Home Inns & Hotels Management Inc. (NASDAQ: HMIN) (“Home Inns Group” or “the Company”), a leading economy hotel chain in China,today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2012.
Home Inns Group acquired Motel 168 and has consolidated Motel 168’s operating and financial results since October 1, 2011.
Consolidated group numbers are presented in this earnings release unless specifically noted. For the purpose of providing more context and comprehensive information to investors, Home Inns Group separately presents key financial data excluding Motel 168 in this earnings release in Appendix 1.
Fourth Quarter and Full Year 2012 Financial Highlights
— Total revenues increased 11.9% to RMB 1.47 billion for the fourth
quarter of 2012 and increased 45.7% to RMB 5.770 billion for the full
year 2012, which was within the higher end of the guidance range of RMB
5.715 billion to RMB 5.810 billion.
— Adjusted EBITDA (non-GAAP) increased 14.6% to RMB 260.5 million (US$41.8
million) for the fourth quarter of 2012 and increased 25.9% to RMB 1.13
billion (US$181.9 million) for the full year 2012