Shenzhen-based budget hotel brand 7 Days Inn Group has initiated a nationwide expansion following a financing move with Warburg Pincus, which will invest US$20 million into the company.

7 Days Inn Group will open 10 chain hotels in succession in Beijing, Shanghai, Changsha, and Wuhan in the coming months. Zheng Nanyan, CEO of 7 Days Inn, told the media that with the opening of 7 Days Inn hotels in those cities, 7 Days Inn will formally launch its national strategy and will soon have its hotel number reach 40.

Chi Miao, a representative from Warburg Pincus, told local media that the rapid growth, excellent gross profit rate and overwhelming dominant position of 7 Days Inn are the main reason that it attracted Warburg Pincus's investment.

7 Days Inn was set up by American Venture Capital Investment and Guangdong Jinri Investment Company as a budget hotel group in Shenzhen in 2005. At present, it has 20 chain hotels and over 2000 rooms in China.