing an increase of 102% year-over-year.
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http://english.homeinns.com/phoenix.zhtml?c=203641&p=irol-newsArticle&ID=1317402&highlight=
-- Total revenues for the quarter increased 43.3% year-over-year to RMB 642.1 million (US$ 94.0 million).
-- Net income attributable to shareholders for the quarter was RMB 100.4 million (US$ 14.7 million), including gain on buy-back of its own convertible bonds of RMB 46.5 million (US$ 6.8 million), share-based compensation expenses of RMB 6.4 million (US$ 0.9 million), and foreign exchange loss of RMB 0.3 million (US$ 0.04 million). This compares to a net income attributable to shareholders of RMB 7.5 million in the second quarter of 2008, which included share based compensation of RMB 5.4 million (US$ 0.8 million) and foreign exchange loss of RMB 13.7 million (US$ 2.0 million).
-- Income from operations for the quarter was RMB 67.7 million US$ 9.9 million), compared to income from operations of RMB 31.3 million (US$4.6 million) in the same period of 2008. Income from operations excluding share-based compensation expenses (non-GAAP) was RMB 74.1 million (US$ 10.9 million) for the quarter, compared to RMB 36.7 million (US$ 5.4 million) in the same period of 2008, representing an increase of 102% year-over-year.
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http://english.homeinns.com/phoenix.zhtml?c=203641&p=irol-newsArticle&ID=1317402&highlight=
Friday, May 8, 2009
Home Inns Reports First Quarter of 2009 Financial Results
SHANGHAI, May 7, 2009 /PRNewswire-Asia via COMTEX/ -- Home Inns & Hotels Management Inc. (Nasdaq: HMIN), a leading economy hotel chain in China, today announced its unaudited financial results for the first quarter ended March 31, 2009. First Quarter 2009 Financial Highlights
-- Total revenues for the quarter increased 49.1% year-over-year to RMB
532.2 million (US$ 77.9 million).
-- Net income attributable to shareholders for the quarter was RMB 0.5
million (US$ 0.07 million), including share-based compensation expenses
of RMB 8.1 million (US$ 1.2 million), gain on buy-back of its own
convertible bonds of RMB 16.4 million (US$ 2.4 million), and RMB 0.04
million (US$ 0.01 million) foreign exchange gain. This compares to a
net loss attributable to shareholders of RMB 50.3 million in the first
quarter of 2008, which included share based compensation of RMB 4.0
million (US$ 0.6 million) and foreign exchange losses of RMB 50.0
million (US$ 7.1 million).
-- Loss from operations was RMB 17.1 million (US$ 2.5 million) for the
quarter. Loss from operations excluding share-based compensation
expenses (non-GAAP) was RMB 9.0 million (US$ 1.3 million) for the
quarter. This compares with a loss from operations of RMB 7.8 million
(US$ 1.1 million) and a loss excluding share-based compensation
expenses (non-GAAP) of RMB 3.8 million (US$ 0.5 million) in the same
period of 2008. Higher depreciation and amortization costs to revenue
ratio had a negative impact on this year's figure.
-- EBITDA (non-GAAP) was RMB 68.8 million (US$ 10.1 million). Excluding
foreign exchange gain, share-based compensation expenses, and gain on
buy-back of convertible bonds, adjusted EBITDA (non-GAAP) was RMB 60.4
million (US$ 8.8 million), an increase of 49.9% year-over-year, as
EBITDA was not impacted by the depreciation and amortization costs to
revenue ratio as in the case for loss from operations.
-- Diluted loss per ADS was RMB 0.39 (US$ 0.06). Adjusted diluted loss per
ADS (Non-GAAP) was RMB 0.22 (US$ 0.03). As used in this press release,
adjusted basic and diluted earnings per ADS (non-GAAP) both exclude
foreign exchange gain, share-based compensation expenses and gain on
buy-back of convertible bonds. Please refer to "Reconciliations of GAAP
and Non-GAAP Results" at the end of this press release.
-- Total revenues for the quarter increased 49.1% year-over-year to RMB
532.2 million (US$ 77.9 million).
-- Net income attributable to shareholders for the quarter was RMB 0.5
million (US$ 0.07 million), including share-based compensation expenses
of RMB 8.1 million (US$ 1.2 million), gain on buy-back of its own
convertible bonds of RMB 16.4 million (US$ 2.4 million), and RMB 0.04
million (US$ 0.01 million) foreign exchange gain. This compares to a
net loss attributable to shareholders of RMB 50.3 million in the first
quarter of 2008, which included share based compensation of RMB 4.0
million (US$ 0.6 million) and foreign exchange losses of RMB 50.0
million (US$ 7.1 million).
-- Loss from operations was RMB 17.1 million (US$ 2.5 million) for the
quarter. Loss from operations excluding share-based compensation
expenses (non-GAAP) was RMB 9.0 million (US$ 1.3 million) for the
quarter. This compares with a loss from operations of RMB 7.8 million
(US$ 1.1 million) and a loss excluding share-based compensation
expenses (non-GAAP) of RMB 3.8 million (US$ 0.5 million) in the same
period of 2008. Higher depreciation and amortization costs to revenue
ratio had a negative impact on this year's figure.
-- EBITDA (non-GAAP) was RMB 68.8 million (US$ 10.1 million). Excluding
foreign exchange gain, share-based compensation expenses, and gain on
buy-back of convertible bonds, adjusted EBITDA (non-GAAP) was RMB 60.4
million (US$ 8.8 million), an increase of 49.9% year-over-year, as
EBITDA was not impacted by the depreciation and amortization costs to
revenue ratio as in the case for loss from operations.
-- Diluted loss per ADS was RMB 0.39 (US$ 0.06). Adjusted diluted loss per
ADS (Non-GAAP) was RMB 0.22 (US$ 0.03). As used in this press release,
adjusted basic and diluted earnings per ADS (non-GAAP) both exclude
foreign exchange gain, share-based compensation expenses and gain on
buy-back of convertible bonds. Please refer to "Reconciliations of GAAP
and Non-GAAP Results" at the end of this press release.
