7 Days Inn

7 Days Group Holdings Limited
Company typePrivate
NYSE: SVN
IndustryHotel
Founded2005
HeadquartersGuangzhou, Guangdong, China
Number of locations
4,600 (as December 2018)
Websitewww.7daysinn.cn
7 Days Group Holdings Limited
Traditional Chinese7天連鎖酒店集團
Simplified Chinese7天连锁酒店集团

7 Days Group Holdings Limited,[1] operating as 7 Days Inn (Chinese: 7天酒店; pinyin: Qītiān Jiǔdiàn; Jyutping: Cat1tin1 Zau2dim3), is a Chinese budget hotel chain. It was established in 2005.[2] It has its headquarters in the Creative Industry Zone[3] in Haizhu District, Guangzhou.[4][5]

History

7 Days Inn was established in 2005. Guangzhou was the location of the company's founding.[6]

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.[7] 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.[8]

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;[9] this meant 7 Days Inn was no longer listed on the New York Stock Exchange.[6]

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),[10] which meant it now controlled 7 Days Inn.[11]

Overview

A 7 Days Inn at Tongjiang Street, Daoli District, Harbin

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,[12] As of 2009 its CEO is Zheng Nanyan.[13][8] by end of 2014, 7 days Inn had 2000 hotels in 320 cities and became one of the largest budget hotel chain in China[14] 7 Days Inn is a sponsor of the French football club OGC Nice.[15]

References

  1. ^ "About." 7 Days Inn. Retrieved on October 24, 2012.
  2. ^ a b "China's 7 Days Inn gets $95 mln from three foreign investors", MarketWatch, 2007-09-05, retrieved 2011-05-01
  3. ^ 创意园; 創意園; Chuàngyìyuán; cong3 ji3 jyun4
  4. ^ "Company Profile Archived 2012-11-16 at the Wayback Machine." 7 Days Inn. Retrieved on October 24, 2012. "5C-11 Creative Industry Zone, 397 XinGangZhong Road, Guangzhou, Guangdong 510310, People’s Republic of China"
  5. ^ "about_building.html Archived 2012-11-02 at the Wayback Machine." (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"
  6. ^ a b Liu, Xiaozhuo (2013-07-18). "7 Days economy hotel chain sold". China Daily. Retrieved 2018-01-25.
  7. ^ "Actis, Warburg Pincus invest $65 million in 7 days inn"
  8. ^ a b Liu, Weixun (刘伟勋 Liú Wěixūn) (2009-11-23), 亏损仍获投资者认可 7天酒店纽交所上市, The Economic Observer (in Chinese), retrieved 2011-05-01
  9. ^ "7 Days Group Holdings Limited Announces Completion of Merger"
  10. ^ Ren, Shuli (2015-09-21). "Why Shanghai Jinjiang Hotels Is A Buy". Barron's, Dow Jones & Company, Inc. Retrieved 2018-01-25.
  11. ^ Eisen, David (2015-09-21). "China's Jin Jiang buys controlling stake in budget 7 Days". Hotel Management. Archived from the original on 2020-09-20. Retrieved 2018-01-25.
  12. ^ "China hotel chain 7 Days IPO prices at top of range"
  13. ^ 郑南雁; 鄭南雁; Zhèng Nányàn
  14. ^ "Jin Jiang buys controlling stake in budget 7 Days"". Archived from the original on 2020-09-20. Retrieved 2018-01-25.
  15. ^ "7 Days Inn & OGC Nice strategically cooperate in expanding global market"

External links

Wikimedia Commons has media related to 7 Days Inn.
  • 7 Days Inn (in Chinese)
  • Corporate information
Retrieved from "https://en.wikipedia.org/w/index.php?title=7_Days_Inn&oldid=1211069301"