版权说明:本文档由用户提供并上传,收益归属内容提供方,若内容存在侵权,请进行举报或认领
文档简介
1、Home Inns & Hotels Management Inc.A Leading Economy Hotel ChainNovember 2014Important NoticeThis presentation does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquiresecurities of Home Inns & Hotels Management Inc. (“Home Inns Group” or the “Company”) i
2、n any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Specifically, this presentation does not constitute a“prospectus” within the meaning of the U.S. Securitieof
3、 1933, as amended.This presentation has been prepared by the Company solely for use at the investor presentation. The informationcontained in this presentation has not been independently verified. No representation, warranty or undertaking,express or implied, isas to, and no reliance should be place
4、d on, the fairness, accuracy, completeness orcorrectness of the information or the opinions contained herein. None of the Company or any of its affiliates,advisors or representatives will be liable (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its c
5、ontents or otherwise arising in connection with the presentation.This presentation contains statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to theconsolidated
6、 results of operations and final condition of the Company. These statements can be recognizedby the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” “intends,” or words of similarmeaning. Such forward-looking statements are not guarantees of future performance and involve ri
7、sks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. The Company has no obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances.Participants agree not
8、 to photograph, copy or otherwise reproduce these materials in any form or pass on thesematerials to any otherfor any purpose.2Executive SummarylHigh unit growth driven by high FM demandAt <20% of lodging market, economy hotels sees ample room for growthFavorable long-term business & Leisure
9、travel growth potentialEmerging Market Dynamicsll21.8% market share by room count in economy hotel sector FYE 122,496 hotels in 315 cities with four brands as of Sep 30, 201421.2 million individual frequent guests; 90% bookings are non-OTA drivenlUndisputed Market LeaderllLO: Long-term leases, sub-i
10、nflationary escalations, ¥70K/room investment for Economy brandsFM: no capital requirements and high-margin fee revenue>60% FM hotels by 3Q2014; at least 85% FM hotels for new openingslAsset-Light Business MslllIncreasing revenue mix from margin-rich FMContinued cost control and productivity gain
11、s Opportunistic and systematic price hike to protect andSustainable ProfitableGrowthllize marginExcellent bth and depth of experience in relevndustrieslHigh Caliber andProfessional ManagementMultinational experience with proven strategies and executionStable organization and improving professionalis
12、mll3Long Term Market PotentialIncreasing Domestic Business and Leisure Travel Driving Long-Term GrowthNumber of Domestic Trips(1)Ongoing Demand Shift to Economy Hotels (2)(mm-times)3,2602,0001,5001,0005007842001Total Spending on Domestic Travel(1)40%20%29(RMB bn)2,6271,0000%2 045000l Capturing previ
13、ous 1-3 star hotels market2001l Rapid growth innew demandtravel market drives(1) Source:(2) Source: Goldman Sachs Equity Research & National Tourism Administration of43 2Long Term Market Potential (continued)Significant Upside Potential for Economy Hotels in Fragmented Hotel IndustryLodging Mark
14、et Share By Room(1)Economy Hotel Market Share By Room(2)Jin Jiang 8.5%Hng4-5 Star21%11.6%GreenTree 6.2%Super 83.7%Vienna 1.8%99 Inn 1.6%Independent 39%7 Days13.6%1-3 Star25%Other Economy Hotels 31.2%Home Inn + Motel 21.8%Economy 15%l As of 1H2012, economy hotels* represent 15% of lodging market, whi
15、ch consists ofapproximately 6.5 million rooms.* Economy hotels do not participate in star-rating systeml As of December 31, 2012, there were 9,924economy hotelswith 981,712 rooms(1)(2)Source: Ministry of Commerce of Source:;National Tourism Administration,5Company OverviewTo become the leader within
16、hotel industryMissionproviding lodging products & services to teral publiclA leading economy hotel chaingeographic coverageby number of hotels andCompanylA consistent product and high-quality services catering to value-conscious business and leisure travelersFounded in 2002; 10 hotels in 4 citie
17、s at the end of 20032,180 hotels in 287 cities under four brands as of Dec 31, 2013 RMB 6.35 billion (US$ 1.05 billion) gross revenue in year 2013lGrowthll2013's Most Investment-worthy Mid-range Business HotelBrand for YitelRecognitions2012Brand of the Year by CCTV2010 International Franchisor o
18、f the Year by FLA2010s Most Popular Brand in Green Economy HotelsConsecutive Golden Pillow Award for Best Brand in Economy Hotelsfrom 2005 through 20136Sound StrategiesNumber of hotels2,4963-yr CAGR2,18038.6%Franchised-and-managed hotelsLeased-and-operated hotels1,7721,58653.2%1,4261,308969818728616
19、47136426624.3%910 226 8721344068145803267169810454 1454 83261959410182003420048200522200639200766200894200912020101462011212201225320132873Q14315# of citiesExpand foot print and deepen penetration and capitalize on early-mover advantageImplement multi-brand strategy and strengthen customer loyalty a
20、nd brand valueAttract, train, retain and continuously develop all levels of people in the organizationEnhance information infrastructure to enable operational excellenceBalance growth and profitability with investment discipline and productivity focus7390Dedicated PeopleSeasoned Senior Management Te
21、am with Bth and Depth of Experience inHospitality, Consumer and Other Service IndustriesDavid SunCEO, 2004Jason Zong President & COO, 2006Cathy Li CFO(1,) 2014ll10 years of prior experience in consumer industryFormer vice president of operations for B&Q, a subsidiary of Kingfisherll10 years
22、of prior experience in consumer industryFormer Operation Vice President and General Manager of the east region of B&Qll20 years of business and finance experience in retail and consumer products industriesFormer CFO of Hengdeli Holdings Limited (3389.HK)May WuCSO(2,) 2006ll11 years of prior expe
23、rience in consulting and investment in lodging and consumer sectorsFormer First Vice President at Schroeder Investment Management, North AmericaMotivated and Well-Trained EmployeesCareer-oriented Training at Home Inns Academy and On-the-JobInternal Promotion and Career Development OpportunitiesPerfo
24、rmance-based Bonus and Share-based Compensation(1) Effective on Aug 25, 2014; (2) Chief Strategy Officer8Operational ExcellenceWell-integrated, Centrally Managed and Locally ExecutedAward winning Home Inns AcademyMulti-channel pipeline for qualified hotel Managers e-Learning platform open to all emp
25、loyeeslllTraining andAdvancementConsistent measures for quality of facilities and servicesScheduled inspections and “secret customer” programs Quality score cards enable performance managementlllQuality Assurance ProgramsPerformance- based IncentiveslllCompensive and resuriven KPIsIntegrated with pl
26、anning and measurement cycleDynamically aligned with corporate initiativesllled hotel-level budget and operating planReal-time visibility for monitoring and analysesWeekly reviews with city/regional managersBudgeting and Monitoring9Controls FrameworkProprietary, Integrated, Efficient and ScalableHot
27、elManagement PlatformCentral Reservation System (CRS)Tool-calls, internet and mobile bookings processingCustomer Relationship Management System (CRM)Member information database and analyticsProperty Management System (PMS)Room rates and inventory controlsynchronized with CRS and CRMManagement Report
28、ing System (MRS)Real-time central repository and reporting of operating data10Brand Portfolio2,496 hotel locations in 315 cities across(1)as of Sep 30, 2014lLeading economy hotel brandlBrand perception: warmth and home-like feelHarbinChangchunUrumqiFast growing economy hotel brandShenyanglHohhotDali
29、anlBrand perception: trendiness and efficSiheijianzhcuayngTianjinYinchuanXiningTaiyuanJinanLanzhoulMid-scale business hotel brandZhengzhouXianlBrand perception: elegance and attentivenesHsefeiNanjingHangzhouLasaShanghaiChengduWuhanChongqingNanchangRegional economy hotel brand GinuiyaYngunnanChaanngs
30、hda SouthFwuzheoustlBrand perception: attracKtuinlwith regional themeGuangzhouNanningShenzhenHaikou(1) 208 additional hotels contracted (27 leased-and-operated hotels and 181 franchised-and-managed hotels) and 227 additional hotels under Due Diligence as of Sep 30, 201411Homeinn (如家)A Value Proposit
31、ionSignificant Brand Recognition as a Leader in the Economy Hotel Chain SectorStandardized Yet Differentiated ProductComfortable bed,broadband,lIn-Room Facilitiescold and hot drinking water supply, 24x7 in-room hot waterComfortWarmthConvenienceBasic meals, business center, vending machine, etc.Other
32、 AmenitieslCleanlinessValueConsistent design, appearance, color scheme, decoration, lightingLook & Feell12Homeinn (如家)Recent development2,042 hotels as of Sep 30, 2014Steady unit growthfocus on franchise-and-managed business mProduct modernization to enhance value and pricing potentialdevelopmen
33、t13Motel ()The 5th Largest Economy Hotel BrandPoised for GrowthAn Economy Hotel ProductA Widely Recognized Brand in Key Gateway Citieswith UniquealityComfortable bed,broadband,High geographic concentration in the more developed markets of Shanghai and surrounding gate-way citieslIn-Room Facilitiesco
34、ld and hot drinking watersupply, 24x7 in-room hot waterOther AmenitiesBasic meals, business center,vending machine, etc.lStrong appeal to young travelers, leisure customers, and creative industry professionalsContemporary design to create a bold and refreshing impressionLook & Feell14Motel ()Rec
35、ent Developments - Integration completed in the 3rd quarter of 2013392 hotels as of Sep 30, 2014Continue brand expansion with differentiated look and feelBrand of choice for economy hotel openings to further penetrate mature market15Yitel (和颐)Emerging Market SegmentMid-scale Pricing, Upgraded Experi
36、enceDeliver High Customer Satisfactionfrom Multiple DimensionsHigh quality bed and bedding,refrigerator, complete toiletries, multi-lAchieving balanceIn-RoomFacilitiesmedia,WiFiFeels like home, works like businessDesign and functionalityDining room, business center, and wellness facilitiesOther Amen
37、itieslDedicated guest relations managersElegant and refined design incorporating natural elementslLook & Feeldeliveringalized services16Yitel (和颐)Recent developments31 hotels in operation as of Sep 30, 2014 in 14 tier-one and provincial capital citiesPositive feedback from customers and strong o
38、perating performanceIntroduction of varied business ms including franchise, JV and management contract17四季)Fairyland (A Locally Well-known Economy Hotel Brand in YunnanAn Economy Hotel Product with Regional ThemeA Strong Local Brand in Yunnan ProvinceComfortable bed,broadband,Strong presence in Kun
39、in Yunnan Provinceand other major citieslIn-Room Facilitiescold and hot drinking watersupply, 24x7 in-room hot waterOther AmenitiesBasic meals, business center,vending machine, etc.lAppeal to business and leisure travelers favoring a unique style with local characterDistinctive style with regional d
40、eco elementsLook & Feell18四季)Fairyland (Recent Developments Acquired on May 1, 201431 hotels as of Sep 30, 2014Potential brand expansion in Yunnan and southwest19Business MBalance andsin continued expansion and penetrationLeased-and-OperatedFranchised-and-ManagedHome Inns Group leases property f
41、rom a 3rd party, invests in hotel conversionFranchisee owns or rents property and invests in conversion CapEx maintenancelloingCapExoing R&MBusinessMsTypical 10 to 20-year lease term with sub-inflationary escalationsHome Inns Group retains revenues and profits from hotel operations after operati
42、ng expensesHome Inns Group franchises brand and sends GMs to manage the hotels*Home Inns Group earns a one-lllltime initiation feeoingfranchise and management feeFranchisee retains profits after fees and operating expenseslTypical mused to openlnew markets in earlier yearsNumber of Hotels(1)RevenueC
43、ontribution(2)(1) As of Sep 30, 2014(2) Per result of 3Q2014 operations* GMnel costs are reimbursed by franchisee2014.1%85.9%1,586910Development ProcessAmple Opportunities Still Exist for Continued ExpansionBasic Selection Criteria: Population of over 500,000 Annul GDP Per Capita above 1,200 USD330
44、cities targetedStandardized and Replicable Process Run by Disciplined and Experienced TeamsLeased-and-Operated HotelsAppoint General ManagerHire and Train Hotel StaffHotel ConversionDueDiligence and NegotiationIdentify Potential MarketsSelect Hotel LocationsProject and Contract ApprovalFranchised-an
45、d-Managed HotelsAssist in Hiring and Training Hotel StaffSupervise in Hotel ConversionAppoint General Manager214 - 6 monthsCustomersStable Repeat Customer Base and Increasing Customer LoyaltyFavorable Channel MixRoom Nights Stayed by Customer Channel(1)Strong Brand LoyaltyGrowth of “Active” Membersh
46、ip(3)(000)Member (2) Booking via CRS30%57%Travel Intermediary 10%CRS = Central Reservation System(1) For third quarter 2014; (2) Mobile APP booking which is a portion of Member Booking via CRS,ed for 18% of total booking;(3) “Active” members paid a one-time membership fee and stay at Home Inns Group
47、s hotels at least once within two years to remain active.22Quarterly Operating PerformanceKey performance metricsRevPARADROccupancy %Expo 10 May - OctAcquired Motel07 - 08lower-tier strategyConcluded Motel IntegrationGFC 82.9%200120.00%100.00%15080.00%10060.00%40.00%5020.00%00.00%1Q08 2Q08 3Q08 4Q08
48、 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14l Consistently high occupancy rates supported by demand-driven market dynamicsl Inflationary-like price increases designed to offset cost increases in normal environmentl Diverse geogra
49、phic coverage with early-mover advantage in lower tiers with long-term growthl Resilient economy productrecession or market slow-downl Multi-economy brands for greater access and deeper penetration23Performance (Contd)High Occupancy Rate and Improving ADRLike-for-Like Performance ComparisonHotels in
50、 Operation for At Least 18 Months During the Quarter24GroupCoMINMotelGroupCoMINMotelGroupCoMINMotelNumber of Hotels1,6541,3283261,7321,4043281,8131,483330Quarter End1Q1Q1Q1Q1Q1Q2Q2Q2Q2Q2Q2Q3Q3Q3Q3Q3Q3Q131413141314131413141314131413141314Occupancy86%84%89%86%78%79%89%89%91%90%84%85%91%89%93%90%87%86%
51、ADR (RMB)157157158158152154168166170167162163174175177177163167RevPAR (RMB)135132140135119122150148154150135139159156165160142144YoY RevPAR change (RMB)-3-53-2-44-3-52Final HighlightsNote: Started consolidation of Motels results on Oct 1, 201125(RMB millions except EP-ADS in RMB yuan)201120123Q13201
52、33Q143Q14MovementRevenues from Leased-and-Operated Hotels3,559.75,164.81,535.15,587.51,612.05.0%Revenues from Franchised-and-Managed Hotels400.0604.9204.1765.5264.429.5%Total Revenue3,959.75,769.71,739.26,353.01,876.47.9%Revenue Growth %25.0%45.7%8.8%10.1%7.9%n/aAdjusted Income from Operations1457.3464.1251.1625.6304.321.2%Adj. Operationg Margin %11.5%8.0%14.4%9.8%16.2%180 bpsAdjusted Net Income¹326.1300.3180.9422.8224.324.0%Adj. Net Margin %8.2%5.2%10.4%6.7%12.0%160
温馨提示
- 1. 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007和PDF阅读器。图纸软件为CAD,CAXA,PROE,UG,SolidWorks等.压缩文件请下载最新的WinRAR软件解压。
- 2. 本站的文档不包含任何第三方提供的附件图纸等,如果需要附件,请联系上传者。文件的所有权益归上传用户所有。
- 3. 本站RAR压缩包中若带图纸,网页内容里面会有图纸预览,若没有图纸预览就没有图纸。
- 4. 未经权益所有人同意不得将文件中的内容挪作商业或盈利用途。
- 5. 人人文库网仅提供信息存储空间,仅对用户上传内容的表现方式做保护处理,对用户上传分享的文档内容本身不做任何修改或编辑,并不能对任何下载内容负责。
- 6. 下载文件中如有侵权或不适当内容,请与我们联系,我们立即纠正。
- 7. 本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
最新文档
- GB/T 41232.8-2024纳米制造关键控制特性纳米储能第8部分:纳米电极材料中水分含量的测定卡尔·费休库仑滴定法
- 诚信教育活动方案
- 培养管理能力
- 品质经理的年终总结
- 礼貌课课件教学课件
- 采样定理课件教学课件
- 2.3.2气体摩尔体积 课件高一上学期化学人教版(2019)必修第一册
- 吉林省2024七年级数学上册第2章整式及其加减阶段综合训练范围2.4课件新版华东师大版
- 流行病调查毕业论文
- 文明出行校园交通安全教育主题班会课件
- 第二章搅拌摩擦焊
- 内分泌科医师培养细则
- 蛋白质与酶工程复习题 金
- 五金件通用检验标准
- 菲迪克条款中文最新版
- kummell 病ppt课件
- 小班综合活动《出生的秘密》
- 习题参考答案
- 绿化养护报价表(共8页)
- 结构工程工作危害分析(JHA)
- 列管式冷却器GLC型冷却器尺寸表
评论
0/150
提交评论