The Influence of COVID-19 Epidemic on Tourism Enterprises

1, Travel Agency: The epidemic accelerated the survival of the fittest and forced transformation. There are not many strategic liabilities for light assets, but the travel agency industry has gradually entered a recession. This epidemic will accelerate the elimination and transformation of travel agencies. During the epidemic period, 1.3 million tour guides of nearly 40,000 travel agencies across the country faced survival problems. The income of tour guides is relatively flexible and basically depends on commission. In the past six months, their income will drop significantly.

2. Scenic spots: Large scenic spots have strong anti-risk ability, but their long-term impact should not be underestimated. Many scenic spots belong to state-owned enterprises and large enterprises, but they still have certain ability to resist risks despite serious losses. However, in recent years, the debt ratio of small towns and entertainment cities with rapid expansion of real estate enterprises will be higher and the risks will be greater. The epidemic may accelerate the sale and reorganization of this resource. For example, HNA was in debt trouble, and it hit a new low of-16.34% four days after the market opened.

3. Hotel industry: Hotel demand has been significantly impacted, and the turning point of business that has stabilized and rebounded will be moved to next year. Due to the downward pressure of the economy, the operating conditions of the hotel industry have been hovering at the bottom since 20 18, and it is expected to stabilize and rebound this year. However, this epidemic has changed the existing logic. It is expected that the hotel industry will be hit hard during this epidemic, and the turning point of the hotel industry's stabilization and recovery may be moved to next year.

4. Duty-free shops: The revenue in the first quarter was greatly reduced, which had a great short-term impact. At present, all four duty-free shops in Hainan are closed, and the resumption time is uncertain. However, the Spring Festival is the peak tourist season in Hainan. In the first quarter, Hainan's tax-free income from outlying islands accounted for about 30% of the whole year. Therefore, the suspension of business has a great impact on the first quarter, but the logic of long-term growth remains unchanged, and it will quickly resume growth after the epidemic.