Recently, the Shenzhen Municipal Development and Reform Commission announced the "Shenzhen 2022 major project plan list", which arranged a total of 883 projects, focusing on modern industry, infrastructure, livelihood improvement and other fields. It is worth noting that the cultural tourism sector also occupies a place, including rongchuang HUAFA ice and snow cultural tourism city project and the overall development project of Dapeng Xiasha coastal ecotourism resort.
Since this year, the impact of the epidemic has continued, and the cultural tourism market is in the stage of slow recovery, but new hotspots such as "ice and snow economic fever" and "smart tourism" have also burst out. Among the listed cultural tourism enterprises, the phenomenon of turning losses into profits coexisted in 2021.
In the field of cultural tourism real estate, according to Kerui's report on the development of Chinese cultural tourism real estate from 2021 to 2022, as of December 2021, more than half of the top 100 real estate enterprises have been involved in the development of cultural tourism projects. However, the growth rate of the number of cultural tourism real estate projects in China has remained at 2% ~ 4% since 2016, and the industry has entered the development stage of "low growth and promoting quality".
Zhang Dexin, executive director of cultural tourism innovation and Entrepreneurship Research Institute, told the reporter of China Business Daily that under the current environment, new opportunities for the cultural tourism industry can be tapped from the innovation of six dimensions, including platform, mode, product, technology, playing method and crowd.
Yuan Shuai, Deputy Secretary General of the Rural Revitalization and Construction Committee of China Cultural Management Association, believes that asset appreciation is the origin of cultural tourism real estate, and the key to its operation is to establish customers' confidence in the project. "Therefore, it is necessary to regard long-term operation as an organic part of cultural tourism real estate projects and do a good job in IP building and the operation of commercial, hotel, theme park and other formats."
creating IP and transmission experience
Recently, Shenzhen Overseas Chinese Town Co.Ltd(000069) ( Shenzhen Overseas Chinese Town Co.Ltd(000069) . SZ, hereinafter referred to as " Shenzhen Overseas Chinese Town Co.Ltd(000069) ") disclosed the record of investor relations activities, which announced the 2022 cultural and tourism business development plan and said it would promote the implementation of projects in all regions of the country.
Among them, in South China, Shenzhen Overseas Chinese Town Co.Ltd(000069) will promote the construction of Zhongshan happy coast, Maoming Nanhai island, Zhanjiang happy Bay, Zhangzhou happy beautiful port and other projects, and said it will "improve urban functions, improve urban energy levels, drive value-added, and realize the win-win cooperation of real estate, culture and tourism".
The annual report shows that in 2021, Shenzhen Overseas Chinese Town Co.Ltd(000069) tourism comprehensive business income was 43.317 billion yuan, basically the same as that in 2020, with a gross profit margin of 32%, a year-on-year decrease of 10 percentage points.
The reporter noted that in the past year, Shenzhen Overseas Chinese Town Co.Ltd(000069) mainly promoted five tasks in cultural tourism business. Among them, it continues to strengthen its investment in IP R & D and application, and comprehensively improve the "tourism + IP" Application of its projects. In terms of independent IP cultivation, Shenzhen Overseas Chinese Town Co.Ltd(000069) its happy valley opened the road of original IP incubation and held activities in cooperation with Tencent original museum; Xiangyang fantasy resort creates the IP image of "fantasy Department", creating its own image IP, story IP and activity IP In terms of external cooperation, Happy Valley has improved its brand values and charisma by joining hands with the League of heroes, Peking Opera cat and other IP, combined with multiple communication channels such as station B, Tiktok, Kwai and so on.
As for the expenses related to IP building, the annual report shows that Shenzhen Overseas Chinese Town Co.Ltd(000069) signed an agreement with Jiangtong media, which authorized the development right of the large-scale outdoor theme park with the brand and brand image of "Sheriff biscuit" to all the "Happy Valley" theme parks under Shenzhen Overseas Chinese Town Co.Ltd(000069) for permanent use from December 31, 2016 to December 31, 2029, with a licensing fee of 30 million yuan. From 2030, Shenzhen Overseas Chinese Town Co.Ltd(000069) paid a series of IP licensing fees of 4 million yuan per year. During this period, all sales of "biscuit Sheriff" series derivatives need to pay a 9% share.
However, Jiangtong media authorizes "Sheriff cookie" in other non theme parks, and Shenzhen Overseas Chinese Town Co.Ltd(000069) can enjoy 20% of the authorized benefits. The commercial projects of "Sheriff cookie" in other channels are open to Shenzhen Overseas Chinese Town Co.Ltd(000069) limited investment rights, and the income is divided according to the investment proportion.
It is worth noting that in 2021, the hot topics caused by cultural tourism IP continue to rise. Kerry statistics show that in 2021, Disney entered the stage of IP cultivation. Since its debut at the end of September 2021, Disney's IP "Lingna Belle" has become the first hot search on microblog for 27 times, focusing on 30000 fans, with a maximum search volume of more than 230000 times.
In 2022, the holding of the Winter Olympic Games ignited the "ice and snow economy". At the end of 2021, rongchuang China Holding Co., Ltd. (1918. HK, hereinafter referred to as "rongchuang") transferred its snow farm operation experience to Jilin Province in the form of "light assets".
On November 29, 2021, rongchuang cultural tourism group and Qiaoshan Group signed a strategic cooperation and operation management agreement. The two sides announced that based on the rich ecological resources of Beida lake ski resort, rongchuang cultural tourism group and operation experience would be introduced to jointly strive to build Beida lake ski resort into an "international first-class ski Resort leisure area".
demand extends to multi dimensions
Building IP and delivering experience, the logic of real estate enterprises' layout of cultural tourism business is quietly changing.
According to Kerui's statistics, there were 212 new cultural tourism real estate projects in 2021, with a year-on-year growth rate of only 1.1%. By the end of 2021, the cumulative number of cultural tourism real estate projects in China was 9987, and by the end of 2015, it had reached 8701.
The investment momentum of "heavy assets" tends to be stable. Kerui pointed out that in 2021, the cultural tourism real estate industry began to move steadily forward in the high-quality development stage of revitalizing the stock, strengthening operation and digital upgrading. "Developers regain confidence and speed up the pace of adjustment."
According to the tourism sample survey 2020 released by the Ministry of culture and tourism, the main group of Chinese tourists in 2019 was young people aged 25 to 34, accounting for 30.3% of the total number of tourists. Young and middle-aged tourists aged 25 to 44 account for 52.2% of the total number of Chinese tourists.
Yuan Shuai told reporters that since 2020, affected by the epidemic, China's tourism industry has shown a slow recovery after being impacted. Urban leisure tourism and rural tourism have become one of the hot spots for Chinese tourists. In particular, "light tourism", "micro vacation" and "residential hotel" characterized by short time, short distance and high frequency have become popular choices.
According to China's County Tourism Competitiveness Report 2021, in 2020, China's top 100 tourism counties and cities realized an average total tourism revenue of 15.616 billion yuan, which recovered to 76.5% before the epidemic, 28.6 percentage points higher than the recovery rate of China's total tourism revenue.
In terms of product types, the continuous innovation of business formats has extended the "life curve" of cultural tourism.
Taking Vanke Liangzhu Cultural Village as an example, the project is divided into three areas: core tourism area, small town style resort and forest ecological leisure area. It is equipped with Liangzhu Cultural Museum, Jade Bird Liusu Cultural Innovation Park, creative culture street, theater and other facilities to further promote the development of culture and tourism industry in the small town.
Kerui report pointed out that the product innovation of "cultural tourism new decade" will involve Hotel format, theme park format, content ecology and Guochao culture. The opinion index report shows that from the perspective of tourists and capital market reflection, the development of multiple formats of culture and tourism has become an important means of profitability. In 2021, a number of innovative cultural tourism operators obtained financing, and investment institutions focused on fields including smart tourism, indoor recreation, cultural tourism manufacturing, cultural tourism technology and so on.
Zhang Dexin told reporters that the epidemic forced important changes in the cultural tourism market, including quality upgrading, product innovation, technological innovation and cross-border integration based on cultural tourism integration and internal circulation.
Among them, technological innovation is also mentioned in the tourism development plan of the 14th five year plan to promote the development of smart tourism. Specifically, the fifth generation mobile communication (5g), big data, cloud computing and other technologies are comprehensively applied to innovate the public service mode of smart tourism.
many places have introduced relief measures for tourism enterprises
The refined operation of cultural tourism projects driven by demand tests the ability level of enterprises in many aspects.
Yuan Shuai said that at present, the three mainstream factions of cultural tourism real estate are theme amusement, cultural tourism town and scenic spot support, with their own advantages and disadvantages. "For real estate enterprises, cultural tourism real estate is mostly an opportunity project. If the feasibility demonstration is passed, we can weigh and consider long-term development. But the premise is that we need to fully consider whether we can bear large-scale and long-term continuous investment, so that we can carefully lay this heavyweight 'chess piece' in the big chess game."
Capital is still an examination question in front of developers who layout cultural tourism business.
The reporter noted that since this year, many places have introduced relief measures for tourism enterprises. Recently, the Ministry of culture and tourism and other 14 departments jointly issued several policies on promoting the recovery and development of difficult industries in the service industry. Among them, Articles 26, 29 and 30 give consideration to the current relief and long-term development of the tourism industry, and strengthen financial support through various measures to help tourism enterprises tide over difficulties and resume development.
On April 13, according to the data of Shanghai clearing house, Guangdong Tourism Holding Group Co., Ltd. plans to issue the first phase of ultra short-term financing bonds in 2022, with an amount of 500 million yuan, which is intended to be used to repay the issuer's maturing debt financing instruments.
Subsequently, on April 15, Changbai Mountain Tourism Co.Ltd(603099) ( Changbai Mountain Tourism Co.Ltd(603099) . SH) issued a plan for non-public offering of A-Shares in 2022, and planned to raise 500 million yuan to invest in Changbai Mountain Tourism Co.Ltd(603099) volcanic hot spring tribe phase II, Changbai Mountain Tourism Co.Ltd(603099) tourism and transportation equipment improvement project and supplement working capital.
Recently, Shenzhen Overseas Chinese Town Co.Ltd(000069) in accepting institutional research, also said that it has been constantly trying and innovating financing methods, and issued the special asset management plan for the admission certificate of Happy Valley Theme Park in December 2012, which is the first ABS Project in China based on the admission certificate. According to the current relevant policies of the national development and Reform Commission and the CSRC, the pilot area and pilot industry of public offering REITs have been expanded, and it will pay close attention to the change trend and implementation of relevant policies.
It is worth noting that for its cultural tourism projects, developers are also constantly adjusting their planning.
On January 17, the equity of Wuhan rongchuang Wudi Changjiang Cultural Tourism City Investment Development Co., Ltd. changed, and its operation project is Wuhan urban construction rongchuang ganlushan cultural and creative city. After the equity change, the equity held by rongchuang's subsidiaries decreased from 50% to 15%, and the directors, supervisors, managers and other senior managers changed accordingly. Previously, the subsidiary of Huafa Industrial Co.Ltd.Zhuhai(600325) ( Huafa Industrial Co.Ltd.Zhuhai(600325) . SH) invested 1.2 billion yuan to acquire 40% equity of the subsidiary of rongchuang in Kunming rongchuang cultural tourism city phase II project.
In December 2021, Sichuan Languang Development Co.Ltd(600466) ( Sichuan Languang Development Co.Ltd(600466) . SH) transferred 100% of the equity of the wholly-owned subsidiary to reduce the company's liabilities. The subsidiary includes three projects, of which the "Tianjin station" was originally planned to be the "rice man" theme park project.
