Home Inns & Hotels Management Inc (HMIN) Misses Q1 EPS by 0.02 RMB

Home Inns & Hotels Management Inc (NASDAQ: HMIN) reported Q1 EPS of RMB0.67, RMB0.02 worse than the analyst estimate of RMB0.69. Revenue for the quarter came in at RMB1.47 billion versus the consensus estimate of RMB1.41 billion.

"Despite continued softness in macroeconomic conditions in the first quarter, we achieved revenues within our target range and are pleased to deliver the fifth consecutive quarter of year over year margin expansion," said Mr. David Sun, the Company's chief executive officer. "While coping with the absence of a full market-wide recovery, we maintained relatively stable performance in our core mature hotels, further increased contributions from our franchised-and-managed operations, implemented further operational enhancements for Motel168, and continued effective cost control initiatives."

Mr. Sun continued, "Looking ahead to the remainder of 2014, we are seeing some early signs of market stabilization but we remain cautious on the outlook for the overall travel market, especially in the business travel segment. Nevertheless, we have proven that our business model and operational structure are resilient under current market conditions. We are also confident that we are well positioned to benefit from any market improvements by executing our franchise and multi-brand development plans and maintaining a sensible expansion pace that will deliver modest but steady revenue growth, sustained margin expansion, and long-term value for our shareholders."

For earnings history and earnings-related data on Home Inns & Hotels Management Inc (HMIN) click here.

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