BrandWikiReturn

7 Days Inn

7 Days Group Holdings Limited,[1] operating as 7 Days Inn, is a Chinese budget hotel chain. It was established in 2005.[2] It has its headquarters in the Creative Industry Zone in Haizhu District, Guangzhou.[3][4]

History

7 Days Inn was established in 2005. Guangzhou was the location of the company's founding.[5]

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.[2] In 2008, Actis Capital led a US$65 million investment in 7 Days Inn, in which Warburg Pincus again participated.[6] 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 July 2013, the founders of 7 Days Inn, Mr. Boquan He, Mr. Nanyan Zheng, Mr. Chien Lee, Ms. Qiong Zhang together with Carlyle Group and Sequoia Capital took 7 Days Inn private for US$688 million and 7 Days Inn became the Plateno Hotels Group;[7] this meant 7 Days Inn was no longer listed on the New York Stock Exchange.[5]

In 2015 Jinjiang Hotels bought 81% of Keystone Lodging, the holding company of Plateno Hotels, now the parent company of 7 Days Inn, for 8.3 billion renminbi (US$1.3 billion),[8] which meant it now controlled 7 Days Inn.[9]

Overview

7 Days Inn is based in Guangzhou, Guangdong China and founded in 2005, the hotel chain has grown from 5 hotels in 2 cities in 2005 to 283 hotels in 41 cities when it listed on the New York Stock Exchange in September 2009,[10] As of 2009 its CEO is Zheng Nanyan.[11] By the end of 2014, 7 days Inn had 2000 hotels in 320 cities and became one of the largest budget hotel chain in China.[12] 7 Days Inn is a sponsor of the French football club OGC Nice.[13]

External links

References

  1. "About." 7 Days Inn. Retrieved on October 24, 2012.^
  2. China's 7 Days Inn gets $95 mln from three foreign investors 2007-09-05, retrieved 2011-05-01^
  3. "." 7 Days Inn. Retrieved on October 24, 2012. "5C-11 Creative Industry Zone, 397 XinGangZhong Road, Guangzhou, Guangdong 510310, People’s Republic of China"^
  4. "about_building.html ." (Select the "联系方式" tab) 7 Days Inn. Retrieved on October 24, 2012. "【总部】广州市海珠区新港中路397号TIT创意园5C大道11号"^
  5. Liu, Xiaozhuo. 7 Days economy hotel chain sold China Daily, 2013-07-18, retrieved 2018-01-25^
  6. "Actis, Warburg Pincus invest $65 million in 7 days inn"^
  7. Days Group Holdings Limited Announces Completion of Merger"^
  8. Ren, Shuli. Why Shanghai Jinjiang Hotels Is A Buy Barron's, Dow Jones & Company, Inc., 2015-09-21, retrieved 2018-01-25^
  9. Eisen, David. China's Jin Jiang buys controlling stake in budget 7 Days Hotel Management, 2015-09-21, retrieved 2018-01-25^
  10. "China hotel chain 7 Days IPO prices at top of range"^
  11. Liu, Weixun (刘伟勋 Liú Wěixūn). http://www.eeo.com.cn/industry/weekly_firms/2009/11/23/156348.shtml 2009-11-23, retrieved 2011-05-01^
  12. Jin Jiang buys controlling stake in budget 7 Days retrieved 2018-01-25^
  13. Days Inn & OGC Nice strategically cooperate in expanding global market"^