BTG Hotels, the new parent company of Homeinns, reported 66.73% decline in net income for the first half of 2016.
BTG Hotels has named Mr. David Sun as general manager and appointed six assistant general managers to form a new leadership team.
The average room rate of Home Inn in the first half of this year was RMB 160.72 per night; the average occupancy rate reached 83.2% and RePAR was RMB 133.76, according to the interim financial results released on August 30.
Jin Jiang Hotels reported average room rate of RMB 183.80 and average occupancy rate of 74.09% in H1 2016, according to the financial results released on August 29.
LN Holdings planned to splurge RMB 3.437 billion to acquire 90.45% shares of GuangZhiLv, 100% stake in both Garden Hotel and China Hotel.
China Lodging Group is optimistic that the key performance metrics would continue to show upward movement buoyed by quality of the product and a diverse brand mix.
Occupancy rate was 85.2% in Q2 2016, compared with 85.8% in Q2 2015. The slight decrease was due to lower occupancy in lower-tier cities.
Zhejiang Future Hospitality Network Technology Limited, co-founded by Alitrip, BTG Hotels and Shiji Information in late March, was inaugurated on August 10 in Hangzhou, China.
