Aug. 17, 2010 (China Knowledge) - 7 Days Group Holdings Ltd<SVN>, a hotel chain based in China, on Aug. 12 posted RMB 30.16 million-net profit for the second quarter of this year on a GAAP basis, whereas it suffered RMB 6.23 million loss in the corresponding period of 2009.
Operating revenue surged 24.9% year on year to RMB 373 million, RMB 360 million of which was derived from hotel franchising and RMB 13 million was contributed from hotel branches.
During the period from April to June, the company opened 18 franchised hotels and 35 hotel branches.
At the end of Jun. 30, the company had 13 million members, reflecting a year-on-year increase of 65% and it had 399 hotels totaling 39,561 rooms under operation in 62 cities in China.
On a non-GAAP basis, the New York-listed firm's net profit reached RMB 32.1 million, compared with a net loss of RMB 1.8 million it suffered in the second quarter of last year.
7 Days Group said its operating revenue may reach between RMB 395 million and RMB 405 million in the third quarter of this year.
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