GreenTree Inns announced the launch of its first outlet priced at about RMB99 per night in Shanghai.
This is the first step for the company in entering the super-conomy market segment of hotels in China. GreenTree Inns plans to open ten new outlets under the same model this year.
The new outlet has more than 200 guestrooms. It is designed and built to the standards of GreenTree Inns hotel chains at the three-star level. Each guestroom is between 11 to 18 square meters with well-appointed facilities.
Besides first- and second-tier cities, GreenTree Inns also will expand this hotel product throughout inland cities around China. According to its plan, the room rates of new outlets will be priced at about RMB100 except in some first–tier cities. At the beginning of this year, GreenTree Inns set up a multiple brand development strategy. Currently, it has five large products in the Chinese market. As of the end of March 2008, the company owns more than 240 business hotels.