Hotel Development
| Number of hotels in operation | Number of rooms in operation | |||||
| Opened | Closed (1) | Net added | As of | Net added (2) | As of | |
| in Q4 2014 | in Q4 2014 | in Q4 2014 | December 31, 2014 | in Q4 2014 | December 31, 2014 | |
| Leased hotels | 8 | (1) | 7 | 611 | 336 | 72,335 |
| Manachised hotels | 141 | (2) | 139 | 1,376 | 11,945 | 136,689 |
| Franchised hotels(3) | -- | -- | -- | 8 | -- | 931 |
| Total | 149 | (3) | 146 | 1,995 | 12,281 | 209,955 |
(1) Three hotels were closed in the fourth quarter. Among those, a leased hotel was transformed to a manachised hotel; and two manachised contracts were terminated.
(2) A total of 1,260 hotel rooms were in renovation during the fourth quarter, which posed a short-term negative impact on hotel revenues.
(3) refers to franchised Starway hotels
