It’s about $44 now. Today IBD published an article about Home Inns. The author’s view is a little too optimistic: as I understand serious domestic competitor includes motel168, besides the Jinjiang Inn. I noticed Jinjiang Inn also offers free broad band Internet now, as this was a key differentiator for Home Inn/Ru Jia in the past. Super 8, the US motel Chain, is also expanding very aggressively in China.
“In addition to the 134 hotels it has open, Home Inns says 48 more are under contract — 28 of which it will lease and operate, with the remaining 20 franchised.” It’s not just the number of hotels, the thing matters is the number of leased and operated hotels.
PS, I am wary of the analogy to “starbucks”. How many companies/people tried to be next Microsoft/Bill Gates? Only one succeeded (Google). Or you can count Apple if you like. Very limited…