China Lodging Group, Limited (China Lodging) operates hotel chain in China with leased-and-operated and franchised-and-managed models. Under the lease model, it directly operates hotels typically located on leased properties. Under the manachise model, the Company manages manachised hotels through the on-site hotel managers it appoints and collects fees from franchisees. Under the franchise model, it provides training, reservation and support services to the franchised hotels and collect fees from franchisees but do not appoint on-site hotel managers. As of December 31, 2012, it had 465 leased hotels, 516 manachised hotels and 54 franchised hotels in operation and 80 leased hotels and 330 manachised hotels under development. In May 2012, the Company acquired a 51% equity interest of Starway Hotels (Hong Kong) Limited from C-Travel International Limited, a wholly-owned subsidiary of Ctrip. As of December 31, 2012, it operated 1,035 hotels in China.