CTRIP.COM HAS 8.72% IN HOME INNS

AsiaInfo Services
01-07-2009
Ctrip.com Has 8.72% in Home Inns

BEIJING, Jan 07, 2009 (SinoCast Daily Business Beat via COMTEX) -- China's leading online travel service provider Ctrip.com International Ltd. (Nasdaq: CTRP) lately announced that it actually had had 8.72% of Home Inns & Hotels Management Inc. (Nasdaq: HMIN), China's leading budget hotel chain.

Previously, there was a saying that Ctrip.com had a 17.72% stake in Home Inns. As a matter of fact, from September 12 to December 9, 2008, Ctrip.com and its wholly owned subsidiary C Travel totally bought a 7.55% stake in Home Inns for USD 34.45 million. Then, in the following one month, Ctrip.com purchased 1.17% stake more in the budget hotel chain. Thus it altogether has had 8.72% of Home Inns by now.

The share purchase aims at a considerable return on investment, according to Ctrip.com. The company is optimistic about Home Inns' outlook. And now it is a good timing for Ctrip.com to make such an investment, said the spokesperson at Home Inns. Home Inns welcomes the investment.

Source: www.enet.com.cn (January 07, 2009)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
Internet Service Providers
travel service
budget hotel
stake
investment

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