The headline is slightly confusing until you get the facts. According to Qianjiang Evening News the Wenzhou-based economy hotel chain 99-Inn Management. currently has more than 20 locations nationwide, reports.
There are a lot of hotels under construction, and the company, despite its name, intends to reach 100 nationwide locations by the end of 2009.
In fact, it is part of a larger network.
The overall company, Home Inns was founded in 2002, and laid down a set of standards for all its hotels. Including free in-room broadband internet access, air conditioning and water coolers in every room.
The network of this, the parent company, is extensive.
JLM Pacific Epoch reports that 99-Inn is aiming for 250 hotels by the end of 2010, 500 by the end of 2011 and 5,000 and 10,000 within the next 10 and 15 years.
99-Inn hopes to raise private funds in the latter half of 2009 or 2010 and go public, either domestically or abroad, between 2012 and 2013.