Key Developments: Home Inns & Hotels Management Inc (HMIN.O)
28.62USD
23 May 2013
$-0.92 (-3.11%)
$29.54
$29.18
$29.47
$28.60
241,461
282,647
$32.00
$16.32
Latest Key Developments (Source: Significant Developments)
Home Inns & Hotels Management Inc Reaffirms FY 2013 Revenue Guidance; Issues Q2 2013 Revenue Guidance Above Analysts' Estimates
Home Inns & Hotels Management Inc announced that the Company maintains its total revenues expectation for the group for fiscal 2013 to be in the range of RMB 6.600 billion to RMB 6.800 billion. For the second quarter of 2013, it expects total revenues to be in the range of RMB 1.580 billion to RMB 1.610 billion. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of CNY 1.564 billion for the second quarter of 2013. Full Article
Home Inns & Hotels Management Inc Issues FY, Q1 2013 Revenue Guidance Above Analysts' Estimates
Home Inns & Hotels Management Inc announced that it expects total revenues for fiscal 2013 to be in the range of RMB 6.600 billion (USD1.0594 billion) to RMB 6.800 billion (USD1.0915 billion). Total revenues in the first quarter of 2013 are expected to be in the range of RMB 1.385 billion (USD222.3 million) to RMB 1.415 billion (USD227.1 million). According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of USD1.0271 billion for fiscal 2013 and revenue of USD214.7 million for the first quarter of 2013. Full Article
Home Inns & Hotels Management Inc Announces New Independent Director And Co-Chairman Of Board Of Directors
Home Inns & Hotels Management Inc announced the appointment of Mr. Yi Liu as an independent director and co-chairman of the board of directors of the Company, replacing Mr. Yunxin Mei, effective on January 1, 2013. Mr. Mei will remain as a senior consultant to the Company following his retirement. Full Article
Home Inns & Hotels Management Inc Issues FY 2012 Revenue Guidance Below Analysts' Estimates
Home Inns & Hotels Management Inc announced that for fiscal 2012, it expects total revenues to be in the range of RMB 5,715 million (USD909.3 million) to RMB 5,810 million (USD924.5 million). According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.02 billion for fiscal 2012. Full Article
Home Inns & Hotels Management Inc Issues Q3 2012 Revenue Guidance Above Analysts' Estimates; Lowers FY 2012 Revenue Guidance
Home Inns & Hotels Management Inc announced that for the third quarter of 2012, it expects total revenues to be in the range of RMB 1.545 billion ($243.2 million) to RMB 1.575 billion ($248.0 million). For fiscal 2012, it expects total revenues to be in the range of RMB 5.715 billion ($899.6 million) to RMB 5.810 billion ($914.5 million). Previously guided total revenues were in the range of RMB 5.815 billion to RMB 5.910 billion. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $228.7 million for the third quarter of 2012; revenues of $871.5 million for fiscal 2012. Full Article
Home Inns & Hotels Management Inc. Announces Acquisition Of eJia Express Hotels
Home Inns & Hotels Management Inc. announced that it has completed an acquisition of 100% ownership of Anhui Youle Fashion Hotel Management Co., Ltd. and Anhui Meibang Hotel Management Co., Ltd. (collectively eJia Express) for a total of RMB59.8 million (approximately USD9.4 million) in cash. eJia Express is a regional economy hotel chain in Anhui Province with 13 leased-and-operated hotels and a total of 1,284 rooms, including nine hotels centrally located in the city of Hefei, the provincial capital. All of the 13 eJia Express hotels will be rebranded to Home Inns and this will significantly increase Home Inns' brand presence in the region. The average remaining lease term for the 13 hotels is approximately eight years. Prior to the eJia acquisition, Home Inns Group operated in Anhui Province with 18 hotels under the Home Inns brand and 14 hotels under the Motel 168 brand. Full Article
Home Inns & Hotels Management Inc. Issues Q1, FY 2012 Revenue Guidance Above Analysts' Estimates
Home Inns & Hotels Management Inc. announced that for fiscal 2012, it expects total revenues to be in the range of RMB5,815 million (USD923.9 million) to RMB5,910 million (USD939.0 million). For the first quarter of 2012, it expects total revenues to be in the range of RMB1,210 million (USD192.2 million) to RMB1,240 million (USD197.0 million). According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $185.3 million for the first quarter of 2012; revenues of $853.33 million for fiscal 2012. Full Article
Home Inns & Hotels Management Inc. Issues Q4 2011 Guidance
Home Inns & Hotels Management Inc. announced that for the fourth quarter of 2011, it expects total revenues on a comparable basis to be in the range of RMB995 million (USD156.0 million) to RMB1,015 million (USD159.1 million), representing a 25%-27% year-over-year increase without taking into account the revenue contribution by Motel 168. Home Inns will consolidate Motel 168's financial results starting October 1, 2011. Home Inns expects the revenue contribution from Motel 168 to be in the range of RMB355 million to RMB375 million for the fourth quarter of 2011. The consolidated total revenues in the fourth quarter of 2011 are expected to be in the range of RMB1,350 million (USD211.7 million) to RMB1,390 million (USD217.9 million). This forecast reflects Home Inns' current and preliminary view, which is subject to change. Full Article
Home Inns & Hotels Management Inc. Completes Acquisition Of Motel 168 International Holdings Limited
Home Inns & Hotels Management Inc. announced that it has completed its acquisition of 100% ownership interest of Motel 168 International Holdings Limited (Motel 168) today according to a definitive share purchase agreement (Share Purchase Agreement) it entered into on May 27, 2011. According to the Share Purchase Agreement, the acquisition price of USD470 million, subject to customary purchase price adjustments, consists of approximately USD305 million in cash, and approximately 8.15 million Home Inns' ordinary shares at a price equivalent to a per-ADS price of USD40.37 (each Nasdaq-traded Home Inns' ADS represents two ordinary shares). The shares are issued to two selling shareholders of Motel 168, GSS III Monroe Holdings Limited and Merrylin International Investment Limited, and are subject to a six-month lock-up period. The cash portion is funded with Home Inns' cash on hand, and a USD240 million, 4-year term loan facility provided by BNP Paribas, Chinatrust Commercial Bank, Ltd., Credit Agricole Corporate and Investment Bank, Credit Suisse AG Singapore Branch, J.P.Morgan, NATIXIS, and Shinhan Asia Limited, as Mandated Lead Arrangers, and Industrial and Commercial Bank of China (Asia) Limited as Lead Arranger. Full Article
Home Inns & Hotels Management Inc. Obtains Anti-Trust Approval For Proposed Motel 168 Acquisition And Expects Closing By End Of Third Quarter 2011
Home Inns & Hotels Management Inc. announced that it has received anti-trust approval from the Ministry of Commerce of the People's Republic of China for its proposed acquisition of Motel 168 International Holdings Limited (Motel 168), one of the economy hotel operators in China. With this development, Home Inns now expects to close the acquisition by the end of the third quarter of 2011, subject to all other closing conditions being satisfied. Home Inns announced on May 27, 2011 that it had entered into a definitive agreement to acquire 100% ownership interest in Motel 168 for a total of $470 million, consisting of approximately $305 million in cash, and 8.15 million Home Inns' ordinary shares at a price equivalent to a per-ADS price of $40.37 (each Nasdaq-traded Home Inns' ADS represents two ordinary shares) to be issued at the time of closing. The cash portion will be funded with Home Inns' cash on hand, as well as a new $250 million four-year senior secured term loan. Credit Suisse and J.P. Morgan acted as financial advisors to Home Inns and mandated lead arrangers for the new term loan. Full Article
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