homeinns hotel group-adr (HMIN) Key Developments
Homeinns Hotel Group Presents at 13th Annual dbAccess China Conference, Jan-12-2015
Dec 10 14
Homeinns Hotel Group Presents at 13th Annual dbAccess China Conference, Jan-12-2015 . Venue: Grand Hyatt Hotel, Beijing, China.
Home Inns & Hotels Management Inc. has Changed its Name to Homeinns Hotel Group
Nov 19 14
On November 18, 2014, Home Inns & Hotels Management Inc. changed its name to Homeinns Hotel Group.
Home Inns & Hotels Management Inc. Presents at Goldman Sachs Greater China CEO Summit 2014, Nov-17-2014
Nov 12 14
Home Inns & Hotels Management Inc. Presents at Goldman Sachs Greater China CEO Summit 2014, Nov-17-2014 . Venue: JW Marriott Hotel, Hong Kong.
Home Inns & Hotels Management Inc. Presents at Morgan Stanley 13th Annual Asia Pacific Summit, Nov-14-2014
Nov 12 14
Home Inns & Hotels Management Inc. Presents at Morgan Stanley 13th Annual Asia Pacific Summit, Nov-14-2014 . Venue: Mandarin Oriental, 5 Raffles Ave, Marina Square, Singapore 039797, Singapore.
Home Inns & Hotels Management Inc. Announces Unaudited Consolidated Financial Results for the Third Quarter Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year 2014; Expects to Open No Fewer Than 450 New Hotels in 2014
Nov 11 14
Home Inns & Hotels Management Inc. announced unaudited consolidated financial results for the third quarter ended September 30, 2014. For the quarter, the company reported net revenues of RMB 1,764.442 million against RMB 1,633.010 million a year ago. Income from operations was RMB 284.490 million against RMB 226.852 million a year ago. Income before income tax expenses and non-controlling interests was RMB 332.490 million against RMB 185.720 million a year ago. Net income attributable to ordinary shareholders was RMB 245.512 million or RMB 2.15 per diluted share against RMB 108.003 million or RMB 1.16 per diluted share a year ago. Non GAAP income from operations was RMB 304.347 million against RMB 251.1 million a year ago. Adjusted net income attributable to ordinary shareholders was RMB 224.337 million or RMB 2.23 per diluted share against RMB 180.938 million or RMB 1.85 per diluted share a year ago. Adjusted EBITDA (Non-GAAP) was RMB 514.983 million against RMB 447.632 million a year ago. Net operating cash flow for the third quarter of 2014 was RMB 476.4 million, compared to RMB 456.9 million in the same period of 2013. Capitalized expenditures for the third quarter of 2014 were RMB 121.2 million, while related cash paid for capital expenditures during the quarter was RMB 171.8 million. The year-over-year increases in total revenues from both leased-and-operated hotels and franchised-and-managed hotels in the third quarter were mainly driven by the increase in the numbers of hotels and hotel rooms in operation, partially offset by decrease in RevPAR. The year-over-year increase of 21.2% in adjusted income from operations was mainly driven by the increased mix of higher margin revenue contribution from franchised-and-managed operations; reduced opening costs, due to fewer and leased-and-operated hotels being planned for the year; and continued cost control initiatives. Diluted earnings per ADS for the third quarter were RMB 4.29. Adjusted diluted earnings per ADS for the third quarter were RMB 4.47. EBITDA (Non-GAAP) was RMB 536.158 million against RMB 374.697 million a year ago.
The company reiterates its target to open no fewer than 450 new hotels in 2014. This total is expected to reflect approximately 50 new leased-and-operated hotels, including the acquired Fairyland hotels (formerly known as Yunshang Siji). The balance is expected to consist of no fewer than 400 new franchised-and-managed hotels, highlighting continued strong franchise demand that is contributing a positive return to the business.
Given the continued soft market environment, fewer new leased-and-operated hotels planned for the year, and a lower than expected RevPAR in the Company's mature hotels' performance, Home Inns Group expects total revenues for the Group in the fourth quarter of 2014 to be in the range of RMB 1,625 million to RMB 1,675 million. Therefore, Home Inns Group expects total revenues for the Group for 2014 to be in the range of RMB 6,675 million to RMB 6,725 million, slightly lower than the initial full year expectations the Company provided at the beginning of the year. Nevertheless, the Company expects to deliver year-over-year profitability improvement in the fourth quarter of 2014.
The company expected to deliver year-over-year profitability improvement in the fourth quarter of 2014.