BTG Homeinns explained

BTG Homeinns
Type:	Subsidiary
Traded As:	NASDAQ:
Foundation:	, in Beijing, China
Hq Location:	124 Caobao Road, Xuhui District, Shanghai, China
Parent:	Beijing Tourism Group
Industry:	Hotels
Area Served:	China

Homeinns Hotel Group
Order:	st
S:	如家酒店集团
T:	如家酒店集團
L:	Like Home Hotel Group
P:	Rújiā Jiǔdiàn Jítuán

BTG Homeinns is a hotel chain in China.^[1] It is a part of BTH Hotels and its headquarters are in the Xuhui District, Shanghai.^{[2] [3]}

History

Ctrip.com co-founders, Neil Shen and Ji Qi co-founded the chain in 2001,^{[4] [5]} and it 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.^[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 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.^[4] The chain acquired Motel 168 in October 2011.^[3]

In December 2015 BTG Hotels (of the Beijing Tourism Group) announce will acquire Home Inn chain for 11 billion renminbi (1.7 billion U.S. dollars).^[8]

In April 2016, Home Inn completed the Going Private Transaction and sold to BTG Hotels.^[9]

Operations

Home Inn is the largest budget hotel chain in China, and it was the first budget chain that was established in China.^[10] Brands include Home Inn, Motel 168, Yitel, and Fairyland Hotel . Yitel is a business-oriented brand of Home Inn.^[11]

Further reading

• 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"

Notes and References

1. Web site: Company Profile for Home Inns & Hotels Management Inc. bloomberg.com/. 1 September 2014.
2. "联系我们." BTG Hotels. Retrieved on January 25, 2018. "地址：上海市徐汇区漕宝路124号"
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. Shen, Samuel. "China's booming budget hotels profit from no frills" (Archive). Reuters. January 16, 2008. Retrieved on February 18, 2013.
5. Web site: 2006-10-06 . Home Inn Hotels looks to Nasdaq for US$80m . 2023-06-19 . South China Morning Post . en.
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. Web site: China's BTG Hotels to acquire economy hotel chain Homeinns for $1.7 bln. Reuters. 2015-12-08. 2018-01-25.
9. https://www.prnewswire.com/news-releases/homeinns-hotel-group-announces-completion-of-going-private-transaction-300244681.html"Homeinns Hotel Group Announces Completion of Going Private Transaction"
10. 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."
11. Huo, Jiazhen and Zhisheng Hong. Service Science in China. Springer Science & Business Media, January 6, 2013. p. 355., 9783642344978.