OCT International Hotel Management Co., Ltd. (OCT) used listing form for selling its 100% stake due to insufficient profitability of its budget hotel City Inn.

After OCT International Hotel Management Co., Ltd. (OCT) used listing form for selling its 100% stake of the budget hotel City Inn due to its insufficient profitability, many other domestic hotel group began to divest its budget hotel sector. About this situation, the insiders generally believe that the budget hotels have begun to approach its profit ceiling. The top priority of the budget hotels is to seek new development.

About OCT International Hotel Management Co., Ltd.

OCT International Hotel Management Co., Ltd. came into existence in April 2005 with registered capital more than RMB 100,000,000. It is another strategic action of OCT Hotel Group after the successful development of Venice Hotel, Seaview Hotel and City Inn. It indicated that OCT Group has upgraded her business in hotel industry. International Hotel Management Co., Ltd regards the branding strategy as her core development strategy from the initial stages. Established in 2005, OCT International Hotel Management Co., Ltd. has owned and managed a broad range of hotel brands targeting different markets, including the platinum five-star hotel brand – OCT Grand Hotel, OCT Boutique Hotel Series, five-star hotel brand – OCT Hotel, four-star hotel brand – O•City, and city themed hotel chains – CityInn. Currently, the company owns or manages over 40 hotels, whose brands cover over 10 cities and regions including Shenzhen, Beijing, Guangzhou, Chengdu and Taizhou, with the guest rooms totaling over 6,000. Meanwhile, the company provides consulting services for over 20 hotels in Beijing, Shenzhen, Kunming, Chengdu, Wuhan, Shanxi., etc.