GreenTree Inn, an American-funded budget hotel chain based in China, has announced plans to increase the number of its properties to over 1,000 by the end of November 2012.
At the same time the company will expand its employee base to more than 30,000.
Xu Shuguang, the chairman of GreemTree Inn, said it is the right time for the company to develop fast, as the country's urban modernization speeds up, and as disposable personal income increases, more people want to travel.
Xu added that in the next few decades the whole industry will develop rapidly and the company will be able to benefit from this. The company will expand investments and accelerate business expansion, maintaining the stable and long-lasting growth of the group.