Home Inns Group Reports First Quarter 2013 Financial Results
Total Revenues Increased 12% Year over Year to RMB 1.40 billion
Adjusted Net Income Improved to RMB 10.3 million
SHANGHAI, May 13, 2013 - 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 first quarter ended March 31, 2013.
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 regarding Motel 168’s integration, Home Inns Group has separately presented key financial data for Motel 168 hotels through the end of 2012. The Company will continue to provide Motel 168’s operating metrics and revenues through the remaining integration period in 2013.
First Quarter 2013 Financial Highlights
— Total revenues increased 11.7% to RMB 1.402 billion (US$225.8 million)
for the first quarter of 2013, which was within the guidance range of
RMB 1.385 billion to RMB 1.415 billion.
— Adjusted net income (non-GAAP) was RMB 10.3 million (US$1.7million)
compared to a loss of RMB 24.6 million in the first quarter of 2012..
— Adjusted EBITDA (non-GAAP) increased 30.3% to RMB 216.1 million (US$34.8
million) or 15.4% of total revenues compared to 13.2% in the first
quarter of 2012.