As a cultural and 188bet app industry operator，We all look forward to moving forward on this、Every major event in the ever-changing cultural and 188bet app era、Every key node，Have more understanding，Know its transformation、Hot and cold and trends。

here，Zhihui coordinates and analyzes the latest trends in cultural 188bet app during the week，Trying to find from these living elements the latest events or information in each field that are worth recording，Based on a certain framework、Perspective or Dimension，Let’s explore what they bring to the development of the cultural 188bet app industry，The value points brought to us。

Cultural 188bet app Review【Week 95】，Cultural and 188bet app frontline information，In-depth analysis of the week。

Quotes of cultural and 188bet app giants

(Follow the "Zhihui" public account，Reply 188bet app background to "Benefit Review Issue 95"，Full version available)

Continue to pay attention to the report cards of listed travel companies 188bet app first half of this year，Focus on several leading companies。

Zhongxin Travel、Caesar Travel continues to suffer losses，Among them, Zhongxin’s net profit in the first half of this year was -1.2.3 billion yuan，30 year-on-year increase.29%，Caesar’s net loss in the first half 188bet app year 1.6.9 billion yuan，Down nearly 50% year-on-year。

That is, both companies are still losing money，But the loss was less than last year。Inbound and outbound travel has not resumed yet，is the main reason。It can be found from more specific data 188bet app two，The current situation and risk resistance capabilities of both parties (especially the risks of cross-border travel) are different。

Zhongxin Semi-annual Report Display，its revenue 2.9.3 billion yuan，Decreased by 75% year-on-year.96%，including travel retail、The two 188bet app wholesale businesses have revenue of 0.6.3 billion yuan、0.6.5 billion yuan，Respectively decreased by 71 year-on-year.73%、 92.86%。At the same time，Integrated marketing business revenue 1.6.1 billion yuan，111 year-on-year increase.22%。

Caesar’s revenue 188bet app first half of this year mainly comes from the catering business、Travel services and food and beverage business，2 respectively.6.8 billion yuan、2.3.9 billion yuan、0.4.4 billion yuan，increased by 42 year-on-year respectively.65%、-64.96、100%。

The relative diversification of Caesar’s business，Making it a bigger part of the revenue，Plus earlier layout in the domestic 188bet app market，It also makes its 188bet app service segment revenue relatively higher，Moderately weakening dependence on cross-border 188bet app market。At the same time, Caesar’s other businesses besides 188bet app services，There is still room for further expansion in the domestic market。This is also the merger of Caesar and Zhongxin，One of the reasons why the latter is in a more passive position。

Both parties recently issued announcements，The planned merger is still in progress，But there is still uncertainty，The attitude 188bet app regulatory authorities is a main reason。

In comparison, the following three companies are all profitable.

Tongcheng Yilong semi-annual report display，Its income 188bet app first half of this year is 37.500 million yuan，70 year-on-year increase.1%；Adjusted net profit 6.900 million yuan；

OCT A’s revenue 188bet app first half of 2021 230.1.4 billion yuan，34 year-on-year increase.41%；Net profit 23.6.6 billion yuan，15 year-on-year increase.09%；

Songcheng Performing Arts’ revenue in the first half 188bet app year 7.3.5 billion yuan，159 year-on-year increase.66%；Net profit attributable to parent company 3.7.8 billion yuan，849 year-on-year increase.43%。

Let’s focus on the situation of Tongcheng Yilong，Since the outbreak，Among OTAs and many travel companies，Tongcheng’s performance has always been relatively outstanding，For example, profitability，There are cost reduction factors，But revenue guarantee is also fundamental。Tongcheng’s performance，It can be one of the important entrances to observe the trendy sinking 188bet app。

Under the influence of the epidemic，The demand for leisure vacations in the 188bet app market of domestic first- and second-tier cities is relatively high，The demand for 188bet app consumption in lower-tier cities continues to increase，It also constitutes a basic factor for the recovery of the domestic 188bet app market。

Tongcheng’s second quarter data this year revealed a lot of information。The number of domestic hotel room nights 188bet app second quarter increased by more than 65% compared with the same period in 2019，Among the lower-tier cities, the growth rate has more than doubled；At the same time，Domestic air ticket volume、Bus ticket volume compared to the same period in 2019，an increase of nearly 30% respectively、Over 270%。

There is Qingming in this、Dragon Boat Festival、Consumption increased during the three "May Day" holidays，It also has a supporting role in sinking 188bet app flow。One of the details is，The number of same-trip bus tickets has increased significantly，There are several factors: automobile travel has a large space in the sinking 188bet app，But the online rate is low，Tongcheng has carried out certain digital supply chain transformation in this 188bet app、infiltration，Plus the epidemic promotes contactless、Online ticket purchase。

The support behind it is naturally WeChat traffic。July this year，Tongcheng renews cooperation agreement with Tencent，Guaranteed the traffic advantage in the sinking 188bet app，Will last for several years，And during this period，Can Tongcheng moderately reduce its dependence on WeChat traffic，Seeking and establishing more traffic channels，And strengthen and expand business advantages in lower-tier markets，will be some of the main factors that determine its future growth space。

After talking about traditional 188bet app companies, let’s look at a new one, Bubble Mart.

Recent，Beijing Bubble Mart Park Management Co., Ltd. was established，Registered capital 10 million yuan，Business scope includes urban park management；Amusement Park；Ticket Agent；Performance Venue Management；Performance agent；Entertainment activities, etc.。According to shareholder information，The company is wholly owned by Beijing Bubble Mart 188bet app and Creative Co., Ltd.。

Pop Mart will be launched in December 2020，Less than a year ago，Compared to the previous highest stock price (107.6 Hong Kong dollars) peak 188bet app value of more than 150 billion Hong Kong dollars，As of closing on August 27，its stock price is 52.HKD 15，188bet app value has been cut in half。

There are multiple factors behind this: users and capital have changed from relatively enthusiastic to relatively calm about the blind box 188bet app；Bubble Mart’s continuous growth ability，Including own IP development capabilities, etc.；Intensifying competition in the blind box 188bet app, etc.。

Among them，The number of IPs, especially private IPs、Ability to get out 188bet app circle，To a large extent, it determines the competitiveness of a blind box company，But quickly develop high-quality IP，There is a lot of pressure in itself，This has led to some blind box companies to rely heavily on head IP，Including Bubble Mart。

Also worth paying attention to is，Judging from the data of this year’s semi-annual report，Pop Mart’s earning efficiency is decreasing。its inventory turnover days increased from 46 days in 2019，Increased to 78 days in 2020，74 days until June 30 this year，Although there are epidemic factors，But the slow sales is also an objective situation。At the same time，The gross profit margin of its independent products 188bet app first half of 2020 was 71.1%，66 188bet app first half of this year.9%。

To support 188bet app value and create more capital imagination space，Pop Mart removes the label of blind box company，Flaunting trendy attributes，Get involved in more related fields，Extended products and users (number and repurchase rate), etc.，Become an inevitable choice。And the above-mentioned establishment of the park management company，Involved in the investment, construction and operation of offline parks in the future，Also possible，Looking from the existing path model of IP commercial development，This is also a normal choice，This will expand its IP industry chain，Raise business barriers，Create more revenue and profit points。But the other way around，IP is the decisive factor in the paradise，But not the only one，Creation of IP offline products and experience scenarios、Operation etc.，There are many hidden challenges，It is inevitable that there will be a "backlash" effect。

Destination Investment Barometer

(Follow the "Zhihui" public account，Reply 188bet app background to "Benefit Review Issue 95"，Full version available)

188bet app week’s destination focuses on three aspects: inter-provincial travel、Domestic Theme Park、Destination Change。

Incomplete statistics on benefits，Sichuan this week、Inner Mongolia、Guangdong and Guangxi resume inter-provincial travel。From the current domestic prevention and control situation，The new round of epidemic has been basically controlled，The 188bet app market has basically recovered，But the peak consumption period of summer travel has been missed，If there is no major recurrence of the domestic epidemic in the next month or so，Mid-Autumn Festival、The two National Day peaks are saved，There are still expectations for the second half of this year。

However，After repeated epidemics，Travel Enterprise、Practitioners must further normalize the epidemic situation、Normality brought about by normalization of epidemic prevention、More understanding and coping strategies for uncertainty，The future 188bet app consumption market will be more volatile、It’s more complicated，Past tourist season、Peak consumption during key holidays, etc.，It is no longer possible to cope with the previous operational ideas，Adapting to uncertainty、The background of the normal market meltdown，More flexible operational response strategies、More corresponding product service model，We must explore and land as soon as possible。

Consumption upgrade and continued release of consumer demand，Domestic 188bet app market space is still expanding，New products are meeting more demands，Theme park is one of them。

Universal Beijing Resort officially launched trial operation on September 1st，The official opening date is approaching；Construction 188bet app world’s largest Legoland resort officially begins，Settled in Shenzhen；Taizhou Fantawild Animation Theme Park will be completed by the end 188bet app year with a total investment of 3 billion yuan。

This means Shanghai Disney、Universal Studios Beijing，The two top cities，There are top international theme parks in both the south and the north，At the same time, Lego’s landing in Shenzhen，There is also an international theme park brand here，Add Chimelong in Guangzhou，First-tier cities have their own theme parks，The domestic theme park 188bet app pattern has changed。Also，Huaqiang Fantawild’s further layout in the sinking 188bet app，It is also an important trend in the changes in the domestic theme park 188bet app。

Two Super Leagues、How strong，The domestic theme park 188bet app is gathering more international theme park brands，Yangtze River Delta、Beijing-Tianjin-Hebei、The Guangdong-Hong Kong-Macao Greater Bay Area has become the main highland，The southwest 188bet app is still relatively weak。The top layout of theme parks in first-tier cities has been basically determined，Second and third tier markets and even lower markets，It will be a more obvious competitive 188bet app in the future。

New theme park construction and operation，Also changing the product supply system of the destination，This is a manifestation of the upcoming changes in domestic 188bet app destinations。Next three years，While cross-border travel is still unlikely to recover significantly or fully，Domestic destinations will also usher in a more complex period of change。

Recent，Yunnan Province issued a three-year action plan to cultivate and develop new consumption and release consumption potential，The difference，By 2023，The province’s total retail sales of consumer goods grew at an average annual rate of about 10%；The province’s total cultural and 188bet app revenue reached 1.6 trillion yuan；Online retail sales reached 160 billion yuan，Strive for an average annual growth of 15%。At the same time，Accelerate the cultivation of cultural experience、Health and leisure、Farming experience、Industrial Relics、Popular science research、Cross-border travel、New business formats such as fitness 188bet app，Develop a group of outdoor sports、Demonstration base for new business formats such as health care 188bet app。

Overall view，2021-2023，Will still rely heavily on the domestic 188bet app market。And these three years，For destination，There will be two aspects of focus，First, it is necessary to develop and innovate 188bet app products in its own destination market、Service，Corresponding to new market environment and needs；Secondly, these three years are the three years that partially determine the innovation and transformation of the destination，Form of destination、The market brings the possibility of reinvention。

This creates a new pattern of internal circulation、Rising urban consumption、Industrial transformation and other factors，Yunnan’s three-year action plan，This is an observation 188bet app actions of domestic destinations in the next three years、Important reference for development and changes。

188bet app includes but is not limited to:

1、Under the influence of the epidemic，Outdoor sports、The market demand for health and wellness 188bet app is significantly higher，The prospect of health and wellness 188bet app is even more prominent，It can be said，This will be one of the main variables in the future of many destination cultural 188bet app markets，Cultural 188bet app products involving destinations、Project form and supply system，Even changes in the industry chain，188bet app revenue composition、Changes in cultural 188bet app market status and other changes。

2、Under the normalization of the epidemic，Changes in customer base and demand release，Destination marketing will be more urgent than before the epidemic，The aggregation of cultural 188bet app consumer products and the release of concentrated demand，Become one of the features，Where "promotion" is a core word，For example, it means product package discount，This will be one of the attractions。

At the same time，The uncertainty of the epidemic and the normalization of epidemic prevention，Meaning that the local customer base has become a more important dependency，“Local people by local people” is something that must be done with more emphasis，Short term、This will be the case in the medium to long term，This can also be regarded as one of the manifestations of structural changes in the cultural 188bet app industry。

3、Digitalization is increasingly penetrating into the cultural 188bet app industry，This is irreversible。If it were simpler to summarize this trend，can be divided into two aspects:

First, product supply level，Digital Technology、Combining products with offline scene space，Form new consumer experience products、Scene，Reconstruct consumption content；The second is the consumption level，Digitalization more closely matches online traffic with offline scenarios，Provide more comprehensive、Accurately adapted services，Promote conversion，188bet app generate and aggregate more data，Form a loop。

4、Urban agglomeration consumption circle of core cities、Urban consumer circles in third- and fourth-tier cities and lower-tier markets，As well as the short-distance consumption circle for urban residents ("a quarter of an hour" convenient living circle)，will be a regional consumption carrier in three different dimensions，It is 188bet app a new consumption carrier”。

5、Destination needs to develop night-time economy。The creation 188bet app night-time economy is no longer based on the morphological logic of multiple single points，Forward trend line、The shape 188bet app surface, etc.。

(For more analysis, please click here《The next three years，New consumption changes 188bet app staged in destinations，Reshape destination！》）

Cultural 188bet app consumption insights, innovative business formats

(Follow the "Zhihui" public account，Reply 188bet app background to "Benefit Review Issue 95"，Full version available)

This week, we will first focus on the recovery trend 188bet app domestic online travel industry.

Days ago，China Internet Network Information Center (CNNIC) released the 48th "China Internet Development Status" statistical report。Report Display，As of June 2021，The number of online travel booking users in my country reaches 3.6.7 billion，An increase of 24.11 million compared with December 2020，Accounting for 36% 188bet app total netizens.3%。Among them，This year’s Qingming Festival and May Day holiday，The number of domestic tourist trips nationwide recovered to 94 in the same period in 2019.5% and 103.2%。

Under the impact of the epidemic，The online travel industry was originally expected to exceed the trillion-dollar 188bet app size in 2019，Inevitable reshuffle and change。

According to data in the first half of 2020，Bankruptcy and closure among online travel companies、Major reorganization、The number of suspended platforms has reached 16；On the other hand，Deeply cultivated in China、Emphasis content、Live streaming, etc.，Become Ctrip、Flying Pig、The self-help methods adopted by Mafengwo and other traditional giants over the past year。In addition，Tik Tok、Kuaishou、Xiaohongshu and other social platforms that have both traffic and content advantages，also live locally、Sinking 188bet app、B&B camping, etc. are the entry point，Cross-border online travel attempts to play the role of some OTAs。

Meanwhile，The competitive boundaries 188bet app online travel field are also being redefined。

Before 2015，The online travel industry has experienced more than ten years of "barbaric growth"，Rapidly rising 188bet app demand and low online penetration rate，Brings unprecedented opportunities to the development of the industry，But it also makes price war a relatively single means of 188bet app competition。After 2015，As the demand side personalizes travel products、Improved demand for quality，A diversified 188bet app competition pattern with supply chain integration as the core competitiveness is gradually improving。

After the epidemic，With outbound travel "frozen"、Local travel and surrounding areas are hot、The rise of fragmented experience formats，And further integration of Internet + 188bet app、Under multiple backgrounds such as changes in 188bet app decision-making methods，No matter traditional giants or new players，Also more or less improved on content marketing、Traffic scale、Concern about non-standard product integration and other competitiveness，Trying to build a closed-loop business ecosystem。

A new round of online travel competition has begun，How to survive in the new situation of sporadic domestic epidemics，Aiming at increasing diversification、Rejuvenation、Localized user needs，Grasp the development trend 188bet app industry and further improve competitiveness，It is a difficult problem that all kinds of competitors still need to constantly think about and break through。

Let’s pay attention to the financing actions of an overseas hotel giant.

Reportedly，Microsoft has invested US million in OYO。After completing a new round of investment，OYO’s current valuation is US.6 billion，The company was valued at US billion after completing its last round of financing in 2019，Mainly due to the greater impact 188bet app epidemic on the company’s business。

The impact of the epidemic on this Indian hotel chain brand is beyond imagination，The recovery speed of its business is also slower than expected。In terms of global layout，OYO no longer focuses on China、The two former core markets of the United States；On the business focus，OYO goes beyond its original economic positioning，Start focusing on the mid- to high-end 188bet app，In India、Indonesia and other regions have launched the mid-range business hotel brand Collection O。

Experienced large-scale layoffs、Close store、Executive resignation、After the crisis such as being on the verge of bankruptcy，OYO has been “lost” in the Chinese 188bet app for a long time。But the existing independent hotel 188bet app that OYO points to，Relatively more attention after the epidemic。

"China Hotel Industry Report" shows，There are approximately 920,000 independent hotels in China’s hotel stock 188bet app，Accounting for more than 85%，The reachable 188bet app size is close to 1 trillion yuan。After the epidemic，In-depth cooperation with brand hotel chains，Become one of the main ways for independent hotels to solve the problems of capital chain and passenger flow。On the other hand，With the cost of site expansion and opening of new properties、Getting more and more difficult，BTG Home Inn、Huazhu、Jinjiang and other leading brands and some start-ups，More and more attention is paid to the potential of independent hotels，By integrating it into a brand、Refined operations, etc.，Accelerate the search for large-scale disruptive opportunities in the existing hotel 188bet app。