BTG Homeinns is a hotel chain in China. It is a part of BTH Hotels and its headquarters are in the
Xuhui District
Xuhui District is a core urban district of Shanghai. It has a land area of and a population of 1,113,078 as of 2020. Xuhui District has 12 subdistricts and two townships.
The Xuhui District is named after its namesake, the historic area of X ...
,
Shanghai
Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...
.
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"
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"
"上海市徐汇区漕宝路124号"
History
Ctrip.com co-founders,
Neil Shen and Ji Qi co-founded the chain in 2001,
[Shen, Samuel.]
China's booming budget hotels profit from no frills
Archive
. ''Reuters
Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world.
The agency ...
''. January 16, 2008. Retrieved on February 18, 2013. and it began in 2002.
[ ]Private equity
Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...
funded the hotel chain. In October 2006 it was listed on Nasdaq
The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...
in the United States. IDG Ventures invested in the company, causing it to raise $109 million U.S. dollars
The United States dollar (symbol: $; currency code: USD) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it int ...
in its 2006 Nasdaq
The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...
listing.[
In 2007 Home Inn considered building hotels in Taiwan. 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.][ The chain acquired Motel 168 in October 2011.][
In December 2015 BTG Hotels (of the ]Beijing Tourism Group
The Beijing Tourism Group (BTG; ) is a Chinese state-owned enterprise operating in various areas of tourism, including travel agencies, dining, hotel
A hotel is an establishment that provides paid lodging on a short-term basis. Facilities ...
) announce will acquire Home Inn chain for 11 billion renminbi
The renminbi ( ; currency symbol, symbol: Yen and yuan sign, ¥; ISO 4217, ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the China, People's Republic of China. The renminbi is issued by the Peop ...
(1.7 billion U.S. dollars
The United States dollar (symbol: $; currency code: USD) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it int ...
).
In April 2016, Home Inn completed the Going Private Transaction and sold to BTG Hotels.
Operations
Home Inn is the largest budget hotel chain in China, and it was the first budget chain that was established in China. Brands include Home Inn (), Motel 168, Yitel (), and Fairyland Hotel (). Yitel is a business-oriented brand of Home Inn.[Huo, Jiazhen and Zhisheng Hong. ''Service Science in China''. ]Springer Science & Business Media
Springer Science+Business Media, commonly known as Springer, is a German multinational publishing company of books, e-books and peer-reviewed journals in science, humanities, technical and medical (STM) publishing.
Originally founded in 1842 in ...
, January 6, 2013. p
355
, 9783642344978.
References
Further reading
* Securities and Exchange Commission
The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce laws against market m ...
(United States):
**
Exhibit 99.1 Homeinns Enters into Definitive Merger Agreement
**
External links
*
{{authority control
Hospitality companies of China
Companies based in Shanghai
Hotels established in 2002
Hotel chains in China
Companies formerly listed on the Nasdaq
Chinese brands
Chinese companies established in 2002
Hospitality companies established in 2002