Home Inn

Homeinns Hotel Group
Public
Traded as NASDAQ: HMIN
Industry Hotels
Founded 2002 (2002) in Beijing, China
Headquarters 124 Caobao Road, Xuhui District, Shanghai, China
Number of locations
 2,609 (as of 12/31/2014)
Area served
 China
Key people
 Nanpeng Shen, Co-Chairman of the Board
Revenue Increase $1.0 billion USD (2014)[1]
Number of employees
 25,176 (as of 2014)[1]
Website homeinns.com/about/
Homeinns Hotel Group
Chinese 如家酒店集团
Literal meaning Like Home Hotel Group
Home Inn headquarters and an Yitel Motel
Home Inn location in Shanghai

Homeinns Co.,Ltd, doing business as Home Inns Group or Home Inns & Hotels Management Inc. (S: 如家酒店集团, T: 如家酒店集團, P: Rújiā Jiǔdiàn Jítuán; Nasdaq: HMIN) is a hotel chain in China.[2] Its headquarters are in the Xuhui District, Shanghai.[3] 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.[4]

History

Ji Qi founded the chain in 2001,[5] and the chain began in 2002.[3] Private equity funded the hotel chain.[6] In October 2006 it was listed on Nasdaq in the United States. IDG Ventures invested in the company, causing it to raise $109 million U.S. dollars in its 2006 Nasdaq listing.[5] 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 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.[5] The chain acquired Motel 168 in October 2011.[3]

Operations

Brands include Home Inn (C: 如家酒店 Rújiā Jiǔdiàn), Motel 168, Yitel (C: 和颐酒店, P: Héyí Jiǔdiàn), and Fairyland Hotel (S: 云上四季连锁酒店, T: 雲上四季連鎖酒店, P: Yúnshàng Sìjì Liánsuǒ Jiǔdiàn).

Yitel is a business-oriented brand of Home Inn.[8]

3 April 2016 Yitel Issue in Beijing Wangjing 798 area became a hot research in China's social media Weibo. A woman was violently assaulted by a strange man in the hotel elevator and during the violence, there were no security guard or hotel staff to help. This issue was suspected that the hotel was related to prostitution business and the young woman was mistaken for prostitute who had not paid protection money and hotel staff did not take action to rescue the young woman might because that they thought that the young woman had not paid protection money was being given ‘a lesson’by the man. The police department did not register for an investigation immediately after the young woman report the issue to the police. Not until the issue became a hot research in China’s social media Weibo, people in Home Inn did not give any response to the issue.[9]

References

  1. 1 2 Homeinns Hotel Group, Form 20-F, Edgar Online, April 24, 2015
  2. ↑ "Company Profile for Home Inns & Hotels Management Inc". http://www.bloomberg.com/. Retrieved 1 September 2014. External link in |work= (help)
  3. 1 2 3 "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" - Chinese address: "上海市徐汇区漕宝路124号"
  4. ↑ 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."
  5. 1 2 3 Shen, Samuel. "China's booming budget hotels profit from no frills" (Archive). Reuters. January 16, 2008. Retrieved on February 18, 2013.
  6. ↑ 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."
  7. ↑ DPA. "China’s Home Inn chain mulls building in Taiwan." China Post. October 5, 2007. Retrieved on February 18, 2013.
  8. ↑ Huo, Jiazhen and Zhisheng Hong. Service Science in China. Springer Science & Business Media, January 6, 2013. p. 355. ISBN 3642344976, 9783642344978.
  9. ↑ http://weibo.com/u/5892492312?c=spr_qdhz_bd_baidusmt_weibo_s&nick=%E5%BC%AF%E5%BC%AF_2016&is_all=1. Missing or empty |title= (help)
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