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The first Heyi-branded hotel, located in Shanghai, will be put into service in December 2008. Different with economy hotels, the new outlet will mainly serve medium- and high-end businessmen.
Currently, the Nasdaq-listed company has had branched into nearly 90 Chinese cities and set up more than 400 hotels across the country, establishing the largest hotel chain network in China. However, profits from economy hotels are becoming less and less due to rising costs.
Home Inn' net profits for the second quarter of 2008 slid to CNY 7.5 million, or USD 1.1 million, compared with CNY 22.7 million, or USD 3 million in April-June 2007.
From dycj.ynet.com, Page 1, Monday, October 27, 2008 info@SinoCast.Com
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