7 Days Group Holdings Limited (NYSE: SVN), operating as 7 Days Inn (Chinese: 7???; pinyin: Q?ti?n Ji?diàn; Jyutping: Cat1 tin1 zau2 dim3), is a Chinese budget hotel chain. It was established in 2005. It has its headquarters in the Creative Industry Zone in Haizhu District, Guangzhou.
Video 7 Days Inn
History
7 Days Inn was established in 2005. Guangzhou was the location of the company's founding.
In 2006, Warburg Pincus invested US$10 million. In 2007, Merrill Lynch, Deutsche Bank, and Warburg Pincus further invested a combined total of US$95 million. In 2008, Actis Capital led a US$65 million investment in 7 Days Inn, in which Warburg Pincus again participated. Despite losses amounting to ¥209.9 million (US$30.8 million) in 2008 and ¥9.3 million (US$1.4 million) in the first three quarters of 2009, it listed on the New York Stock Exchange in September 2009, issuing 10.1 million American Depositary Shares (representing 20.6% of the company) at US$11/share, raising a total of $111.1 million. CEO Zhang retained a 13.4% stake. 7 Days Inns' failure to turn a profit up to that point meant they were unable to make an offering of A shares in China.
In 2013 Plateno Hotels Group bought 7 Days Inn for US$688 million, took the company private, and made it into Plateno's wholly owned subsidiary; this meant 7 Days Inn was no longer listed on the New York Stock Exchange.
In 2015 Jinjiang Hotels bought 81% of Keystone Lodging, now the parent company of 7 Days Inn, for 8.3 billion renminbi (US$1.3 billion), which meant it now controlled 7 Days Inn.
Maps 7 Days Inn
Overview
7 Days Inn is based in Guangzhou, Guangdong. In 2008, it ranked as China's fifth-biggest hotel chain, with plans to triple their number of locations to 200. As of 2009 its CEO is Zheng Nanyan. The group is a sponsor of the French football club OGC Nice.
Notes
References
External links
- 7 Days Inn (in simplified Chinese)
- Corporate information
Source of article : Wikipedia
0 Comments