BTG Homeinns
| Company type | Subsidiary |
|---|---|
| Industry | Hotels |
| Founded | 2002inBeijing,China |
| Headquarters | 124 Caobao Road, Xuhui District,Shanghai,China |
Area served | China |
| Parent | Beijing Tourism Group |
| Website | bthhotels |
| Homeinns Hotel Group | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | Như gia khách sạn tập đoàn | ||||||
| Traditional Chinese | Như gia khách sạn tập đoàn | ||||||
| Literal meaning | Like Home Hotel Group | ||||||
| |||||||
BTG Homeinnsis a hotel chain inChina.[1]It is a part ofBTH Hotelsand its headquarters are in theXuhui District,Shanghai.[2][3]
History
[edit]
Ctripco-founders,Neil Shenand Ji Qi co-founded the chain in 2001,[4][5]and it began in 2002.[3]Private equityfunded the hotel chain.[6]In October 2006 it was listed onNasdaqin theUnited States.IDG Venturesinvested in the company, causing it to raise $109 millionU.S. dollarsin its 2006Nasdaqlisting.[4]
In 2007 Home Inn considered building hotels in Taiwan.[7]In October 2007 Home Inn purchased Top Star, 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 168andJin gian g Inntogether 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.[4]The chain acquired Motel 168 in October 2011.[3]
In December 2015 BTG Hotels (of theBeijing Tourism Group) announce will acquire Home Inn chain for 11 billionrenminbi(1.7 billionU.S. dollars).[8]
In April 2016, Home Inn completed the Going Private Transaction and sold to BTG Hotels.[9]
Operations
[edit]Home Inn is the largest budget hotel chain in China, and it was the first budget chain that was established in China.[10]Brands includeHome Inn(Chinese:Như gia khách sạn;pinyin:Rújiā Jiǔdiàn),Motel 168,Yitel(Cùng di khách sạn;Héyí Jiǔdiàn), andFairyland Hotel(simplified Chinese:Vân thượng bốn mùa xích khách sạn;traditional Chinese:Vân thượng bốn mùa xích khách sạn;pinyin:Yúnshàng Sìjì Liánsuǒ Jiǔdiàn). Yitel is a business-oriented brand of Home Inn.[11]
References
[edit]- ^"Company Profile for Home Inns & Hotels Management Inc".bloomberg /.Retrieved1 September2014.
- ^"Liên hệ chúng ta."BTG Hotels.Retrieved on January 25, 2018. "Địa chỉ: Thượng Hải thị từ hối khu tào bảo lộ 124 hào"
- ^abc"Investor Relations HomeArchived2015-02-22 at theWayback Machine"(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" -Chinese address:"Thượng Hải thị từ hối khu tào bảo lộ 124 hào"
- ^abcShen, Samuel. "China's booming budget hotels profit from no frills"(Archive).Reuters.January 16, 2008. Retrieved on February 18, 2013.
- ^"Home Inn Hotels looks to Nasdaq for US$80m".South China Morning Post.2006-10-06.Retrieved2023-06-19.
- ^Loesekrug-Pietri, Andre. "Importance of differentiation."China Daily.January 21, 2013. Retrieved on February 18, 2013. "The best credentials for it are that almost all entrepreneurial success stories – Baidu, Ctrip, Lining, Belle, Home Inn, just to mention a few – have been funded by private equity funds."
- ^DPA. "China’s Home Inn chain mulls building in TaiwanArchived2014-08-08 at theWayback Machine."China Post.October 5, 2007. Retrieved on February 18, 2013.
- ^"China's BTG Hotels to acquire economy hotel chain Homeinns for $1.7 bln".Reuters.2015-12-08.Retrieved2018-01-25.
- ^"Homeinns Hotel Group Announces Completion of Going Private Transaction"
- ^Tschang, Chi-Chu. "Empty Beds in China: Olympic Vacancies Haunt Beijing Hotels."Spiegel Online.August 20, 2008. Retrieved on February 18, 2013. "Most of the new hotels being added in Beijing are the projects of local investors who are copying Home Inn, China's first and largest budget hotel chain, and trying to build their own budget hotel chain that targets business travelers who want affordable yet comfortable lodging."
- ^Huo, Jiazhen and Zhisheng Hong.Service Science in China.Springer Science & Business Media,January 6, 2013. p.355.ISBN3642344976,9783642344978.
Further reading
[edit]- Securities and Exchange Commission(United States):
- "Exhibit 99.1 Homeinns Enters into Definitive Merger Agreement"
- "AGREEMENT AND PLAN OF MERGER among BTG Hotels Group (HONGKONG) Holdings Co., Limited, BTG Hotels Group (CAYMAN) Holding Co., Ltd, Homeinns Hotel Groupand, solely for the purposes of Section 6.02(e), Section 6.08, Section 6.09, Section 8.06, Section 9.09 and Section 9.10, BTG Hotels (Group) Co., Ltd. Dated as of December 6, 2015"
External links
[edit]
Media related toHome Innat Wikimedia Commons
- Historical business data for Home Inn:
- SEC filings
