Home Inn first quarter report released: net loss of $3.1 million

By | May 14, 2013

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Home Inn (Nasdaq securities trading code: HMIN) on Thursday released its unaudited financial results for the first quarter ended March 31, 2013. Results showed that in the first-quarter, total revenue reached 1.402 billion yuan (about 225.8 million U.S. dollars), an increase of 11.7% which was in line with the company’s previous forecast of 1.385 billion yuan to 1.415 billion yuan; Company’s net loss attributable to shareholders totaled 19.4 million yuan (about 3.1 million U.S. dollars), compared to a net loss attributable to shareholders of 103.2 million yuan (16.512 million U.S. dollars) compared to the same period last year.

In the first quarter, the hotel occupancy rate achieved 83.6%, higher than the 80.7% during the same period last year, but lower than the previous quarter’s 83.8%. The good occupancy rate was mainly because the company organized promotional activities to maximize utilization during the off-peak season.

Source: 腾讯科技 (qq.com)

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