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Deutsche Bank Markets Research Asia Industry Date China 20 February 2017 Consumer China Hotels: Hotels / Leisure / Industry Update Gaming Tallan Zhou Karen Tang Research Analyst Research Analyst Expert call alert: Operational update (+852 ) 2203 6464 (+852 ) 2203 6141 on China budget hotel [email protected] [email protected] Industry specialist conference call on China budget hotel’s market share and Focus stocks operations; Friday Mar 3, 3:00pm HKT China Lodging (HTHT.OQ),USD55.98 Buy Price We will host a conference call with a specialist in economy hotels in China, Mr. Target USD60.00 Shengyang Hu (Chief Executive Officer, Shanghai Inntie Hotel Management). Jinjiang International Hote (2006.HK),HKD2.24 Inntie is the top 1 consulting brand of budget hotel in China. Buy Price Target HKD3.70 Jinjiang Hotels Development When: Friday Mar 3, 3:00pm HKT (7:00am GMT/ 2:00am ET) (600754.SS),CNY30.18 Hold Price Target CNY36.00 Speaker Biography Source: Deutsche Bank Shengyang Hu, Chief Executive Officer, Shanghai Inntie Hotel Management In this position, he is responsible for budget hotel industry research, hotel management and training, consulting for hotel M&A. He regularly conducts research on top 10 budget hotels in China such as HOME INN, 7 days, HanTing Inns & Hotels, JINJIANG INN, SUPER 8 HOTEL, MOTEL 168, Green Tree Inn, ibis HOTEL, Pudding and etc. He liaises directly with CEOs or senior management of the top 10 budget hotels in China. He has extensive knowledge on general industry trends, competitive landscape, pricing strategy, hotel operation and branding of China budget hotels. He has been in this industry since 2005. He is located in Shanghai, China. Dial- in detials China: 8008700210/4001203170 HK: 800906648/+852 30512792 Singapore: 8006162313/+65 31580667 UK: 08082341369/+44 2036514876 US: 18007429301/+18455071610 Moderator: Tallan Zhou Conference ID: 75513524 ________________________________________________________________________________________________________________ Deutsche Bank AG/Hong Kong Distributed on: 20/02/2017 03:21:29 GMT The views expressed above accurately reflect the personal views of the authors about the subject companies and its(their) securities. The authors have not and will not receive any compensation for providing a specific recommendation or view. Deutsche Bank does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from local exchanges via Reuters, Bloomberg and other vendors. FOR OTHER IMPORTANT DISCLOSURES PLEASE VISIT http://gm.db.com/ger/disclosure/DisclosureDirectory.eqsr; MCI (P) 057/04/2016. .

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The World's Biggest Hotel Companies. Old Trends and New Tendencies
MISCELLANEA GEOGRAPHICA – REGIONAL STUDIES ON DEVELOPMENT Vol. 19 • No. 4 • 2015 • pp. 26-33 • ISSN: 2084-6118 • DOI: 10.1515/mgrsd-2015-0020 The world’s biggest hotel companies. Old trends and new tendencies Abstract Many hotels are owned by a few dozen so-called hotel chains or hotel Andrzej Kowalczyk systems. The rapid growth of big hotel companies can be regarded as proof of the entrance of hotel systems into the globalisation phase. Since 2006, companies from the People’s Republic of China (PRC) have been among the world’s top hotel systems. This year can be considered Department of Geography of Tourism & Recreation as the symbolic beginning of a new stage in the history of the largest Institute of Socio-Economic Geography & Spatial Management hotel systems. This paper shows two main trends. On the one hand, the Faculty of Geography & Regional Studies processes that could be observed in the market of the major global hotel University of Warsaw Poland systems from the 1990s are still discernible (for example, the position of e-mail: [email protected] the so-called hotel megasystems). On the other hand, new trends have come to the fore in recent years, notably the emergence of systems from the People’s Republic of China among the world’s largest hotel systems. Keywords Hospitality • hotel megasystems • Chinese hotel chains Received: 30 September 2014 © University of Warsaw – Faculty of Geography and Regional Studies Accepted: 18 August 2015 Introduction A large proportion of hotels worldwide are owned by a few systems, non-cash settlements, launching new services for clients dozen so-called chains or systems, many of which operate and new technological solutions in catering, and so on.
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