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.
Currently it has something like 471 hotels in 94 different cities across China. The goal is serious expansion.
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.
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