Development and operation of cultural tourism resources
1. With a total investment of 10 billion yuan, the “Bear Infested” town will be located in Linhai, Zhejiang
On May 20, the People’s Government of Linhai City, Zhejiang Province and Shenzhen Huaqiang Group officially signed a project investment cooperation agreement, and the two parties will jointly build a “Bear Infested” town. The “Bears Infested” town project is the first comprehensive leisure and tourism resort town built by Shenzhen Huaqiang Group in the country based on the “Bears Infested” brand and integrating “eat, live, travel, and learn”. “, “Bear Infested World Adventure”, “Extracurricular Learning Camp”, “Carnival Food City”, “Bear Infested Resort Hotel” and so on. The core area of the project covers an area of about 270 mu, with an estimated total investment of 10 billion yuan and a construction period of 24 months.
Viewpoint of New Travel Industry Research Institute: In recent years, Huaqiang Fantawild has continued to deploy across the country, and currently has more than 20 theme parks in Wuhu, Qingdao, Zhuzhou, Shenyang, Zhengzhou, Xiamen, Tianjin, Ningbo, Datong and other places. In the next few years, Huaqiang Fantawild will build and operate 40 parks.
As a technology-supported cultural tourism company, Fantawild has formed a whole industry chain system with cultural and technological theme parks, themed performances, special movies, animation products, film and television productions, and cultural derivatives as its main content and support. In 2018, Huaqiang Fantawild’s operating income reached 4.345 billion yuan, a year-on-year increase of 12.49%. The main sources of income are cultural technology theme parks, cultural content products and services. In 2018, the revenue from creative design and digital animation grew faster, with an increase of 54.3150.09 respectively. Huaqiang Fantawild is gradually shifting to a parallel development model of light and heavy assets.
As Huaqiang Fantawild’s most powerful IP, “Haunted Bear” has become a gold-lettered signboard in the theme park and cultural product service sector. In terms of film and television, the five “Bear Infested” animated films have received a total box office of nearly 2 billion yuan. In terms of derivatives, there are more than 20 types of products on the market, and there are more than 20,000 kinds of bears. At the same time, Huaqiang Fantawild not only uses the “Bears Infested” IP in theme park projects, but also tries to combine it with other large-scale projects to fully tap the extended value of “Bears Infested” IP.
Compared with Huaqiang Fantawild’s previous theme park projects, the “Bear Infested” town project signed this time has a more complex business format and industrial chain structure, higher requirements for the introduction of IP and content creation, and more reliance on consumer products income. Therefore, how to export high-quality products around the “Bear Infested” IP and increase the proportion of secondary consumption in this project will become Huaqiang Fangte’s biggest challenge. At the same time, this project will expand the field of Huaqiang Fantawild’s IP monetization. Once successful, the “IP Cultural Tourism Town” model is likely to be replicated in other places to further improve Huaqiang Fantawild’s theme-based IP-centric “creation, research, production, and sales” “Industrial ecology.
It should be noted that Huaqiang Fantawild also lacks stamina in IP creation. Some traditional culture and ancient style IPs currently introduced are insufficient in hematopoietic ability, and there are no other IPs of the same magnitude as “Bear Infested”. “Haunted” is more difficult for a star IP to support the expansion of its market territory. Therefore, how to create a diversified star IP like Disney will be a problem that Huaqiang Fantawild needs to solve for its sustainable development.
2. With a total investment of 200 million yuan, the Ocean Theme Park of Chengcheng Mall will land in Pingdingshan
It was reported on May 21 that Yiwu Commercial City, located at the intersection of Ping’an Avenue and Sikuang Road in Pingdingshan City, will be renamed as Qincheng Mall, and will be fully taken over and transformed by Shanghai Kaizhi with an investment of 200 million yuan to create the only ocean-themed cultural tourism in Pingdingshan. city. After the completion of the Orange Mall, it will have the largest marine theme park (aquarium) in Pingdingshan, the largest indoor cute pet forest theme park, as well as many experiential leisure places such as children’s playground, gymnasium, swimming pool, karaoke, live CS, rock climbing, etc. , as well as many themed leisure shopping blocks such as large supermarkets, home appliance chain stores, ocean-themed restaurants, and high-end brand areas. Qincheng Mall has also planned an ocean-themed hotel of more than 10,000 square meters, with marine culture and marine life as the core, to create the most personalized ocean-themed cultural tourism hotel in Pingdingshan.
New Tourism Research Institute’s point of view: In recent years, as a marine theme park integrating marine life display, marine animal performances, environmental education, marine science popularization, and marine culture communication, it has been popular in the market and favored by tourists. According to the “2018-2024 China Ocean Theme Park Market In-Depth Survey and Investment Prospect Analysis Report” released by Zhiyan Consulting, in 2017, the number of tourists in China’s ocean theme parks reached 62.5 million, and the revenue scale was 7.407 billion yuan. There are about 106 themed ocean parks in my country, covering more than 20 provinces, autonomous regions and municipalities, and the overall industry has grown steadily.
Judging from the content of the Chengcheng Mall project, it includes tourism service formats such as aquariums, cute pet forest theme parks, hotels, and life service formats such as large supermarkets and home appliance chain stores, realizing the organic integration of tourism formats, commercial spaces, and life scenes. Through the group play of “tourism and life”, the combination of high-frequency consumption and low-frequency consumption is realized, and the coverage of the entire customer group is realized, which is innovative in business format and business model.
Pingdingshan City, where the project is located, is located in the Central Plains. At present, there are few theme park projects, and there are no marine theme park projects. The overall market competition is relatively small. However, the economic foundation of Pingdingshan City is relatively weak, and the consumption capacity of the source groups is relatively limited. From the perspective of project location, there are advantages and disadvantages. The project investor, Shanghai Kaizhi Real Estate Agency, is a real estate company mainly engaged in real estate consulting and real estate brokerage, with a registered capital of 5 million yuan. According to public information, the company has no project experience in the cultural tourism business, and there may be certain risks in project operation and management in the future.
Cultural tourism distribution and service
3. “Bee TV”, a short video platform for agricultural knowledge marketing, completed nearly 10 million yuan in financing
It was reported on May 25 that the short video platform “Bee TV” for agricultural knowledge marketing has completed nearly 10 million yuan in strategic financing, invested by Dingfeng Travel Investment. After this round of financing, Bee TV will increase investment in marketing, IT R&D and team building. “Bee TV” is launched by the agricultural SaaS service platform “Xinnongbao”, and its development and operation company is Shenzhen Chaoqun High-Tech Co., Ltd. At present, Bee TV has launched the WeChat Mini Program, and the video content is distributed on platforms such as Pear Video, Douyin, Volcano Video, Youku, and iQiyi.
New Tourism Research Institute’s point of view: Xinnongbao was established in 2015. At the beginning of its business, it focused on promoting the development of agricultural informatization, and its main business is agricultural e-commerce. At the end of 2015, the company received 100 million yuan in Series A financing led by Yunrun Capital, followed by Yunchuang Capital, Jianrong Fund, and Venxu Investment. At the beginning of 2017, Xinnongbao gave up its e-commerce business and transformed into an agricultural SaaS service provider, and obtained 20 million yuan in Series A financing. The investors were Quark Capital and Jiazi Qihang.
The Bee TV platform launched by Xinnongbao produces short videos of PGC’s agricultural knowledge by contracting agricultural technology experts, and makes profits through marketing implantation for agricultural materials enterprises. At present, there are two business lines of Honeybee and Honey Village developing simultaneously. Honeybee is a 2B business when the platform started, and its core points are marketing tools and content marketing based on agricultural knowledge. Honey Village is the business that the platform will promote in the next step. It will be a vertical content community and communication channel that sinks to the village level.
The highlights of the development of Bee TV are that, first, it has chosen agriculture, an industry track with insufficient informatization. Under the impetus of the current rural revitalization policy, the agricultural industry will usher in a better development prospect, especially its energy and culture. The tourism industry is well integrated, and development models such as pastoral complexes are also being rolled out across the country. The development of agricultural, cultural and tourism industry projects will have a better prospect; the second is to grasp the current better-developed field of video media , information dissemination through video has a better effect on agricultural practitioners and industry and service recipients than other media.
The investor of this round of financing, Dingfeng Tourism Investment (Beijing Davos Dingfeng Tourism Investment Management Co., Ltd.), was established in 2002 and is the core enterprise of Beijing Dingfeng Zhiye Tourism Culture and Creative Co., Ltd. Summit Travel Investment has now become a well-known comprehensive tourism investment and operation service provider in China. The investment in Bee TV shows that Summit Travel Investment will pay attention to related businesses in the agricultural field. industry direction. The agricultural cultural tourism project will be the business content of both the investor and the investee.
4. Mafengwo completed a new financing of US$250 million led by Tencent
On May 23, Mafengwo announced the completion of a new round of financing of US$250 million. This round of financing was led by Tencent, with participation from General Atlantic Capital Group, Qiming Capital, Yuantai Evergreen Fund, NM Strategic Focus Fund under Lianchuang, and eGarden ventures. Chen Gang, founder of Mafengwo, said, “Mafengwo will continue to attract outstanding talents and expand market investment. In the next one to two years, we will strive to become China’s largest travel traffic platform and achieve an IPO.”
New Travel Research Institute’s point of view: Mafengwo is an Internet travel content platform, especially focusing on the production and sharing of UGC strategy content. With the rapid development of the free travel and outbound travel market, its content volume and user scale have achieved explosive growth, and it also has a large number of loyal users. “Content traffic monetization” is the main business model of Mafengwo.
At present, Mafengwo has achieved a closed business loop from community to e-commerce, from content to transactions. The growth rate of online booking GMV has exceeded 100 for four consecutive years. Given the huge consumer groups in China’s cultural and tourism market, its development potential is still huge. With the help of Tencent, Mafengwo has reached a strategic cooperation with Tongcheng-Elong before financing. The two parties will combine their respective advantages to create a closed business loop from content strategy to one-stop travel, forming business complementarity and user sharing.
Through this round of financing, on the one hand, Mafengwo can further improve its content service and reservation service capabilities with the help of capital; user traffic, further expand the advantages in content and community, and use Tencent Cloud’s multi-field collaboration capabilities to empower its own tourism supply chain and gradually realize the IPO. For Tencent, after deploying Tongcheng-Elong, Mafengwo will further consolidate its strategic layout in the field of cultural tourism, and its massive traffic will have more cash channels. In the future, the independent listing of Mafengwo will also bring high returns on investment to Tencent.
Cultural tourism capital market
5. Guilin Tourism once again transferred the equity of Fengyuyan Scenic Spot
On May 21, Guilin Tourism (000978.SZ) issued an announcement announcing the fourth transfer of 51 rights and creditor’s rights of Guilin Lipu Fengyuyan Tourism Co., Ltd. (Fengyuyan Company), with a listing price of 76.021 million yuan. This is already the fourth time since November 2018 that Guilin Tourism has tried to list and transfer the equity of Fengyuyan Scenic Area. On November 6, 2018, Guilin Tourism announced that it intends to transfer the 51 rights of Fengyuyan Company and the company’s (including subsidiaries) creditor’s rights held by the Beibu Gulf Property Rights Exchange through public listing. The initial listing price is 93.8531 million yuan. The base price of the listing is 8,176.021 million yuan of the initial listing price).
New Travel Industry Research Institute’s point of view: Guilin Tourism is the first listed tourism company in Guangxi, and it is also a state-owned listed company that focuses on scenic spots among listed tourism companies in the country. Fengyuyan Scenic Spot is one of the core tourism resources of Guilin Tourism . According to the 2018 financial report, the revenue of Guilin Tourism was 573 million yuan, a year-on-year increase of 3.02. The net profit returned to the parent after deducting non-existing expenses was 75 million yuan, a substantial increase of 3.727 billion yuan. A total of 8.9372 million tourists were received, a slight year-on-year decrease of 1.43. Overall, The operating performance of Guilin Tourism is stable and improving, but its 11 subsidiaries, 7 of which have negative net profits, and a total loss of approximately 52.9058 million yuan. Among them, the net profit of Fengyuyan Company was -9.412 million yuan, and the loss increased by 115.8% compared with the same period last year. A total of 122,500 tourists were received, a year-on-year decrease of 12.44%. million yuan, with a net profit of 3.58 million yuan, which shows that its operating conditions have declined significantly.
Guilin Tourism has repeatedly cut prices to seek to sell Fengyuyan Company. In addition to operating losses, another important reason is that Fengyuyan Company is already insolvent. As of December 31, 2018, Fengyuyan Company’s total assets were 73.7632 million yuan, while its liabilities were as high as 100.3967 million yuan, and its net assets were -26.6335 million yuan. Its liabilities were mainly other payables, and all of them were Guilin Tourism and Liabilities of other subsidiaries. Guilin Tourism disclosed in its financial report that other receivables of Fengyuyan Company were as high as 81.6824 million yuan. It can be seen that the sale of the equity and bonds of Fengyuyan Company is already the development need of Guilin Tourism to revitalize its assets and optimize its asset structure. However, judging from the reaction of the capital market, Fengyuyan Company is not a high-quality asset worth taking over. Whether it can be sold in the end and at what price will be sold, and the New Lvjie Research Institute will continue to pay attention.
6. The mid-end hotel brand SSAW has hit the A-share IPO
It was reported on May 24 that Zhejiang SSAW Hotel Management Co., Ltd. (SSAW), a mid-end hotel brand and NEEQ hotel company, has officially submitted an IPO application to the A-share GEM, planning to leave the NEEQ and enter the GEM. According to the information disclosed in the prospectus, Junting Hotel plans to raise 344 million yuan, which will be used for the design and development of mid-to-high-end hotels and the construction of a comprehensive management platform ( related reading ).
Viewpoint of New Travel Industry Research Institute: SSAW Hotel was established in September 2015; in March 2016, it was listed on the New Third Board just half a year after its establishment; in February 2017, SSAW Hotel started IPO counseling. Today, just three full years of financial data are available and the company is applying for listing. It can be seen that Junting Hotel has already made a comprehensive plan at the beginning of its establishment, and strives to seek rapid development through listing.
According to the prospectus of Junting Hotel, it currently has 36 hotels in operation, and 19 hotels have signed contracts to open. According to statistics from the China Tourist Hotel Association, SSAW Hotel ranked 48th among the 60 largest hotel groups in China in 2017; in 2018, SSAW ranked 44th among the scale rankings of China’s hotel groups. In terms of performance, in 2016, 2017, and 2018, its revenue was 313 million yuan, 322 million yuan, and 341 million yuan, respectively, and its net profit was 36.16 million yuan, 58.5 million yuan, and 56.07 million yuan. The operating conditions are good.
Although there are quite a few hotel companies currently active in the capital market, almost none of them start their business by relying on mid-end hotels or rely on mid-end hotels as their main source of income. The core revenues of BTG Hotels, Jin Jiang, Huazhu, and GreenTree Inn are still budget hotels; New Century Hotels are positioned as high-end brands, and Fosun Tourism’s main revenues come from Club Med Resort and Atlantis Sanya. Mid-range brands are still in their infancy and development stages. If the IPO of Junting Hotel is successful, it will become the first mid-end hotel brand in China to land on the main board market, and with the help of capital, it will also enter the rapid development channel.
