Home Inns & Hotels, one of the biggest budget hotel chains in China, has posted RMB100.4 million in net profit for the second quarter 2009.
A splendidly positive sign was that total revenue grew 43.3% year-on-year to RMB642.1 million.
Home Inns opened 25 new hotels in the second quarter, including 15 leased-and-operated types and 10 franchised-and-managed. (And, yes, there is a subtle difference which applies very clearly to the profits they produce.)
Trading Markets reported that Home Inns predicted that its total revenues for the third quarter will be between RMB685 million and RMB705 million.
If this happens, the total revenues in 2009 will have grown by 33% to 35%, compared with the original estimates of 28% to 33%.
Home Inns has 547 hotels in 107 Chinese cities.