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China?s Homeinns group acquired

Profile Photo By: Steve Shellum
December 10, 2015

China?s Homeinns group acquired

BTG Hotels GroupChina?s BTG Hotels Group said it will acquire domestic rival Homeinns Hotel Group for around 11 billion yuan (US$1.7 billion), saying that the economy hotel chain will round out its portfolio of brands.
China?s hotel industry is consolidating amid fierce competition and a slowing economy. Homeinns, which owns 2,787 outlets under five brands, posted a 57 percent drop in net profit in the first nine months of the year.

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