Development and operation of cultural tourism resources
1. Wanda signed a contract with Shenyang and plans to invest another 80 billion yuan in the construction of large-scale cultural tourism projects
On May 15, the Shenyang Municipal Government and Wanda Group signed a comprehensive strategic cooperation agreement. Wanda Group will invest another 80 billion yuan in Shenyang on the basis of the completed investment of 25 billion yuan to build world-class large-scale cultural tourism projects and international hospitals. , international schools and 5 Wanda Plazas. Among them, the large-scale cultural tourism project covers an area of 4,000 mu, including cultural tourism city, sports park, resort hotel group and so on.
New Tourism Research Institute’s point of view: Shenyang is the only city in Northeast China that has been shortlisted as a national central city. With the support of the Northeast Revitalization Strategy, its economic development has shown a good trend of stabilization and recovery. In 2018, its GDP reached 629.24 billion yuan, with a growth rate of Up to 8.78%. In recent years, Shenyang has also continued to create an international business environment, attracting investment from leading companies in various industries. In terms of cultural and tourism projects, large real estate companies such as Wanda, Evergrande, China Resources, and China-Hong Kong Real Estate have settled in one after another. Among them, Evergrande signed a contract to invest 100 billion yuan in the cultural and tourism industry in 2018. Currently, there are three asset-heavy projects in Shenyang, Evergrande Children’s World, Evergrande Health Valley in Shenfu New District, and Evergrande Football Town. Wanda’s recent successive investment moves seem to be catching up with Evergrande.
Judging from the characteristics of the projects signed this time, the group layout of cultural tourism, medical care, and education reflects Wanda’s new ideas for strategic development to a certain extent. Cultural tourism consumption is relatively low-frequency and low-viscosity selective consumption. On the other hand, medical care and education are high-viscosity just-needed consumption and indispensable life services. Combining cultural tourism consumption and life services to achieve mutual integration and mutual promotion may create new industrial models and economic benefits. This attempt by Wanda deserves attention.
In addition, recently, we have seen the rapid development of Wanda Group in the field of cultural tourism. In addition to the projects signed in Shenyang this week, the Yan’an Wanda project, Lanzhou Wanda project, and Chaozhou Wanda project have landed one after another. According to incomplete statistics, the other The total investment has reached 157 billion yuan, which reflects Wanda Group’s confidence in the development of the cultural tourism industry and its determination to reshape the cultural tourism territory. However, it is worth noting that at present, Wanda card slots are all secondary regional destinations, basically bidding farewell to economically developed regions such as the Yangtze River Delta and Pearl River Delta. Although the competitive pressure in these regional markets is low, there are deficiencies in terms of market customer base, regional transportation, and manpower allocation, which will bring considerable market challenges to the development of Wanda’s cultural tourism industry in the future. Under the new development pattern of the cultural tourism industry, we will continue to pay attention to whether Wanda Group can achieve greater glories.
2. Hainan 123 Venture Capital Group invested 3.9 billion yuan in Fangchenggang March 3 Cultural Tourism Resort
On May 16th, Fangchenggang City and Hainan 123 Venture Capital Group signed a Guangxi March 3 Cultural Tourism Resort project development agreement at the signing ceremony of a major cultural tourism project in the Border Tourism Experimental Zone. The Guangxi Sanyuesan Cultural Tourism Resort project plans to invest 3.9 billion yuan to build Na Cultural Theme Park, March 3rd Square, ASEAN Ten Countries Theme Park, Parent-Child Paradise, Tanpeng Heritage Park and other sub-projects.
New Tourism Research Institute’s point of view: After nearly 40 years of reform and opening up, border tourism has gradually become one of the three major inbound and outbound tourism markets alongside outbound tourism and Hong Kong, Macao and Taiwan tourism. In April 2018, the State Council agreed to establish the Manzhouli Inner Mongolia and Fangchenggang Border Tourism Experimental Zones in Guangxi to further promote the development of border tourism at the policy level. On the one hand, border tourism can attract a large number of domestic tourists and strengthen the connection between inland areas and border areas; . With the further relaxation of my country’s border tourism policy, the favorable economic form and the stability of the surrounding environment, border tourism will have a broad space for development.
Fangchenggang City is a border city and a port city. It plays an important role in the China-ASEAN Free Trade Zone and the Pan-Beibu Gulf Regional Cooperation. Natural landscape. Since the establishment of the Fangchenggang Border Tourism Experimental Zone in April 2018, policy dividends have been continuously released, the efficiency of tourism customs clearance has been greatly improved, and cross-border tourism and border tourism have developed rapidly. Among them, the number of people entering and exiting Dongxing Port in 2018 reached 12.19 million, and China-Vietnam cross-border tourism received a total of 2.9321 million people. In the future, the continuous development of cross-border tourism and border tourism in Fangchenggang City will create a considerable source of tourists for the project. At the same time, the Fangchenggang Border Tourism Experimental Zone is also constantly promoting the construction of comprehensive service facilities for border tourism, standardizing the tourism market environment, and introducing industrial guidance policies, which will create a good development environment for the project.
Hainan 123 Venture Capital Group, the investor of this project, was established in November 2017 with a registered capital of 15 million yuan. According to the existing public information, the company has no benchmark projects in the investment and construction of cultural tourism projects. It can be considered that the company still lacks successful experience in cultural tourism project construction, operation management, and capital operation. These will be the risk factors of this project. In addition, judging from the information released so far, the content of the project is relatively scattered, and the theme features are not clear. There may still be many variables in its future development.
Cultural tourism distribution and service
3. The healthy lifestyle service platform “Deep Dive” received tens of millions of yuan in Series A financing
On May 12, DeepDive, a healthy lifestyle service platform established in 2018, announced that it has completed tens of millions of yuan in Series A financing. The investor is Cornerstone Capital, with a post-investment valuation of more than 500 million yuan. In 2019, Deep Dive launched the core online platform – “RockRow” App, which has launched rowing machine introductory tutorials, mileage rankings, data analysis, event information, etc., and will soon launch sports social networking and team competitions Function. At this stage, the business model of Shendi mainly includes three levels: one is the education business of Shendi, and its products cover Shendi Academy (entrepreneur training courses) and Shendi Junior Class (training courses for teenagers); the other is the water sports base, Team building and education services for enterprises and individual users, and the third is the operation of offline rowing events.
Viewpoint of New Travel Industry Research Institute: Deep diving originated from the overseas training camp for entrepreneurs initiated by entrepreneur Wang Shi, calling on everyone to “dive deeply” and immerse themselves in the local society and culture. The main activity is rowing. Rowing is a niche sport, and the cost of acquiring customers is relatively high. Without any marketing promotion, the “RockRow” APP of Deep Dive has more than 1,000 users, mainly due to the huge popularity of the founder Wang Shi in the industry. influence and pooling of resources. In 2018, Deep Dive trained more than 15,000 people in various rowing clubs across the country, and helped more than 30 companies and institutions establish rowing teams.
At present, the company that is on the same track as Deep Dive is the rowing service provider New Boat Sports that completed the A round of financing in June 2018. New Boat Sports cooperates with national rowing waters, independently operates IP events, and provides rowing industry planning consulting, education and training, overseas study tours, clubs and other services. Compared with competitors such as New Boat Sports, Deep Dive has the following advantages: 1) The influence and resource gathering ability of the founder Wang Shi; 2) The nationwide offline layout, formed in education, bases, clubs and event business 3) The positioning of the healthy lifestyle platform.
At this stage, Shendian has 5 deep diving centers and 14 cooperative rowing clubs across the country, and has become China’s largest operator of water sports centers covering the whole country and the leader of rowing sports. According to reports, the company has been able to produce blood on its own. In 2019, the sales revenue of Deep Dive from January to April increased by 409% compared with the same period last year. The entrepreneur training expenses from the Deep Dive Academy and the number of club base members have achieved rapid growth.
Founded in 2008, Co-Stone Capital, the investor of this round of financing, is an earlier venture capital institution in China. Both the sports and education industries are huge markets with a scale of trillions. In the Internet age, the traditional industrial model is being deeply restructured. The main reason for attracting cornerstone investment is to explore the broad track, innovative model, and solid business foundation.
It is understood that after this round of financing, Shen Qian will provide users with a full range of health services such as sports social networking, health management and knowledge payment online, forming an online and offline linkage platform to further expand the audience and conversion rate. In addition, Shen Qian has begun to promote cooperation with domestic first-line consumer electronics manufacturers in smart hardware products, and smart hardware products will be a growth point for its business. At present, there are not many vertical service platforms in the subdivision of cultural tourism in China. We believe that Shendi has the potential for sustainable development, and its prospects are worth looking forward to.
Cultural tourism capital market
4. Tianmu Lake once again used idle raised capital to replenish working capital
On May 14, Jiangsu Tianmu Lake Tourism Co., Ltd. (Tianmu Lake: 603136) announced that it will use no more than 150 million yuan of idle raised funds to temporarily replenish working capital for a period of no more than 12 months. This is already the second time that Tianmu Lake has used idle raised funds to replenish working capital. Previously, Tianmu Lake had used 188 million yuan of raised funds to temporarily replenish working capital starting in July 2018. This part of the funds had all been returned to the special account for raising funds on the 7th of this month.
New Tourism Research Institute’s point of view: Tianmu Lake was listed in September 2017. A total of 20 million shares were issued in the IPO, raising funds of 393.6 million yuan, and a net fund of about 360 million yuan was obtained after deducting the issuance expenses. The raised funds are planned to be used for the comprehensive project of Tianmu Lake cultural performing arts and tourism supporting construction, the second phase project of Yushui Hot Spring and the repayment of bank loans. The idle raised funds for this replenishment come from the 181 million yuan that Tianmu Lake announced in May 2018 to suspend the “Comprehensive Project of Tianmu Lake Cultural Performing Arts and Tourism Supporting Construction”. For idle raised funds, Tianmuhu successively purchased principal-guaranteed wealth management products in October 2017, and temporarily replenished working capital in July 2018.
Although Tianmu Lake has planned to use the remaining raised funds of about 181 million yuan for the supporting cultural and tourism projects and the benefits brought by interest and cash management for the second phase of the Yushui Hot Spring Project, the total investment in the project will be reduced from the originally planned 66.3107 million yuan. Increased to about 240 million yuan. But so far, the second phase of Yushui Hot Spring project has used a total of more than 50 million raised funds. Since the project is a construction project, the full payment will only be made after audits are completed before, during and after construction. It is expected that the raised funds will not be used up until next year, and part of the raised funds will be temporarily idle.
Due to the substantial increase in planned investment and the rapid advancement of the second-phase Zhuxigu project of Yushui Hot Spring, Tianmu Lake’s construction in progress in Q1 in 2018 and 2019 increased by 9.3 million and 10.09 million respectively. New performance growth. In Q1 of 2019, the balance of Tianmu Lake’s cash and cash equivalents at the end of the period was about 260 million yuan, and the cash ratio was as high as 1.32. This time, Tianmu Lake continues to use idle raised funds in order to improve the efficiency of the use of raised funds, reduce financial costs, and further strengthen the main business.
In addition, Tianmu Lake’s 300 million convertible bond application has been accepted by the China Securities Regulatory Commission, and the funds raised will be used for the “Yushui Hot Spring (Phase I) Renovation Project” and “Nanshan Xiaozhai Phase II Project”. These two projects can effectively make up for the shortcomings of Tianmu Lake’s winter products and reduce seasonal fluctuations in business. After the completion of the project, it is expected to further enhance the attractiveness and competitiveness of hotel and hot spring products, and increase the performance of listed companies. The “Nanshan Xiaozhai Phase II Project” is expected to improve the relatively single business format, insufficient nighttime content, and relatively scattered products in the Nanshan Zhuhai area. After the completion of the project, it will promote the overall upgrading of the Nanshan Bamboo Sea area, which will help increase the stay time of tourists and the per capita consumption level. Whether the fundraising project of Tianmu Lake can be successfully completed and bring expected economic benefits, New Travel Industry Research Institute will continue to pay attention.
