News for the Hospitality Executive
An Economy Hotel Chain in China, Home Inns,
Named 2006 IPO of the Year
SHANGHAI, China, Jan. 17, 2007 - Home Inns & Hotels Management Inc. (Nasdaq: HMIN), a leading economy hotel chain in China, today announced that it was recently named ''2006 IPO of the Year'' by Renaissance Capital's IPO research committee. Home Inns is the first non-U.S. company to receive this award from Renaissance Capital.
Selected from a pool of the 198 companies that went public in 2006, Home Inns was chosen based on its aggressive expansion, consistent provision of affordable quality lodging under a unified brand name, strong profitability and robust occupancy rates.
''It is an honor for Home Inns to be recognized as '2006 IPO of the
year' by Renaissance Capital,'' said Mr. David Sun, Home Inns' Chief Executive
Officer. ''China's travel industry is rapidly expanding, and we
''Home Inns has impressed us with its ability to capitalize on its first mover advantage in the Chinese lodging industry,'' Renaissance Capital's President Mr. William K. Smith remarked. ''Home Inns is well positioned for phenomenal growth in a nascent market, which distinguishes it from the rest of this year's pack.''
As of September 30, 2006, the Home Inns hotel chain consisted of 78
leased-and-operated hotels and 29 franchised-and-managed hotels in operation,
with an additional 33 leased-and-operated hotels and 23
Home Inns completed its Nasdaq IPO in October 2006, receiving approximately US$72.8 million net proceeds from the offering.
About Renaissance Capital LLC
Greenwich, Connecticut-based Renaissance Capital is the leading provider
of independent research on Initial Public Offerings and newly public companies,
having analyzed over 5,000 IPOs since its inception 15
About Home Inns
Home Inns is a leading economy hotel chain in China based on the number of hotels and hotel rooms, as well as the geographic coverage of the hotel chain. Since Home Inns commenced operations in 2002, it has become one of the best-known economy hotel brands in China. Home Inns offers a consistent product and high-quality services to primarily serve the fast growing population of value-conscious individual business and leisure travelers who demand clean, comfortable and convenient lodging. Home Inns' ADSs, each of which represents two ordinary shares, are currently trading on the NASDAQ Global Market under the symbol ''HMIN.'' For more information about Home Inns, please visit http://english.homeinns.com .
Ms. Angela Li
|Also See:||Joint Venture Creates Two Membership Hotel Brands in China - Chinas Best Value Inn and Lexington Collection / August 2006|
|The World's Biggest Hotel Chains Planning Major Expansion in Asia; China Hotel Industry is the Certain Winner / HOTEL Asia Pacific / December 2003|
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