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Home Inns

Home Inns is a Shanghai-based economy hotel chain with 470 hotels in operation. Their hotels cover 98 cities in mainland China.

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Home Inns reports profitable last quarter

2009-03-10 by Proactive Investors Beijing bureau

Shanghai-based economy hotel company Home Inns & Hotels Management (NASDAQ:HMIN) today revealed a net profit of RMB114.6m in the fourth quarter of 2008, up from a net loss of RMB15.2m a year earlier.

Total company revenue rose 64.6 percent year-on-year, reaching RMB539.2m, although revenue per available room was RMB141, down from RMB155 for the previous quarter. Its hotel occupancy rate was 84.1 percent, declining from 88.3 percent a year ago and 85.9 percent in the previous quarter. Diluted earnings per share stood at RMB0.32.

Home Inns opened 57 hotels in the last three months of 2008. By year-end, the company had 471 hotels in operation and 82 in construction.