90% of Marriott’s hotels in China achieved profitability last year; Wanda gave up control of the world’s largest cinema

Quotes about cultural tourism giants

1. Many shareholders of Tuniu withdrew, and Dundec became the largest shareholder

On March 16, according to Qichacha Nanjing Tuniu Technology Co., Ltd. underwent a number of industrial and commercial changes on the 14th. The major shareholder and actual controller was changed from Gobi Ventures CEO Wang Haifeng to Tuniu founder Yu Dunde. It is understood that Yu Dunde's equity ratio has changed from 28.66% to 80.89%, and a new shareholder "Chen Anqiang" has been added. In addition, Wang Haifeng, Wang Tong, Wang Jiping, Yan Haifeng, Wen Xin, and Tan Yongquan withdrew from the list of shareholders, and the new shareholder Chen Anqiang's shareholding ratio was 19.11%. It is reported that on May 29, 2020, Tuniu announced the promotion of Chen Anqiang to the company’s chief financial officer.

2. Hainan High Court: 321 companies including HNA Group have undergone substantial merger and reorganization

On March 15, the Hainan Higher People’s Court issued an announcement stating that according to the relevant managers’ Application, the court ruled in accordance with the law on March 13, 2021, to carry out substantive merger and reorganization of 321 companies including HNA Group Co., Ltd., and on the same day designated the administrator of HNA Group Co., Ltd. to serve as the manager of the substantive merger and reorganization case of 321 companies including HNA Group people. The announcement pointed out that the property preservation measures of 321 companies including HNA Group Co., Ltd. should be lifted, the execution procedures should be suspended, and creditors can declare their claims to the administrator. Creditors of 321 companies including HNA Group Co., Ltd. should declare their claims to the administrator before May 20, 2021, stating in writing the amount of the claims, whether there is property guarantee, and whether they are joint and several claims, etc., and provide relevant evidence and materials, and the specific declaration method and details will be notified separately by the administrator. The announcement also pointed out that the first creditors' meeting of the substantive merger and reorganization case of 321 companies including HNA Group Co., Ltd. will be held online at 9 a.m. on June 4 at the National Enterprise Bankruptcy and Reorganization Case Information Network of the Supreme People's Court. The specific meeting Details will be notified separately by the administrator.

3. The stock price rose by more than 30%, Western Region Tourism: It is normal for Xinjiang tourism to show signs of recovery

On March 15, Western Region Tourism issued an announcement stating that the company’s stock price will drop in March 2021. The cumulative deviation of the closing price increase for two consecutive trading days on March 12 and March 15 exceeded 30%. According to the relevant regulations of the Shenzhen Stock Exchange, this is a case of abnormal fluctuations in stock trading. The company stated that the domestic epidemic situation has been stabilized recently, the temperature has gradually recovered, and the number of tourists has gradually increased. Compared with last year, Xinjiang tourism has shown signs of recovery, which is normal and consistent with the tourism situation in other regions in the country. After verification, the company, controlling shareholders and actual controllers have no major matters that should be disclosed but have not been disclosed, or major matters that are in the planning stage.

4. Kaiyuan Hotel: Net profit dropped by 90% to 19.7 million yuan in 2020

On March 15, Kaiyuan Hotel released an announcement on its 2020 performance. The announcement shows that during the reporting period, the group achieved revenue of approximately 1.598 billion yuan, a decrease of approximately 17.1% from the same period last year. The decrease in revenue was mainly due to the impact of the epidemic. The group’s gross profit was approximately 335 million yuan, a decrease of approximately 40.8% from the same period last year. . The group’s profit before interest, taxes, depreciation and amortization EBITDA was approximately RMB 563 million, a decrease of approximately 24.0% from the same period last year, mainly due to the significant decrease in revenue affected by the epidemic. The profit attributable to the owners of the company was approximately RMB 19.7 million, a decrease of approximately 90.3% compared with the same period last year. This was mainly due to the significant decrease in revenue, coupled with the increase in the number of hotels, and the increase in depreciation, amortization and other expenses, so the profit decreased significantly. . According to the announcement, Kaiyuan Hotel Group has signed contracts with 147 hotels in 2020. The number of contracted hotels has decreased compared with the same period last year due to the epidemic. The number of hotel rooms is approximately 59,200, an increase of approximately 44.0% and approximately 32.3% respectively from December 31, 2019.

5. AMC, the world’s largest theater chain, lost US$4.6 billion last year, and Wanda gave up control

On March 15, AMC Entertainment Holdings (AMC), the largest theater chain operator in the United States, stated that in Dalian Wanda Group has given up its controlling stake in the company after a record loss of $4.6 billion in 2020.

AMC disclosed in its annual report that as of March 3, 2021, Wanda's shareholding and voting rights in AMC dropped to 9.8%, but Wanda Group remains AMC's largest shareholder. Affected by the epidemic, AMC closed nearly 1,000 theaters around the world, suffering heavy losses and even falling into bankruptcy. The annual report shows that AMC's net profit attributable to its parent company in 2020 suffered a huge loss of US$4.589 billion, and its operating income was only US$1.242 billion, a year-on-year decrease of 77.29%. It is reported that when Wanda acquired AMC in 2012, it paid a total of US$3.1 billion. Today, AMC’s total market value is only US$1.5 billion.

6. Marriott: 90% of its hotels achieved profitability last year and will focus on expanding selected service brands in the next three years

On March 15, according to Marriott International Group, Marriott plans to expand its hotel chain in 2020 this year. Based on the 36 new hotels opened in the year, more than 60 new hotels have been opened in China. Marriott International also stated that thanks to China's effective epidemic prevention and control and resumption of work and production, Marriott's business in China began to show a rapid recovery trend from the second half of 2020, with 90% of its hotels achieving profitability throughout the year. The group also said that China's economy is leading the global market recovery in the face of the severe test of the new coronavirus epidemic. On March 3, Marriott revealed that it currently operates more than 400 hotels in nearly 100 cities in China, covering 24 hotel brands, of which high-end and luxury brands account for 70%. In the next three years, Marriott plans to expand in high-end and luxury hotels. Based on the market share of luxury brands, we will focus on expanding the selected service brand camp.

7. Wangfujing applied to register the "Wangfujing Duty Free" trademark

On March 16, according to Tianyancha, Wangfujing Group Co., Ltd. recently applied to register multiple "Wangfujing Duty Free" trademarks. "Jing Duty Free" trademark covers jewelry and watches, daily chemical products, leather goods, clothing, shoes and hats, advertising and sales, etc. It is understood that the application date is March 9, 2021, and the current trademark status is "trademark application pending." On June 9 last year, Wangfujing announced that the company had been granted duty-free business qualifications by the Ministry of Finance. Wangfujing becomes the eighth company in China to have a duty-free license. The previous seven companies are China Duty Free Group, Rishang Duty Free, Hainan Duty Free, Zhuhai Duty Free, Shenzhen Duty Free, China Shipping Service Duty Free and China Overseas Duty Free. More than half a year after obtaining the tax-free license, Wangfujing launched its first tax-free project in Hainan.

8. Tempus International: Controlling shareholder Tempus Group passively reduced its holdings of 4.3267 million shares due to pledge default

On March 15, Tempus International issued an announcement stating that the company received control Shareholder Tempus Group's "Notification Letter on the Implementation Progress of the Plan to Passively Reduce Tempus International Stocks", as of March 12, 2021, Tempus Group has disclosed more than half of the number of passive reduction plans. This time, 4.3267 million shares were passively reduced, accounting for 0.70% of the company’s total share capital. Prior to this, due to the default of the pledge financing contract of Guohai Securities Co., Ltd., the controlling shareholder Tempus Group Co., Ltd., the Guohai Securities Business Department will sell off the person subject to execution, Tempus, based on the execution assistance notice issued by the Intermediate People's Court of Nanning City, Guangxi. The group owns 7.79 million company shares. On the same day, Tempus International also issued an announcement stating that the cumulative deviation of the closing price increase of the company's stock for two consecutive trading days on March 12, 2021 and March 15, 2021 reached more than 30%. Although according to relevant regulations, it is a stock transaction. Abnormal fluctuations. However, the company stated in the announcement that it has been confirmed that, except for the disclosed announcement, there are no matters that should be disclosed but have not been disclosed.

Destination Investment Barometer

1. Wanzhou District, Chongqing: The Three Gorges Henghe Tourism Resort has a total investment of 9 billion and is expected to be completed in 2025

Recently, Chongqing Wanzhou District has invested 9 billion yuan in the construction of the Three Gorges Henghe Tourism Resort. The project will be completed in 2025. It is reported that the resort includes Longfeng Valley View Gallery, Forest Resort, Rural Leisure Area, Alpine Health and Residence Town, etc. "The forest resort will be built into 2-3 national 4A-level scenic spots; the rural leisure area is composed of colorful fruit groves, medicinal flower valleys, and seedling gardens; and the alpine health resort town will bring new experiences of future vacation life. According to the person in charge According to the introduction, Three Gorges Henghe will focus on the three cards of "eco-tourism", "healthy residence" and "alpine summer resort", strengthen the integration of agriculture, culture and tourism, and consolidate and expand the effective connection between poverty alleviation achievements and rural revitalization.

The district has cultivated a number of central towns, strong industrial towns, and famous cultural towns according to local conditions, forming a number of important pivots for rural revitalization, driving the comprehensive upgrading of agriculture, comprehensive rural progress, and all-round development of farmers in the region.

2. Civil Aviation Administration of China: There will no longer be unified regulations on the size and weight of passengers’ baggage, free baggage allowance, etc.

On March 15, the Civil Aviation Administration of China disclosed at a press conference that the "Public Aviation Administration of China" ***Air Transport Passenger Service Management Regulations" were officially promulgated and will be officially implemented on September 1 this year. The new "Regulations" coordinate and revise the documents promulgated in 1996 and 1997 respectively, further standardizing the domestic and international passenger transportation order. Protect the legitimate rights and interests of passengers. The "Regulations" focus on key aspects such as ticket sales, ticket changes, refunds, and overbooking, stipulate the information notification requirements for carriers and aviation sales agents when booking tickets, and clarify the principles of ticket cancellation, change, and refund period under various circumstances. ; Standardizes the principles of disposal when overbooking occurs. In addition, in order to fully unleash market vitality, the "Regulations" no longer provide unified regulations on baggage size and weight, free baggage allowance, excess baggage fees, etc., but require carriers to formulate relevant standards based on the company's operating characteristics and publish them to the public.

3. Hainan has relaxed market access to rural homestays and entered as promised

On March 15, the Hainan Provincial Department of Housing and Urban-Rural Development reported that many departments in Hainan Province have The "Hainan Province Rural B&B Management Measures" have been comprehensively revised, clarifying that the opening of rural B&Bs shall implement a registration system with commitment. It is reported that in the future, in the process of opening rural B&Bs, Hainan will integrate special industry business licenses, public health licenses, food business licenses, etc., and rural B&B operators will be registered and filed as long as they make relevant commitments once, so as to achieve " One form, one set of materials, one submission, multiple reuse” to facilitate the masses. At the same time, Hainan encourages the revitalization of idle rural homestead sites and supports the accelerated development of rural leisure tourism and rural homestay industries. Hainan stipulates the building scale of a single building in a rural B&B. The business guest rooms of a rural B&B should be 14 rooms, 800 square meters, and within 3 floors in height.

4. Sanya offers bonuses to invite tourist consumers to “pick faults” and make suggestions

5. Lushan, Henan: Yaoxing International Hot Spring Resort Town project launched with a total investment of 4 billion

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On March 14, the launching ceremony of the Yaoxing International Hot Spring Resort Town project in Xiatang Town, Lushan County, Pingdingshan was held. It is understood that in November last year, Yaoxing International Group Co., Ltd. signed a contract with the Lushan County Government to invest in the construction of the Lushan County Cultural Tourism Complex Project, with a planned total investment of 5.2 billion yuan, including three sub-projects, namely the Lufeng Mountain Project and Xiatang Town Project. Project, Huanglong Bay Project. Among them, the Yaoxing International Hot Spring Resort Town project is expected to invest more than 4 billion yuan. It is located in Xiatang Town, Lushan County. The first phase covers an area of ??about 1,500 acres. The project plans to restore the regional ecology, build an ecological wetland park, fully explore and utilize hot spring resources, and scientifically plan and build a hot spring town integrating hot spring hotels, B&Bs, commerce, and health care.

6. Qingdao: Last year, there were more than 128 key cultural tourism projects with a single investment of more than 50 million yuan.

Recently, Qingdao held a city-wide "Project Implementation Year" scheduling meeting. The meeting deployed various tasks for the "Project Implementation Year". Among them, the culture and tourism fields involve two industrial chains: cultural and creative investment promotion and boutique tourism investment promotion. It is understood that as of the end of 2020, Qingdao has more than 128 key cultural tourism projects under construction, under contract, and under negotiation with individual investments of more than 50 million yuan. Among them, there are 40 cultural tourism projects led by the Qingdao Municipal Culture and Tourism Bureau, and 7 have started construction, involving cultural and creative industries, resort towns, Internet celebrity industries, tourism performing arts, fashion equestrians, theme parks, etc. field.

Insights on cultural tourism consumption

1. No nucleic acid certificate is required to enter Beijing from low-risk areas, and air ticket and hotel bookings have increased

March 15, Beijing Municipal Government News The office's official Weibo recently announced that starting from 0:00 on March 16, people from low-risk areas in the country no longer need to have a negative nucleic acid test certificate taken seven days before arriving in Beijing to return to Beijing. Affected by this news, searches and bookings for Beijing-related air tickets and hotels increased accordingly. Tourism agencies predict that Beijing’s cancellation of nucleic acid test certificates will stimulate recent travel, and the demand for vacations and family visits may gradually be released.

Data shows that starting from March 16, rigid travel represented by business travel will usher in a wave of substantial growth. Ctrip data shows that the instant search volume for routes originating from Beijing has soared. Among the search information, the most popular destinations are Shanghai, Chengdu, Sanya, Shenzhen, Guangzhou, Chongqing, Hangzhou, Kunming, Changsha, and Wuhan. Starting from the second half of the Spring Festival holiday, hotel bookings for May Day started, and with the release of the news that low-risk areas do not require nucleic acid certificates to enter Beijing, tourists' demand for travel during the Qingming Festival and May Day holidays has increased significantly. Data from “Qunar” shows that as of now, routes from Beijing to Shanghai, Guangzhou, Chengdu, Hangzhou, Shenzhen and other places have the most popular bookings. In terms of hotel bookings, "Qunar" data shows that so far, the number of hotel bookings on May Day this year has exceeded the same period in 2019. Multiple hotel room types in popular tourist destinations such as Luoyang, Dali, and Suzhou have experienced inventory shortages.

2. Mafengwo’s “May Day” travel search popularity increased by 130%

3. Airbnb: 85% of people are planning or have booked travel in 2021

Recently, Airbnb released travel trends for 2021, and 85% of people are planning or have booked travel for 2021. According to the survey, 92% of the respondents said that traveling was what they missed most during the epidemic, of which 80% said they missed domestic leisure travel and 49% missed traveling abroad. Compared with normal times before the epidemic, 83% of people believe that traveling with family or friends is more important. Survey data shows that in the spring of 2021, on average, each tourist plans 1.6 trips. When planning a May Day trip, 51% of people choose nearby cities outside the province, 27% are willing to travel to distant cities outside the province, and more than 60% of tourists will consider homestays when traveling in spring.