Let’s take a look at the first half performance report recently released by Fosun Tourism.

Recently，Fosun Tourism Culture’s performance for the first half of 2022 released，Income 64.1.7 billion yuan，131% year-on-year increase。During the reporting period，The company’s loss attributable to shareholders is 1.9.7 billion yuan，Loss narrowed by more than 90% compared with the same period last year。

From the perspective of the company’s three major revenue components，Resort and tourist destination operating income 51.5.8 billion yuan，174 year-on-year increase.12%。Income from tourism-related property sales and construction services 2.7.3 billion yuan，Decrease of 58 year-on-year.55%。Income from tourism and leisure services and solutions9.8.5 billion yuan，309 year-on-year increase.18%。

Fosun Tourism’s performance improved，Mainly due to the substantial improvement in overseas resort business performance，Financial report data display，First half of 2022，Resort business Club Med achieves revenue of 57.4.3 billion yuan，An increase of 336% compared with the same period in 2021，Compared to the same period in 2019，Business recovery has exceeded 90%，Performance is close to pre-epidemic levels。Not only that，Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) large 11.6.5 billion yuan，Realize loss to profit。

Looking at it from another angle，Fosun Tourism mainly owns the resort Club Med (recently it has been officially announced that the Chinese brand name is Club Med)、Three major brands of resort destination Atlantis and hotel Thomas Cook。

Globally，Fosun Travel has a total of 70 Club Med，8 in China，The rest are overseas。Due to international travel restrictions being lifted in many countries around the world，Increased demand for overseas vacations from tourists from many countries，This is also the main reason why overseas Club Med contributes the most to Fosun Tourism Group’s revenue and profits。

For example，European, African and Middle Eastern business revenue accounts for two-thirds of the total revenue of the entire central region club，A single region in France accounts for 40% of revenue。Affected by different epidemic prevention policies adopted by different countries，The market in the Asia-Pacific region, which the company has always attached great importance to and increased investment in, is recovering slowly， Revenue in the first half of the year increased by 36% year-on-year，Recovered only to 27% of the same period in 2019。

Second half of the year，Fosun Tourism plans to open 4 new Club Med resorts，Increase the number of newly opened resorts in 2022 to 7。Compared to the same period in 2021，Club Med’s revenue increased by 41% in July this year，12% increase compared to 2019，Coupled with the ski booking volume in the first half of the second half, these are signs that Club Med will continue its good performance in the first half in the second half。

However，Affected by the outbreak of the epidemic in many places in China，The epidemic is especially serious in Sanya, Hainan，The performance of Atlantis Sanya and Thomas Cook owned by Fosun Tourism is not satisfactory。The former achieved revenue 4.8.7 billion yuan，Down 42% year-on-year，Room revenue 2.7.1 billion yuan，42 decrease year-on-year.4%；Other operating income about 2.1.6 billion yuan，Over 40% year-on-year decrease；The average daily room rate is about 2,479 yuan，Average occupancy rate reaches 46%，Reduced by nearly 34%。

Different from Club Med’s remarkable performance，Atlantis Resort Sanya, which invested over 10 billion yuan, performed poorly in the first half of the year。This resort has a total of 1,300 rooms，188bet Online Sports Betting and Casino 5 underwater suites，A water park、An aquarium and 10 restaurants。Under normal circumstances，It is Fosun Travel’s cash cow，Accounting for about 15% of the group’s total resort business revenue。But the resort relies heavily on domestic tourists，Affected by epidemic prevention and control measures and domestic inter-provincial travel restrictions，The resort dragged down Fosun Tourism’s overall performance in the first half of this year。

Same，Affected by travel uncertainties，And brand development is still in the early stages，The performance of Thomas Cook, Fosun Tourism’s third largest brand, also dragged down the company’s overall performance。

After the Shanghai epidemic is over and the city lockdown measures are lifted，Fosun Tourism’s Thomas Cook hotel business and Atlantis resort business have improved。Also，The company decided to open 6 new Club Med resorts in China、Measures such as expanding Casa Cook in overseas markets also herald the simultaneous improvement of domestic and foreign business，In particular, Club Med’s overseas business may continue its strong rebound。

As Qian Jiannong, Chairman and CEO of Fosun Tourism said,Facing instability，Globalization and diversified layout can help Fosun Tourism achieve recovery performance that is better than the industry level。Sitting on 3.4 billion yuan in cash flow and 4.3 billion yuan in credit loans，Not only can it help the company overcome the current epidemic difficulties，We can still wait for the three major brands to recover strongly“Dawn Dawn”。

August 25，The website of the Ministry of Culture and Tourism announced the second batch of national night culture and tourism consumption clusters list，Wangfujing, Beijing、Happy Valley and other 123 agglomeration areas were selected，So far, there are 243 night-time cultural and tourism consumption clusters nationwide，In ancient urban areas across the country、Cultural Industry Park、Mainly in commercial blocks and other cultural, tourism and leisure areas。

End of last year，The Ministry of Culture and Tourism announced the first batch of national-level night culture and tourism consumption clusters list，120 in total，Including Qianmen Street, Dongcheng District, Beijing、Fifth Avenue, Heping District, Tianjin、Shenyang Middle Street, Shenyang City, Liaoning Province and other places。

Under the current domestic circulation pattern，The nighttime economy embodies a city’s dynamic brand，It is a new form of upgrading the quality of life experience，It is to stimulate consumption、Promote investment，The strategic mission of cultivating new urban cultural landmarks，It also reflects the cultural characteristics of the city，Effective marketing means to shape urban cultural brand。

There is huge potential for nighttime consumption.According to public information，A survey report on the consumption habits of urban residents from the Ministry of Commerce shows，60% of consumption occurs at night；Earlier data display，Beijing Wangfujing has a peak passenger flow of more than 1 million people every day concentrated at night，Two-thirds of Chongqing’s catering turnover is realized at night，Guangzhou’s nighttime economy contributes more than half of the city’s service industry turnover。London’s performance is also quite outstanding，Its night-time economy supports 1.3 million jobs，Create annual revenue of approximately £66 billion。

June last year，"&ldquo announced by the Ministry of Culture and Tourism;14th Five-Year Plan”Cultural and Tourism Development Plan" points out，Vigorously develop the night-time economy，Promote the construction of national-level night culture and tourism consumption clusters；Develop night tourism and holiday economy，Expand the scope of travel time and space；Build more than 200 national-level night culture and tourism consumption clusters，Expand the scale of nighttime consumption。

This reflects domestic consumption、Big changes in the economic development environment，Urban consumption seeks new breakthroughs、The changing consumption of cultural tourism and many other important meanings。Considering that the normalization of the epidemic will bring about consumption distance、Deep-seated changes in consumer demand，The night-time economy has been given more expectations to release and stimulate consumption。

From the perspective of urban consumption，The boundaries between day and night are becoming more blurred，Night is not just an extension of daytime，Even moreA new independent consumption scene different from the daytime，has a long conversion period，New business format、Filling in new content、Update，Evolution of new consumption entrance，Reconstructing the new supply of destination cultural tourism consumption，Build a new way of life，The new fireworks of urban consumption、New energy。

In addition, from the perspective of new changes on the consumer side，Large-scale mainstream customer base from the post-90s generation to Generation Z，They advocate traditional culture，Desire for traditional culture、There is a very strong need to upgrade experience consumption，Pursuing and building a new lifestyle，On the one hand, it promotes higher demand for nighttime consumption，On the other hand, specific scenarios for night consumption are also required、The business format is more personalized、In-depth experience，Forcing supply-side reform，Extending the night-time economy as a new consumption carrier space，has become a consumer category that is independent of daytime，Can be made bigger，It also needs to be bigger。

In recent years，Rapid development of night-time economy and new consumption、New technology、New policies are closely related to many new elements such as new urban space。

Iteration and application of new technologies，make content、IP、Integration of cultural resources + technology，Become an effective means to introduce new products and scenarios，The specific products of the night economy have been more widely involved in the application of sound and light technology、Immersive experience product creation；

New policies include central level or ministry level、Provincial and municipal level，And industrial or consumer policies，Accelerate the formation of market opportunity space for new industries、Release，A considerable thrust is formed。The current policies surrounding the night-time economy have continued to stack up，With provinces and cities“Competition”meaning，More cities have launched special policies to develop the nighttime economy。

And urban space is undergoing urbanization、Urban Update、Industrial transformation、In the context of consumption upgrading，Facing the big urban framework，Updates and changes as small as the architectural space，Inventory optimization of urban leisure and entertainment space、Incremental creation，The demand space for the night-time economy has been expanded。If you consume new from the city、Examine cultural tourism from multiple dimensions such as new consumption，All cultural and tourism industry practitioners can find new breakthroughs in the larger night-time economic field。

With changes in the domestic economic environment、The blessing of national policies and the promotion of new consumer demand，The current status of the night-time economy is constantly emerging，There will also be many new variables in its development path，Also means this segmented industry with a market size of 10 trillion，There is still a lot of room for imagination，More city destinations、Scenic spots pass night economy，Promote your own consumption、Transformation and upgrading, etc.，Create more possibilities。

However，Under power limit、Under the influence of carbon neutrality and other factors，The single light show mode in the night economy may be weakened or controlled，The passive and active momentum of innovative breakthroughs in night economy product models has been strengthened，Among themMore emphasis on innovative construction of scene content，IP + new business format integrating science and technology、New product creation model。