The domestic tourism industry does not change the recovery trend, and the fundamentals of related companies are expected to continue to improve

On February 8, the tourism sector bucked the trend, as of the noon close, Jiuhua Tourism, Qujiang Cultural Tourism, Lingnan Holdings and other 4 shares rose and stopped, Guilin Tourism, Zhangjiajie, Tibet Tourism and other stocks rose in the front.

Recently, according to official data, 251 million domestic tourism trips in the 7 days of the Spring Festival holiday in 2022, a year-on-year decrease of 2%, recovered to 73.9% in the same period of the 2019 Spring Festival holiday according to comparable calibers; achieved domestic tourism revenue of 289.198 billion yuan, a year-on-year decrease of 3.9%, and recovered to 56.3% of the same period of the Spring Festival holiday in 2019.

Ctrip released the "2022 Spring Festival Tourism Summary Report", as of February 5, the popularity of hotel search during the Spring Festival increased by 81% year-on-year, of which local hotel orders accounted for about 60%. During the Spring Festival, the order volume of theme hotels such as hot springs and parent-child hotels is expected to account for 55% and 12% of the total order volume, respectively. More than 80% of tourists choose to visit local scenic spots during the Spring Festival of the Year of the Tiger, and the tickets for scenic spots in this province account for up to 82%. In addition, the proportion of accommodation customers from third-tier, fourth-tier and fifth-tier cities increased by 13% year-on-year, an increase of 34% compared with the Spring Festival in 2019. Order volume increased by 30% year-on-year. At the same time that young people in small towns returned to their hometowns for the Chinese New Year, the number of bookings for rural hotels more than doubled compared with last year's Spring Festival.

In addition, with the official opening of the Beijing Winter Olympic Games, the Winter Olympics have also led to "ice and snow tourism" becoming the most popular amusement theme during the Spring Festival of the Year of the Tiger.

Tongcheng travel big data shows that during this year's Spring Festival, the number of orders for ice and snow scenic spots nationwide increased by 68% compared with the same period last year's Spring Festival. Fliggy data shows that the order volume of ice and snow tourism related commodities in the Spring Festival of the Year of the Tiger increased by more than 30% compared with last year's Spring Festival. On Ctrip's platform, ticket orders for snow and ski resorts increased by nearly 40% year-on-year.

Previously, the State Council issued the "14th Five-Year Plan" Tourism Development Plan, which pointed out that tourism has become a rigid demand for a better life for the people of a well-off society, and the per capita annual travel during the "13th Five-Year Plan" period exceeds 4 times. During the "14th Five-Year Plan" period, the mainland will fully enter the era of mass tourism, and the development of tourism is still in a period of important strategic opportunities, but there are new developments and changes in both opportunities and challenges.

Shanxi Securities believes that from the perspective of the repeated domestic regional epidemics, it is recommended to grasp the phased market. The domestic tourism industry has not changed the recovery trend, accompanied by possible local epidemics that repeatedly disturb the recovery process. During the period, accompanied by thematic investment and hot investment hotspots, the fundamentals of companies in the industry have been continuously repaired.