Home Inns Shows Chinese Budget Hotels Have Solid Growth

Chinese budget hotel chain Home Inns & Hotels announced its unaudited financial results for the quarter ended June 30th, 2008 and says total revenues for the quarter increased 93.0% year-over-year to CNY448.1 million, including revenues of CNY38.4 million from its Top Star hotel chain which they acquired last year.

Rates At Beijing Star-grade Hotels Decrease By 6%

Xiong Yumei, vice director of Beijing Tourism Bureau, said in a press conference held in the Beijing International Media Center that the booking volume of star-grade hotels in Beijing increased by 1% but rates went down six percentage points from the end of May 2008.