The copying model of 188bet best bookmaker in tourist destinations seems to be unsatisfactory。November 28，The reporter learned from the Hainan Provincial Tourism Development Committee，Since the group fares of most tourist and performing arts venues in Hainan Province are far lower than the individual fares，Suspected of illegal rebates to travel agencies and tour guides，Decided to withdraw 8 tourist performing arts venues that have been included in the management of the electronic itinerary service platform from the electronic itinerary service platform database，Among them，Sanya Eternal Love Tourism and Performing Arts Co., Ltd. (hereinafter referred to as "Sanya Eternal Love"), a subsidiary of 188bet best bookmaker, is "on the list"。Industry analysts say，This time Sanya Eternal Love was ordered to withdraw from the electronic itinerary platform due to suspected violations，To a certain extent, it reflects the management shortcomings of 188bet best bookmaker after its rapid expansion。At the same time，188bet best bookmaker is also facing product upgrades、Multiple pressures such as operational upgrades，The road to upgrade is not smooth。

Ordered to make corrections

Starting from 2013，Hainan Province establishes a 188bet best bookmaker electronic itinerary management system，Complete all elements of travel team operation、Real-time monitoring and management of the entire process。Require travel agencies to arrange travel group itineraries，Travel contract must be secured、Entrustment Contract、The electronic itinerary is consistent with the actual itinerary，Only allow booking information based on system，Sell group tickets based on the itinerary number and related information automatically generated by the system。

In the latest "Decision on Exiting Tourism 188bet best bookmaker Venues from the Management of Tourism Electronic Itinerary Service Platform" issued by Hainan Provincial Tourism Development Committee，Because the group ticket price is much lower than the individual passenger price，Suspected violations，Hainan Provincial Tourism Commission decided to take effect from November 25, 2017，Exit 8 tourist 188bet best bookmaker venues that have been included in the management of the electronic itinerary service platform from the electronic itinerary service platform database，Including the eternal love of Sanya。This move means，The tour group is temporarily unable to bring group tourists to watch。

According to an industry insider who did not want to be named，The ticket price of tourist 188bet best bookmaker products on the market is generally two to three hundred yuan，But some are sold to travel agencies for only a few dozen yuan，The rest of the price difference becomes the travel agency’s profit。For travel agencies，Tour guide’s rebate、The profits of tourism products also depend on this link。

The newly revised "Hainan Province Tourist Attractions Management Regulations" in 2016 clearly stated，Indiscriminate group tickets are implemented in tourist attractions，The group fare discount shall not be higher than 20% 188bet best bookmaker individual passenger fare，Group fares should be indicated on the scenic spot price signboard。According to Hainan Provincial Price Bureau，The group fare discounts sold at tourist attractions are 20% higher than those for individual travelers，A fine of 20,000-200,000 yuan will be imposed。

Requirements of Hainan Provincial Tourism Commission，Relevant cities and counties are based on the "Access and Exit Conditions for Electronic Itineraries of Hainan Province Tourist Performing Arts Spots"，Guide local performing arts enterprises to operate in accordance with the law，Serious rectification。After the rectification is completed，Preliminary review by city and county，Provincial Tourism Commission review，We will gradually incorporate qualified tourist performing arts spots into the management of the electronic itinerary service platform。In response to this matter，Reporters from Beijing Business Daily tried to contact 188bet best bookmaker for many times，No one answered the phone。

Single IP

It is not difficult to see the investment layout of 188bet best bookmaker in the past two years，188bet best bookmaker is shifting from a heavy asset model to a rapid expansion of "resource integration + light asset output"。

In recent years，Relying on the physical expansion model of “physical paradise + tourism and performing arts”，188bet best bookmaker improved the "Eternal Love" performance by combining it with local culture，Landed in Sanya、Lijiang、Jiuzhai and other places，quickly occupied several first-line tourist attractions in China。This kind of model replication seems to have better operability and considerable profits in 188bet best bookmaker。According to annual report industry income data，188bet best bookmaker’ live performance revenue accounts for 51% of the total revenue.84%。

Afterwards，The expansion of the second phase of the "Eternal Love of Mount Tai" and the Wuyi Mountain project was not successful，And stated in the 2016 annual report that it decided to terminate the Taishan Grand Theater contract and the Wuyishan project。As understood，The Wuyishan project is far away from the core scenic area due to its location，Look at the Taishan project from the annual report，The revenue of Taishan Qianguqing Theater in 2016 only accounted for 0% of the total revenue.14%，And the income has been 360 for two consecutive years.250,000-361.Low run of 20,000 yuan。These setbacks reflect the challenges that 188bet best bookmaker’ original asset-heavy model encountered during its nationwide expansion。

Some opinions，“Eternal Love” is too thin in content、Too grounded，Even criticized for being a bit rustic，Huang Qiaoling, chairman of 188bet best bookmaker, once laughed at himself as "not comparable to Zhang Yimou"。

In addition to "Eternal Love", the content needs to be upgraded，Over-reliance on this single IP is a bigger problem。Pan Yan, Secretary General of China Performance Industry Association, thinks，“The most famous place for touring performances is Las Vegas，The content of their performance is very rich，Not just showing local culture，Visitors account for 50% of the audience。This explains，Shows in Las Vegas are not just for attracting tourists，Promote 188bet best bookmaker，Its long-lasting success is based on the content and high quality of diverse performances”。

Industry expert advice，Performance content must be combined with the latest information and communication technology，Continuously innovate，Formation in line with the growing middle class、Cultural products for the aesthetic needs of Millennials with strong spending power。In addition，Too many light asset projects also require the investment of a large number of operation teams，The lack of talent is still an upcoming challenge for Songcheng’s 188bet best bookmaker。

Stable income to be tested

In Operations，Songcheng’s performing arts also need to be upgraded。2015，188bet best bookmaker acquired six rooms at a high price of 2.6 billion yuan，This is its largest foreign investment since its listing。The senior management team of Liujianfang promises that the net profit from gambling from 2015 to 2018 will be 1.5.1 billion yuan、2.1.1 billion yuan、2.7.5 billion yuan and 3.5.7 billion yuan，Performance growth rate reached 40% in the next three years、30% and 30%。In other words，The average annual compound growth rate of Liujianfang’s net profit in the four years from 2015 to 2018 will reach 33.22%。If the actual profit is lower than the promised value，The party obligated to compensate will compensate 188bet best bookmaker。

Judging from the statements 188bet best bookmaker past two years，Six Rooms exceeded its promised profit target，Net profit in 2016 is 2.3.5 billion yuan。The proportion of revenue in the consolidated statement has exceeded 40%，At the same time, it also led to a sharp increase in Songcheng’s stock price。However，Founder of Zai Jingjian Think Tank、Chief Analyst Zhou Mingqi’s opinion，Short-term success does not necessarily mean long-term stable returns。

Zhou Mingqi’s analysis，Fierce competition in the Internet live streaming industry，Liujianfang is one 188bet best bookmaker earliest live broadcast websites in China，No special core advantages，The reason why we can achieve better profit performance is that we are right at the center 188bet best bookmaker rapid growth 188bet best bookmaker industry。As competition intensifies，It is doubtful whether high profits can be maintained for a long time。Secondly，The excessive valuation makes it risky to recover the investment。Based on 2016 net profit，The price-to-earnings ratio 188bet best bookmaker purchase price is 11 times，Can Six Rooms really maintain a good development momentum for ten years？

188bet best bookmaker established a wholly-owned subsidiary Songcheng in November 2016(Australia)EntertainmentPTYLTD，Construction of the Australian Legendary Kingdom Project on the Gold Coast of Queensland, Australia，Started the first step toward internationalization。In addition, according to Songcheng’s announcement，The company also plans to launch in the United States、Europe、Project implementation in Southeast Asia。Zhou Mingqi pointed out，For a tens of billions company，International allocation of assets is the inevitable way。But European and American culture、Concept、Style、The preferences are completely different from those of the Chinese，It is very questionable whether the successful experience of domestic performing arts is applicable。Just like many foreign giants who are not accustomed to the local environment when they enter the country，It is not uncommon for domestic companies to fail in their overseas investments。

*Source of 188bet best bookmaker article: Beijing Business Daily, author: ShuZhijuan, original title: "The rapid expansion of 188bet best bookmaker exposes management shortcomings》.