[photopress:Motel_168.jpg,full,alignright]Chinese budget hotel chain Motel 168 has received an investment from Morgan Stanley. China Securities Journal reports it is currently planning a public listing.
The report quoted China Hotel Association assistant to the president Zhang Minghou who said China currently has 800 to 1,000 economy hotels nationwide with a total of 100,000 hotel rooms. The top two budget hotel chains in China are JinJiang Inn and Home Inn, said the report.
Guangzhou and Shenzhen based budget hotel chain 7 Days Inn received a US$10 million investment from Warburg Pincus last October and plans to have over 100 hotels by the end of this year. China’s budget hotel market only accounts for 10% of the total Chinese hotel market.
Source: Pacific Epoch