Investment Rating - The report rates the leisure service industry as "Positive" for investment [2][28]. Core Insights - The May Day holiday tourism consumption exceeded expectations, with a total of 314 million domestic trips, a year-on-year increase of 6.4%, and total spending of 180.27 billion yuan, up 8.0% year-on-year [5][10]. - The trend of "reverse tourism" is prominent, with a significant increase in rural tourism, leading to higher hotel demand in surrounding areas [5][17]. - Both inbound and outbound tourism markets are experiencing a robust recovery, with inbound travel orders increasing by 130% year-on-year during the holiday [5][23]. Summary by Sections 1. Travel Consumption: Continued Growth in May Day Tourism - During the May Day holiday, domestic tourism market heat continued to rise, with a slight increase in average spending per person to 574 yuan, up 1.48% year-on-year [5][15]. - The total number of domestic trips reached 314 million, with total spending of 180.27 billion yuan [5][10]. 2. Domestic Tourism: "Reverse Tourism" Trend and Rising Self-Driving Travel - The "reverse tourism" trend is evident, with rural tourism bookings increasing by nearly 20% year-on-year [5][17]. - Self-driving travel is also on the rise, with average car rental spending increasing by 24% and the average rental duration extending to 4 days [20]. 3. Inbound and Outbound Tourism: Mutual Growth - Inbound tourism orders surged by 130% year-on-year, with significant growth in travelers from the U.S., South Korea, and Japan [23][24]. - Outbound tourism also saw a 20% increase in orders, with popular destinations including Japan, South Korea, and Thailand [24]. 4. Investment Analysis - The report suggests that the May Day holiday tourism performance was better than expected, with a recommendation to invest in hotels, scenic spots, and duty-free companies [28].

Core Insights - The domestic tourism market in China experienced a significant surge during the May Day holiday, with 314 million domestic trips taken, representing a year-on-year increase of 6.4%, and total spending reaching 180.27 billion yuan, up 8.0% from the previous year [1] - The travel demand was driven by favorable weather conditions and the trend of combining holidays, leading to a historic high in travel enthusiasm, which is expected to extend into the following weekend [1] Group 1: Travel Trends - The travel market showed a diverse range of popular destinations, with major cities like Beijing, Shanghai, and Sanya leading the way, and a notable increase in long-distance travel to regions such as Qinghai and Xinjiang, where ticket sales doubled compared to last year [4] - The trend of "reverse tourism" gained traction, with smaller cities and rural areas attracting visitors due to their affordability and lower crowd levels, resulting in a 30% increase in hotel bookings in county-level cities [4][5] Group 2: Consumer Demographics - The consumer base for tourism has become more diverse, with a 30% increase in first-time flight bookings, particularly among younger travelers aged 19-22 and older travelers aged 60-80, whose bookings rose by 40% [5][8] - The "new silver-haired" demographic, aged 55-60, showed a strong inclination towards quality travel experiences, with a 47% increase in hotel bookings, particularly for high-end accommodations [8] Group 3: Emerging Travel Preferences - There is a growing trend of pet-friendly travel, with a 30% increase in bookings for pet-friendly hotels during the May Day holiday, reflecting a shift towards accommodating pet owners in the tourism market [9] - The market is transitioning from "scale expansion" to "quality upgrade," with rising demand for differentiated experiences such as family-friendly travel and cultural integration [9]

"五一"假期消费亮点纷呈，显示出国内消费市场正逐步回暖、信心增强，也体现了消费模式的创新与多 元化，彰显了居民消费需求的升级。 5天全国国内出游3.14亿人次，同比增长6.4%；国内游客出游总花费1802.69亿元，同比增长8.0%……这 个"五一"假期，全国旅游市场大幅升温，新的文旅消费热点不断涌现。 "假日经济"的火热，折射出我国消费市场的活力与潜力。抢抓节日消费旺季，促消费政策也在密集出 台。 业内分析，"五一"假期消费亮点纷呈，显示出国内消费市场正逐步回暖、信心增强，也体现了消费模式 的创新与多元化，彰显了居民消费需求的升级。随着从中央到地方促消费政策落地见效，消费增速仍有 提速空间。 假期消费亮点频现 "五一"假期，出行需求集中释放。交通运输部数据显示，5月1日至5日，全社会跨区域人员流动量 146594万人次，日均29319万人次，同比增长7.9%。其中：铁路客运量10170万人次，日均2034万人 次，同比增长10.8%；公路跨区域人员流动量同比增长7.6%；民航客运量1115万人次，日均223万人 次，同比增长11.8%。 人员流动带来了服务消费持续升温，餐饮文旅市场红火。据商务大数据监测，假 ...

海底捞火锅上海人民广场店经理胡先生表示，"五一"假期前两日接待量较清明假期上升30%，因门店临 近步行街、外滩、上海博物馆等著名旅游景点，游客占比达到了80%，其中约有两成为入境游的外籍客 人。门店晚市的等位高峰从下午5点开始，会持续到晚上9点半。 随着过境免签政策优化，越来越多境外游客来到成都旅行，丰富多样的美食尤其受青睐。 2025年"五一"假期期间，旅游度假、探亲等需求高度叠加，"味蕾游""露营游""古迹游"丰富了游客的假 日体验，也显著拉动了多地餐饮消费。 记者从海底捞方面获悉，"五一"期间，全国海底捞火锅门店普遍迎来客流高峰。北京、上海、杭州、广 州、成都等城市的门店迎来较高客流，其中，位于西湖边的海底捞火锅杭州工联CC店连续4天翻台率超 过11轮，最高突破12轮，位居假期全国门店翻台率榜首。 海底捞方面表示，在上海地区，"五一"假期叠加"五五购物节"，带动了商圈内餐饮门店的客流增长。同 时，大量的海外游客也热衷于来海底捞体验火锅美食。 位于静安大悦城（000031）、世茂广场的两家海底捞火锅门店迎来了今年客流接待量的新高。海底捞大 悦城、世茂广场双管店长郭先生介绍，"商场在假期推出了很多满减活动， ...

Core Viewpoint - The Chinese cultural tourism industry is entering a new phase defined by "user-defined value," with emerging trends such as reverse tourism, street vending, and companionship services reshaping travel experiences and market dynamics [3][30]. Group 1: Market Recovery and Trends - The cultural tourism market is experiencing a comprehensive recovery, with significant increases in ticket bookings and travel data during the May Day holiday, indicating a robust resurgence [5]. - Popular scenic spots saw a 30% year-on-year increase in ticket bookings, while long-distance travel bookings rose significantly, covering 1,229 counties across the country [5]. - The railway system projected to send 144 million passengers during the holiday period, marking a 4.9% increase compared to the previous year, with specific regions like the Yangtze River Delta seeing even higher growth [5]. Group 2: Emerging Travel Trends - Reverse tourism has shifted from a niche choice to a mainstream trend, with younger generations favoring less crowded, more unique travel experiences, leading to a 20% increase in county tourism orders and over 40% growth in rural tourism [8]. - The focus has shifted from popular tourist spots to lesser-known destinations, with young travelers increasingly seeking immersive experiences and "hidden gems" [11]. - The rise of street vending among the Z generation reflects a blend of creativity and entrepreneurship, with various innovative products and services emerging in tourist areas [12]. Group 3: Policy and Market Activation - Government initiatives, such as visa-free policies and transportation enhancements, have significantly boosted inbound tourism, with Shandong and Fujian benefiting from increased visitor numbers [20]. - Various regions are implementing tourism consumption vouchers and organizing cultural activities to stimulate demand, with Sichuan issuing 68 million yuan in tourism vouchers [21]. - Local governments are adopting inclusive innovations in urban governance to balance order and vibrancy, with many offering free access to public transport and attractions during peak travel times [23][25]. Group 4: Evolution of Consumer Preferences - The younger generation views travel as a means of self-expression, leading to a demand for personalized and immersive travel experiences rather than standardized services [27]. - Traditional tourist destinations remain popular, but there is a notable shift towards experiential and thematic consumption, with attractions increasingly focusing on immersive storytelling and cultural engagement [29]. - The future of the cultural tourism industry will depend on the ability to capture and leverage these micro-trends into sustainable business models [31].

Core Insights - The report indicates a significant increase in homestay bookings during the May Day holiday, with a year-on-year growth of 36%, marking a historical high [1][2] - Popular travel trends include reverse travel, "lying flat" tourism, and pet-friendly trips, with Nanjing ranking as the third most popular destination nationwide, following Qingdao and Beijing [1][2] Group 1: Booking Trends - Over 90% of cities experienced positive growth in homestay bookings during the May Day holiday, with traditional popular cities like Qingdao, Beijing, and Nanjing leading the top 10 destinations [2] - Guiyang saw the fastest growth in bookings, with a remarkable increase of 300%, while several other cities also reported over 100% growth in orders [2] Group 2: Travel Preferences - There is a noticeable rise in county-level tourism, with a year-on-year increase of 73% in homestay bookings in these areas, as travelers seek unique cultural experiences and natural scenery [3] - The 95 post-90s generation shows a strong preference for "reverse tourism" and "lying flat" tourism, with over 60% of their bookings being for quality homestays in county-level destinations [3] Group 3: Pet-Friendly Travel - The demand for pet-friendly homestays surged, with bookings for such accommodations increasing by 92% during the May Day holiday, reflecting a growing trend among pet owners [3]

Core Insights - The domestic cultural tourism market is experiencing a strong recovery during the May Day holiday in 2025, shifting from "scale expansion" to "quality upgrade" with a rising demand for differentiated experiences [1][3][5] Group 1: Market Trends - Popular travel destinations during the May Day holiday include Beijing, Shanghai, Hangzhou, Guangzhou, Chengdu, Chongqing, Nanjing, Wuhan, Shenzhen, and Xi'an, with Jiangsu showing significant growth in hotel and flight bookings, up 12% and 76% year-on-year respectively [1] - The rise of niche markets such as family travel and pet-friendly trips is evident, with family-oriented hotel bookings in Inner Mongolia and Shanxi increasing over 100% [3][5] - The integration of culture and tourism is a prominent trend, with searches for intangible cultural heritage-themed tours surging, leading to a 132% increase in related ticket bookings [5][10] Group 2: Consumer Behavior - The demand for rural and county tourism is growing, with bookings for rural trips increasing nearly 20% and occupancy rates for certain rural resorts exceeding 90% [7][9] - The younger demographic, particularly university students aged 19-22, shows a 30% increase in purchasing their first flight tickets, while the "new silver-haired" group has a 43% increase in hotel bookings, focusing on quality and emotional value [3][10] Group 3: Inbound Tourism - Inbound tourism is rebounding strongly, with a 130% year-on-year increase in orders during the May Day holiday, particularly in cities like Shanghai, Shenzhen, and Guangzhou [10][11] - The demand for local food experiences among foreign tourists has surged, with related orders increasing 6.8 times compared to the previous year [11] Group 4: Travel Preferences - Diverse travel methods are gaining popularity, with significant increases in self-driving, free travel, and private group bookings, as evidenced by a 24% rise in per capita car rental spending [12][14] - Train and flight bookings for domestic travel during the May Day holiday have also seen notable growth, with train ticket bookings up 10% and flight bookings up 25% year-on-year [14][16]

Core Insights - The "May Day" holiday this year saw a significant increase in cultural and tourism activity, reaching a three-year high, with a 30% increase in orders compared to the same period in 2023 [1][2][8] - The post-95 generation has emerged as the main consumer force, accounting for nearly 50% of travel orders during the holiday [2][5] - The trend of "technology + cultural tourism" became more pronounced, with innovations such as drone delivery enhancing the consumer experience [7] Group 1: Consumer Trends - The post-95 demographic accounted for 45% of travel orders during the "May Day" holiday, indicating a strong demand for personalized and in-depth travel experiences [2][5] - Nighttime orders from out-of-town tourists exceeded 30%, 1.6 times that of local consumers, highlighting a shift in consumption patterns [4] - The popularity of music festivals and concerts surged, with related package orders increasing by 180% year-on-year [6] Group 2: Destination Insights - The top ten popular destinations included cities like Nanjing, Xi'an, and Chengdu, with significant contributions from out-of-town tourists [2][8] - High-star hotel bookings in smaller cities increased by over 80%, reflecting a continued interest in "reverse tourism" [8] Group 3: Food and Beverage Consumption - The demand for milk tea surged, with orders increasing by 100% week-on-week and 120% year-on-year during the holiday [5] - The delivery of swimming gear and other leisure items via food delivery services saw a 330% increase, indicating a shift in consumer behavior [4] Group 4: Technological Innovations - Drone delivery services attracted families and foreign tourists, with orders from overseas visitors increasing by nearly 161% [7] - The implementation of drone delivery in parks improved the consumer experience by addressing challenges in locating delivery personnel [7]

"与此同时，游玩体验的多样性和趣味性越发重要，海岛度假、雨林徒步、沙漠骆驼骑行、星空露营、 茶山采风等玩法备受消费者青睐，避开人流、躺平式度假、深度体验在地文化等需求集中释放。"飞猪 旅行相关负责人表示。 "近年来，高速公路、高铁及机场网络不断拓展，为低线城市游客的出行提供了极大的便利，三四线城 市游客旅游渗透率不断提高，并逐渐成为旅游市场的新兴力量。"途牛旅游网相关负责人表示，今年"五 一"假期，六盘水、葫芦岛、漳州、遵义等客源地出游人次同比增长均超过了70%。此外，大同、营 口、揭阳、宿迁、南平、阜阳等地用户的出游热情也保持了较高的增长趋势。 新华财经北京5月6日电（记者丁雅雯、李唐宁）旅游平台的数据显示，今年"五一"假期，"反向旅游"再 度走热，县城高星酒店预定火爆。 （文章来源：新华财经） "五一"假期，不少人将目光投向了性价比更高的县域地区。美团旅行显示，今年"五一"假期，县城高星 酒店预订量同比增长超80%。相比拥堵的热门城市，"诗画江南"浙江桐庐县、"长诗圣地"安徽怀宁 县、"皖北江南"安徽凤台县、"上梅古镇、蚩尤故里"湖南新化县均成为人们寻找"松弛感"的热门之选。 "'味蕾游'的走红也让众多小 ...

Group 1 - The core viewpoint highlights the significant increase in tourism in Hangzhou during the "May Day" holiday, with a total of 16.13 million visitors, representing a 53% year-on-year growth [1] - Hangzhou ranked among the top three popular travel destinations during the holiday, following Beijing and Shanghai, with 9.6 million visitors from outside the city, a 35.4% increase [1] - Key attractions such as the Broken Bridge and Lingyin Temple saw record-high visitor numbers, with the Songcheng scenic area receiving 393,900 visitors over five days, including a peak of 130,400 on May 2 [1] Group 2 - The integration of technology in tourism is showcased through various innovative experiences, such as dancing robots and AI interactive exhibits, enhancing the overall visitor experience [2] - The "County Tour" concept emerged as a popular trend, with rural tourism receiving 1.09 million visitors on May 3, marking a 13.62% increase [2] - The inbound tourism market was activated by favorable visa and tax policies, with Hangzhou's inbound travel orders increasing by 63% and ticket orders rising by 33% during the holiday [2]