China Lodging Group, a leading economy hotel chain in China with three products (HanTing Express, Seasons and Hi Inn), announced terms for its IPO on Friday. The Shanghai-based company plans to raise $101 million by offering 9 million ADSs at a price range of $10.25 to $12.25. At the mid-point of the proposed range, China Lodging will command a market value of $713 million. China Lodging, which was founded in 2007 and booked $185 million in sales last year, plans to list on the NASDAQ under the symbol HTHT. Goldman Sachs and Morgan Stanley are the lead underwriters on the deal, which is expected to price on Thursday, March 25th.
