Today，Provided by the Institute of Financial Strategy, Chinese Academy of Social Sciences、China Social Sciences Tourism Research Center、The "Tourism Green Paper: Analysis and Forecast of China's Tourism Development in 2017-2018" co-sponsored by Social Science Literature Press was held in Beijing。

According to the "World Tourism Economic Trend Report (2018)" commissioned by the World Tourism Cities Federation and completed by the China Social Sciences Tourism Research Center，In the past 6 years，The compound growth rate of 50 sample tourism listed companies around the world is 14.04%，In line with the growth rate of major capital market indexes during the same period，The market value of these 50 listed tourism companies has doubled in 6 years。Four types of tourism listed companies present different development trends and hot spots。

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In the context of deepening economic globalization，The trend of asset globalization is also deepening，Capital is also extremely active in the hotel industry，M&A integration is frequent。Marriott International successfully acquired Starwood for US$13.6 billion，Accor acquires 30% stake in 25hours Hotels，And establish a strategic partnership with it，Jinjiang International continues to increase its stake in AccorHotels，Become the largest shareholder，HNA Group acquires 25% stake in Hilton Hotel Group for US$6.5 billion，Cross shareholding between Huazhu and AccorHotels，Plateno and Hilton reach strategic cooperation，Marriott signed an exclusive development agreement with China Dongcheng Hotel Group，Hotel giants join forces，Capital United、Brand co-operation has become the future trend of mid- to high-end hotels。In terms of the hotel 188bet online sports betting industry as a whole，The asset-liability ratio has increased year by year in recent years，Decreased asset operation efficiency，Sustainable growth of future revenue is worrying，The hotel group faces an important node of value re-evaluation，This brings opportunities for mergers and acquisitions in the industry。Some hotels with industry-leading advantages have the foresight，Through mergers and acquisitions, we can take the opportunity to achieve transformation，Effectively reduce the debt ratio through asset divestiture or integration、Improve resource operation efficiency，The concentration of capital will bring economies of scale and further reduce operating costs，Increase profit margins，So many hotel groups，From improving business status、Strategic mergers and acquisitions from the perspective of industrial transformation and upgrading or strengthening brand industry status，The formation of an oligarchic leadership pattern in the hotel industry。After the traditional hotel industry continues to experience industry reshuffle，When entering a relatively stable period，Non-standard accommodation shows rapid growth，B&B、RV、Apartment、Different forms of “non-standard accommodation” such as inns have become hot words in the industry。A large amount of capital begins to pay attention to non-standard accommodation，Airbnb, the originator of homestay short-term rentals, is currently valued at US$31 billion after 5 rounds of financing，Other imitators using Airbnb as a template set off a craze for non-standard accommodation，RuTujia、Live at Baijia, etc.。With 80、Post-90s generation continues to reshape tourism market needs，Even Millennials have begun to become a new force in consumption，New consumption trends will become more differentiated、Personalization、Featured，The coming period will undoubtedly be a golden development period for non-standard accommodation，This is also a period when non-standard accommodation gradually forms its own "standards" and "norms"。

Part 2，Traditional travel agencies and OTAs merge 188bet Online Sports Betting and Casino in the game，O2O reshapes the industry landscape。

The rise of OTA has not only impacted the operation of traditional travel agencies，It also injected fresh blood into the travel agency industry。The asset-light operating model makes it more flexible，Strong asset profitability forces traditional travel agencies to seek changes from the outside。Although the OTA market size is growing rapidly，But we also face many difficulties in development，These are the advantages of traditional travel agencies，Destination Services、Accumulated resources and channels、Travel product design and so on are difficult to copy in a short time，In fact, this is enough to constitute an industry barrier。Overall view，Both have advantages in each other，OTA as an online platform，The advantage lies in acquiring users and traffic；The advantages of traditional travel agencies lie in high-quality destination services and the accumulation and control of various resources。So in the future, OTAs and traditional travel agencies will be integrated in the game、The pattern of cooperation amid competition。From the perspective of actual industrial development，Online travel companies such as Priceline and Expedia are accelerating their offline business deployment，Traditional travel agencies such as TUI and Thomas Group are facing impacts，Even experienced layoffs due to business integration，Traditional travel agencies represented by the two are still insisting on deepening their advantageous businesses，Actively explore online development models，The mutual penetration of online and offline is the overall development trend of the travel agency industry。From the perspective of the industrial chain，The front end of the industry chain is users and traffic，Online OTA is a media form in the middle，It is an online trading platform，The resources that will eventually be docked after OTA、Travel service provider。In view of the particularity of the tourism industry，The essence of offline tourism consumption experience cannot be completely online，This characteristic determines that the future of tourism will inevitably develop the O2O model。O2O can 188bet app download transfer resources、Channel、Services connected in series，Form collaborative development。The next stage of O2O development will gradually deepen、Industry segmentation，Companies that can effectively link online and offline resources will surely stand out from the competition。

Part 3，Big transportation has monopoly advantages，Shared travel has become an investment hot spot。

Traditional mass transportation railway、The aviation industry has natural monopoly advantages，Compared to the capital investment of newly entered companies、There are high industry barriers in terms of market share。Specifically，The railway industry is more monopolistic，Existing airlines are competing with multiple parties，But for new entrants，It is not easy to occupy a place。Next few years，Railway operating companies will still rely on their own monopoly advantages，has considerable profitability and growth。As a capital-intensive industry, the aviation industry，The operating conditions of airlines are closely related to the economic cycle and crude oil prices，The recovery of the global economy in recent years and the dividends of low oil prices have created a "happy period" for airline operations，But look at it in detail，The operating conditions of major airlines are still obviously divided，Dazzling profits in North America，While Europe and Asia-Pacific are average，Other regions even suffered losses。Mainly affected by market share and route resources，Competitive landscape and business development of major airlines，Not much will change in the short term。Compared to the monopoly structure of large transportation，Traditional urban transportation under the Internet and sharing economy，Created unlimited business opportunities。Timeshare car rental、Shared bicycle、Real-time taxi hailing can solve the pain points of traditional urban transportation，A useful supplement to public transportation，In comparison, shared travel is more convenient，Better mobility。So Uber、Didi Chuxing、GrabTaxi、Mobike、Companies such as Blablacar came into 188bet app download being。As these companies further occupy and consolidate market share in their fields，And some capital to continue to invest，Companies with first-mover advantages will take the lead and take the initiative，Shuffled and consolidated，Oligopoly will eventually form。

Fourth，Original IP becomes the driving force of theme parks，Diversified operations in the gaming industry。

The theme park + independent IP model has shown sufficient core competitiveness，And because this model can effectively increase the marketing popularity and influence of theme parks in the short term，It can also improve the company’s profitability，So it has become a model that many companies in the industry are eager to imitate and the direction of future theme park development。In the future，Some companies that have independent IP and are compatible with theme parks，has room for long-term growth。Practically speaking，There will be more and more IP cross-border cooperation，Popular movies、Comics、Games and other elements will appear in theme parks of all sizes，Attract corresponding fan groups。The financial crisis has had a huge impact on gaming companies，In the post-financial crisis era, companies are seeking to diversify their operations and seek new profit points，For example, Las Vegas Sands at a conference、Starting layout for exhibitions and hotels；Singapore’s long-term plan for the country’s gaming industry clearly does not focus on casino construction，Instead, the construction covers the convention and exhibition center、Shopping mall、Large casino resort in a theme park；Both Melco Crown Entertainment and Galaxy Entertainment in Macau are actively expanding their catering、Shopping、Entertainment、Leisure "one-stop vacation and leisure" model，Further improve the company’s business structure。

*thisWen LaiSource: China.com, 188bet app download Author: Wu Ce, Yiding, original title: "The market value of the world's 50 listed tourism companies has doubled in 6 years, with a growth rate of over 14%》.