Before going into highlights of our operations for the past quarter and the full year of 2011, I would like to provide an update on our progress of the Motel 168 integration. We found no surprises post-closing, which allow us to focus on execution on integration plan. We are very pleased to report that our initial integration efforts has already generated positive results. We [secured] brand level and the region level leadership organization with (inaudible) from Home Inns and stabilized hotel level operation workforce.Employees’ living condition and working environment have been improved dramatically. Sales and marketing platform including pricing structure have been revamped. Motel 168 customer loyalty program are integrated with Home Inns. And hotel utilization projects are well underway, which include facility renovations and refreshment of quality consumables. [Ways of] training have taken place at various levels of the organization, and a transparent and results-driven KPI program have been implemented. With the (inaudible) and empowered workforce combined with a clear goal-oriented company stewardship, Motel 168 delivered 73.5% occupancy rate and a RevPAR of RMB113 in the fourth quarter of 2011.
Home Inns' CEO Discusses 4Q2011 Results - Earnings Call Transcript
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