Home Inns & Hotels Management Inc. (Nasdaq: HMIN) announced two Beijing acquisitions on Tuesday. The company has signed an agreement to acquire the remaining 4.412 percent stake in its majority owned subsidiary Home Inns & Hotels Management (Beijing) Ltd. The Beijing subsidiary operates all Home Inns' leased-and-operated hotels. The 4.412 percent stake is owned through a joint venture that is a subsidiary of Beijing Tourism Group. Home Inns will pay 60 million Yuan in cash and 441,661 ordinary shares of Home Inns for the stake. The transaction is expected to close in the third quarter of 2007. Home Inns Beijing generated 567.9 million Yuan in revenue in 2006 and 174.6 million Yuan in the first quarter of 2007, accounting for approximately 96.5 percent and 95.4 percent of Home Inns' total revenues in 2006 and the first quarter of 2007, respectively. Home Inns also announced the acquisition of Beijing City Sunshine, which has two directly operated economy hotels and one more under development in Beijing. Home Inns expects the acquisition to close in early third quarter and for the newly acquired properties to contribute approximately 6 million Yuan in revenues in 2007.