Ctrip.com International, an online travel service provider in China, has raised its holdings in Home Inns & Hotels to 8.72% from the previous 7.55%.
Overseas media report that Ctrip.com will increase its holdings in Home Inns to 17.72% for investment purposes, but this further stake has been denied by Ctrip.com. The company says it won't raise its stake in Home Inns to this level: at least not in the next 30 days.
Ctrip.com says it needs to report to the U.S. Securities and Exchange Commission for each percent by which its holding increases.
Ctrip.com is reported to have purchased a 7.55% stake Home Inns stake December 9, 2008 and another 1.17% after that date.
Ctrip.com was founded in 1999 by Liang Jianzhang, Shen Nanpeng, Ji Qi, and Fan Min. Shen Nanpeng and Ji Qi are also founders of Home Inns. At present, Ctrip.com holds 125.8 million shares of Home Inns.
(China Hospitality News January 6, 2009)
