Growth Plans For 7 Days Group

The Chinese economy hotel chain 7 Days Group, has announced that it plans to open no less than 240 hotels in 2011, as part of its efforts to own 1,000 hotels by the end of next year.

The company also announced the opening of the group's 500th hotel, which is located in Xi'an, the capital of Shaanxi province.

The U.S.-listed group has said that it aimed to add between 170 and 200 hotels in 2011. The total number of hotels in the chain, including those under construction, already exceeds 700.

In the second quarter and third quarters of 2010, 7 Days Group opened 53 and 62 hotels, respectively, setting new records for numbers of newly-added hotels.