Recently Evergrande released

Financial Report for 2021 and 2022，Total loss of 812 billion yuan，Total liabilities are 2.4 trillion yuan。

What is this concept?

Equivalent to a monthly loss of 33.8 billion yuan，Loss 11 every day.1.2 billion yuan，Losing 46 million yuan per hour！

First quarter of this year，There are 3,409 A-share listed companies with profits less than 45 million。

In other words，Almost 60% of listed companies cannot make as much as Evergrande loses in one hour in a quarter。

ICBC’s profit in the past two years is only 700 billion，Not enough for Evergrande to lose money in two years。

Moutai’s current total market value is 2.16 trillion，Selling Moutai won’t be enough for Evergrande to repay its debts。

We always say money is hard to make。According to China’s per capita disposable income 3.70,000/year calculation，A person does not eat or drink，It will take about 30 years to save enough 1 million。

But lost 46 million per hour，This is much harder than making money！I don’t know how to make myself lose 46 million in one day even if I scratch my head.。

Evergrande after the debt crisis in 2021，A large number of real estate projects are facing suspension，Promoted by the government’s policy of guaranteeing the handover of buildings，Although there is improvement，But it’s really difficult。

In all properties of Evergrande，The owners who bought cultural and tourism real estate are probably the ones who have the most trouble sleeping。Even if the building is successfully handed over，It is estimated that it will also cause permanent damage to property。

Actually the first two years，A group of developers open their arms and actively embrace cultural tourism，It is destined to have such an ending: most cultural and tourism real estate will be a mess！

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This article will discuss？Why most cultural and tourism real estate will eventually fail？

01What is cultural tourism real estate?

The main business of Cultural Tourism Real Estate is real estate development and operation；The functional positioning is the development of cultural tourism industry；

Culture as the core element of cultural tourism real estate，Series planning 188bet app download and design、Landscape shaping、Marketing Management、The whole process of real estate development including property brand building，Contains a variety of real estate projects。

Broadly divided into three categories:Cultural experience, creative office type and professional service type.

To put it bluntly，Artificially create a cultural tourism scene，Combined with various basic supporting facilities，Attract people to gather，Then sell the house、Selling tickets、Collect rent、Selling goods、Collect property fees, service fees, etc.。

Therefore，Although the main business of Cultural Tourism Real Estate is real estate development and operation，But if you want to make money, you must do a good job in cultural tourism。

But most developers go astray.

02The historical background of cultural tourism real estate boom

Friends who are interested should be able to recall when the concept of cultural tourism real estate became popular。

The time needs to be set back to 2017!

Why 2017?

It happened to be the beginning of our country's ";Three reductions, one elimination and one supplementation”，And at the end of 2016, he proposed for the first time that housing should be lived in, not speculated，Then it gets worse！

Many people thought this was just a slogan，Now it seems，The determination was quite strong at that time。

In this context，Real estate companies are feeling anxious，Concerns about debt and cash flow have emerged！Vanke was the first to shout out in 2018: survive！

Real estate developers are clear-minded，They are all actively seeking transformation，One direction is to embrace the cultural tourism industry。

Hengda Cultural Tourism was established in 2015，But not because it has the ability to predict the future，But too ambitious。After all, Evergrande is already blindly diversifying，I wish I could do all the business in the world。

The map of Evergrande at that time was like this:

2018 is a great year for real estate + cultural tourism.

Sunac Culture and Tourism，Country Garden Tourism，Vanke Culture and Tourism，R&F Tourism，Kaisa Cultural Tourism，Fosun Tourism was established in 2018，All real estate companies have followed suit，Almost all established cultural tourism companies，Some even directly add a cultural and tourism suffix。

These developers are using the banner of cultural tourism,No gene for cultural tourism，Their biggest focus is always the house！We are still following the old path of real estate:

Obtain land at low price，Get support from banks and governments，Pre-sale，Mortgage to get money and then get the land。

ThemMost of the cultural and tourism operations fail.

At best, it’s just a 188bet online sports betting show，For example: buy IP、Patchwork team、Spend money for packaging、Telling stories、Hotness、Pretentious operation。However, all I can think about is selling the house！

The entire project was ultimately unsuccessful，They don’t really care，The local government will have to clean up the mess in the end anyway。

The luckiest among cultural tourism projects may be Wanda。This is a helpless move，Sold cultural tourism project in advance，But successfully escaped the epidemic and the three red lines，Also completed lightweight transformation。

Other real estate companies are not so lucky，After the three red lines are drawn，Cultural tourism projects have become the hottest potato！

03Why did the cultural tourism real estate industry fail?

Most of China’s cultural and tourism real estate sectors ended in disgrace，Except for the constraints of the era and background，There are some important reasons。

First, different industrial thinking

Real estate companies are only thinking about selling houses，Making products，And the faster the turnaround, the better！

The essence of cultural tourism development is to provide services，High level of complexity，Need to enhance value through long-term operation，It is impossible to sell the house and leave like the developer。

Doing real estate is like raising pigs，Raise the pig as soon as possible，Reach the maximum weight (scale) in the shortest time，Then divided into meat、Bone etc. are sold in bulk，Maximize profits，More attention volume。

Doing cultural tourism is like raising children，I hope he grows up healthily、Study hard，Become a pillar of society，More emphasis on quality。After all, culture cannot be established overnight。

Second, location, location, location

Cultural tourism real estate is still real estate，The core of real estate is location。

Cultural tourism projects in recent years，If the city is close，Getting land is difficult and expensive。

If it is easy to get land, it must be in a remote area.

This kind of trouble is difficult to solve.

Those cultural tourism projects that are relatively successful are generally divided into two types: either they are around big cities and have convenient transportation、Project with complete infrastructure，Either a project near a well-known tourist attraction。

Third, the financial attribute is too strong

Most property owners who purchase cultural and tourism properties do so for investment purposes。

So their core appeal is: appreciation!

at“House prices will keep rising”Under this inertial thinking，They rarely consider the return on investment of 188bet Online Sports Betting and Casino the project itself through operations。

The blindness of these owners has stimulated more real estate companies to rush into cultural and tourism real estate，Resulting in a significant increase in supply！However, location is always a scarce resource！There can’t be so many cultural tourism projects that can appreciate in value。

In addition, the main reasons that attract these owners are:

Cheap;

Not subject to policy control.

Most of these owners are middle class, and their ability to resist risks is inherently weak.

After encountering the epidemic, loan cessation began to ferment.

Owners are eager to take action，The pressure for appreciation of these projects is further increasing！

Fourth, doing cultural tourism requires a big picture

Culture and tourism are a need for spiritual attributes，It’s not just about building a few houses and making money。

Behind the project is a further test of the operator’s IP creation capabilities，Planning ability, etc.，Marketing and Publicity Ability，Service capabilities，Consumer Education Ability，Resource integration capability，Planning ability, etc.。

It is easy for humans to recreate a big city，But create another Confucius，Almost impossible。

04Where will cultural tourism real estate go?

Our country’s previous cultural and tourism real estate was essentiallyFake culture and tourism, real real estate！

Cultural tourism has basically become a tool for real estate and land purchase，Be“Care”’s cultural tourism has completely lost its independent spirit and status。

Two industries with completely different business models because of the land factor、Bundled by financial support and close integration with destination resources。

Cultural tourism is a consumer product，Real estate is a financial product，The consumption attribute of culture and tourism is completely covered by the financial attribute of real estate！

Because it was tied too tightly，With the decline of the real estate industry，Most of the early cultural and tourism real estate companies found it difficult to survive。

But don’t be too pessimistic，The demand for cultural tourism is endless，As long as we return to the essence and basic laws of the cultural tourism industry，This industry still has great potential。

In the final analysis,Real estate should serve culture and tourism，Culture and tourism are the inner core，Real estate is just an external form。

Otherwise，We must also correctly view a special attribute of cultural tourism real estate。That is, the experience of successful people is often difficult to copy！

For example，There is 188bet online sports betting only one Disney in the world，Disney started creating in 1919，Company established in 1926！so far，There are only 6 Disney parks in the world！

It can be seen from this，It is absolutely impossible for cultural tourism real estate to expand as fast as ordinary real estate！

End of 05

After the thunderstorm of Evergrande, what will happen to its cultural and tourism-related industries?

Back in 2007，Evergrande started to try the hotel industry。Evergrande Real Estate Group injected capital to establish Evergrande Hotel Management Group，Responsible for the management of Evergrande Hotel！

2015，Evergrande Tourism Group was established，Diversified development begins to extend to the cultural tourism industry。

2018，Hengda Tourism Operation Management Group Co., Ltd. was established (hereinafter referred to as “Evergrande Travel Management”)，Business scope includes investment, development and operation of tourism projects、Tourism Management Services。

Evergrande Real Estate has begun to withdraw from the hotel business at the end of 2020，All these hotel businesses are put into Evergrande Tourism Management, a subsidiary of Evergrande Group。

2021，Guangzhou Hengtong Investment Co., Ltd. was established (hereinafter referred to as “Guangzhou Hengtong”)，Business scope includes hotel management、Conference and exhibition services、Leisure and sightseeing activities, etc.。

March 2021，Evergrande Tourism Group Co., Ltd., which is 100% owned by Evergrande Group, changed its name to Evergrande Children’s World Group Co., Ltd. (hereinafter referred to as “Evergrande Children’s World”)，As the implementation entity of the group’s tourism business，Includes almost all tourism assets。

Later, Evergrande transferred out Evergrande Children’s World and Evergrande Travel Management，Guangzhou Hengtong holds 100% of the shares。

Such an operation，The purpose is obvious，I just want to go public independently，After listing, you can use equity to convert debt，You can also increase assets，Reduce leverage。

However，Heaven does not come true，Having to give up due to the thunderstorm of Evergrande。

15 children’s worlds deployed by Evergrande across the country，Most of them are still working hard to resume work and production。And these children’s worlds are being taken over by other companies one after another。

Evergrande’s cultural tourism is de-Evergrande.

Even if these children’s worlds are finally successfully delivered，The owner is 188bet Online Sports Betting and Casino not happy either，Because they are already receivers，I can only watch house prices fall，Shrinking wealth。

In addition，These cultural tourism projects are likely to have little traffic in the end，Then it will be difficult to recover the principal through leasing。

You may not be able to sell it even if you want to! In the end, I had to admit my losses and leave!

It only took 5 years for Boss Xu to go from the richest man to the richest man！Countless families paid a heavy price！

Warren Buffett once said: Only when the tide goes out do you know who is swimming naked！

We look forward to China’s real cultural tourism real estate after the tide recedes，Surfacing！