“I didn’t expect that，It’s so difficult to book hotels in Hangzhou on weekends，I feel like it wasn’t as popular as in previous years。”

Teacher Huang, who lives in Hangzhou, told the media.

“I originally wanted to book a room for a friend visiting Hangzhou on the weekend，As a result, I asked around，Whether it is two thousand or three thousand one night，It’s still five or six hundred and one night，Basically all rooms are full。”

Like Hangzhou, it is “hard to find a room”，And Sanya。Peak summer vacation、Low-price air tickets plus tax-free catalyst，Let Sanya become the most popular tourist attraction this summer。As understood，It is difficult to book a room for that week in theme hotels that focus on family 188bet online live casino。

Hangzhou、Behind the gathering of tourists in Sanya，It is the "demand replacement" that converts a large number of outbound 188bet online live casino into domestic 188bet online live casino。

Summer peak season、Sanya Duty Free、Surrounding Tour、Fly as you wish，In this “different” tourist season，What are the different characteristics that the long-term 188bet online live casino industry is showing？

Guotai Junan social service team recently released the latest report，shared their latest observations with us。

The outlying island tax-free policy is “additional”, Sanya is hot

Judging from the data of previous years，Summer and National Day，It’s also the peak season for outbound 188bet online live casino。

The overseas epidemic is serious this year，Resulting in restrictions and stagnation of outbound 188bet online live casino，Some domestic high-end tourism products are expected to take over this part of the demand replacement。

Currently, 188bet online live casino to Japan is at a complete standstill

Data source: Japan 188bet online live casino Bureau, Guotai Junan Securities Research

Outbound 188bet online live casino to South Korea is at a complete standstill

Data source: Korea 188bet online live casino Administration, Guotai Junan Securities Research

July 1，Sanya tax exemption policy adjustment，Greatly stimulated tourists’ enthusiasm for shopping in Sanya。

Should say，The tax exemption policy is just a catalyst，People’s long-pent-up 188bet online live casino demand is the reason for the booming market。Plus summer graduation trip、Family-child tour，Add fuel to the market’s recovery。

Sanya is the core destination for high-end vacations in China，Passenger flow in June has recovered to 83% 188bet online live casino period。

As of June 2020，The number of overnight tourists Sanya received in a single month was 122.50,000，83% of the same period in 2019，The number of overnight tourists received in Hainan Province is 355.480,000 people，Recovered to 79% of the same period in 2019。High-end vacation 188bet online live casino products have become an important substitute for outbound demand。

Hainan and Sanya are the core destinations for high-end vacations in China，Passenger flow is recovering rapidly

Data source: Hainan Provincial 188bet online live casino Bureau、Sanya Statistics Bureau、Guotai Junan Securities Research

Peripheral 188bet online live casino, a dark horse during the epidemic

Meanwhile，It is also hard to find a room in nearby tourist resorts like Hangzhou。

From a policy perspective，Inter-provincial long-distance 188bet online live casino for primary and secondary school students，Most education bureaus have adopted no ban、Policy that discourages。

In principle, core provinces and cities do not restrict inter-provincial 188bet online live casino，However, the Education Bureau does not encourage primary and secondary school students to 188bet online live casino across provinces out of caution。After experiencing repeated epidemics, Beijing clearly requires students not to leave Beijing unless necessary；Shanghai is not allowed to leave the country，and reporting is required when crossing provinces，And take personal protection，Teachers require returning to Shanghai 14 days before the start of school；Jiangsu、Hunan Province has made it clear that long-distance 188bet online live casino across provinces is not recommended。

In principle, the core provincial and municipal education bureaus no longer restrict inter-provincial 188bet online live casino，At the same time, it is not encouraged

188bet online live casino: Provincial and municipal education bureaus, Guotai Junan Securities Research

Therefore, many families place their 188bet online live casino destinations in the province or surrounding cities。

Zhang Yang, Brand Director of Hangzhou Kaiyuan Senbo Resort Hotel said，"It is currently the peak summer season，The hotel’s very popular tree house room type is almost fully booked every day。Although the price of the tree house is as high as 3790 yuan on weekends，Still in short supply。From the perspective of customer base，Shanghai above、Jiangsu、Mainly around Zhejiang，As expected, the rooms this weekend are full again。 ”

Major airlines “fly wherever you want” to help improve passenger flow

Since May，Vigorous promotions by 188bet online live casino companies and airlines，Introduced group purchase discounts including hotels、Fly as you like air tickets and many other discounts to promote tourism consumption。

Fly Xpress products launched by mainstream airlines this year，Becoming an important driving force for the release of domestic 188bet online live casino demand during the summer。

Observed from aviation high-frequency data，At the input capacity of 80% for the same period，Airline passenger load factor has returned to 90% of the same period，Although there is still a big discount on the ticket price，But it also reflects that 188bet online live casino activity is steadily increasing。

▼ The passenger load factors of major airlines are steadily recovering，But the fare is still low

188bet online live casino: Civil Aviation Administration of China, Guotai Junan Securities Research

Airlines launch free fly packages to boost domestic 188bet online live casino demand

188bet online live casino: airline official website、Fliggy.com、Guotai Junan Securities Research

Business travelers within 3 days are the main force at this stage

Except for summer vacation market，The prosperity of business 188bet online live casino activities continues to increase steadily，Driven by the continued recovery of demand for business 188bet online live casino accommodation。

Hotel demand is highly correlated with the prosperity of business activities，Exhibited by the high correlation between hotel room night demand and PMI。

PMI continues to improve，The recovery of prosperity of commercial activities drives the urgent need for business 188bet online live casino

188bet online live casino: Wind, Guotai Junan Securities Research

The current demand for hotel accommodation is mainly supported by business 188bet online live casino accommodation, which previously accounted for 60-70%，Business travelers within 3 days are the main demand at this stage。

Business travelers within 3 days are the main demand at this stage

188bet online live casino: Qunar.com, Guotai Junan Securities Research

The post-80s-90s generation has a high proportion of people traveling for work and business trips

188bet online live casino: Qunar.com, Guotai Junan Securities Research

The recovery pace of 188bet online live casino demand is not a blowout，Full recovery expected in 2021

The recovery of 188bet online live casino confidence is a slow process.

After SARS subsided in 2003，Passenger traffic rebounded during the National Day but did not blow out。

In 2003, SARS had the greatest impact from March to June，The later effects will be gradually eliminated

Data source: National 188bet online live casino Administration, Guotai Junan Securities Research

July 9, 2003，The National Tourism Administration issued the "Notice on the Resumption of Inter-Provincial, District and Municipal Tourism and Outbound Tourism Business Activities"，Officially lifting restrictions on cross-regional 188bet online live casino and outbound 188bet online live casino，The society expects a spurt in tourism growth。

But people are still wary of traveling.

National Day in 2003 was less than 3 months away from the peak period of SARS impact，The impact has not been completely eliminated，Although the 188bet online live casino industry rebounded, it showed retaliatory growth - the growth rate of passenger flow during the National Day in 2003、Total 188bet online live casino revenue is 11.5%/13.07%，Lower than previous average growth rate。

Year-to-year analogy，We believe that the recovery of 188bet online live casino after the epidemic also requires more patience。

From the current policy level of various provinces and cities，Relevant entry quarantine measures in various provinces have become normalized，No practical barriers to 188bet online live casino。

Isolation measures for entry into various provinces are normalized, and there are no 188bet online live casino barriers

188bet online live casino: official websites of provincial and municipal governments、Guotai Junan Securities Research

From the 188bet online live casino，Population mobility is resuming，Inter-provincial long-term liquidity is definitely improving month-on-month，Supporting demand。

Refer to the Ministry of Transportation 188bet online live casino as of the end of June，Highway、Railway、Air passenger volume recovered to about 60% of the same period in 2019。

Railway passenger flow returned to 54% 188bet online live casino period in June

188bet online live casino: Ministry of Transport, Guotai Junan Securities Research

Air passenger volume in May recovered to 53% 188bet online live casino period

188bet online live casino: Ministry of Transport, Guotai Junan Securities Research

Highway passenger volume recovered to 57% in June

188bet online live casino: Ministry of Transport, Guotai Junan Securities Research

The waterway passenger flow in June recovered to 54% 188bet online live casino period

188bet online live casino: Ministry of Transport, Guotai Junan Securities Research

We think，The recovery momentum of the 188bet online live casino industry in the future，Mainly from the recovery of consumer confidence，Full recovery expected in 2021。

*188bet online live casino of this article: WeChat public account "Guotai Junan Securities Research" (ID: gtjaresearch)，Original title: "With the epidemic prevention and control, how will the summer 188bet online live casino market be different this year? 》.