Yang Weimin, chief executive officer of Jinjiang Hotels, said that it will add more than 300 outlets under its budget hotel brand Jinjiang Inn over the next three years.
Of these about 100 outlets will be invested in and built or leased by the company itself with an investment of RMB3 billion. At the end of 2007, Jinjiang Hotels had a total of 280 outlets under the brand of Jinjiang Inn, 40% of which are franchised hotels; and it also had 100 four- and five-star hotels.
Yang Weimin said that the company aims to increase the number of Jinjiang Inn's outlets to 600 within two years. This year, the company will also open six or seven four- and five-star hotels. It also plans to add 2,000 new guestrooms in four- and five-star hotels per year in the future. By 2010, the number of star-grade hotels owned by the company is expected to increase to 130.