Chinese budget hotel chain Home Inns & Hotels has been formally renamed Home Inns Hotel Group.
Home Inns has also announced that it will introduce a multiple brand strategy by launching a new brand, H Hotels, targeting mid and high-end business travelers.
As of the third quarter of 2008, Home Inns operates more than 500 hotels in over 100 cities throughout China.
The new brand H Hotels is positioned as a four star standard business hotel targeting mid and high-end business travelers.
David Sun, chief executive officer of Home Inns, said that the company plans to add 160 outlets over next year, but this is a flexible plan which could be adjusted according market requirements.