Samsonite Group (01910) Q1 2025 Earnings Call May 13, 2025 08:30 AM ET Company Participants William Yue - Director of Investor RelationsKyle Gendreau - CEO & Executive DirectorReza Taleghani - CFO, Executive VP & TreasurerErwan Rambourg - Managing Director, Global Head of Consumer and Retail Equity ResearchAnne Ling - Managing Director Conference Call Participants Dustin Wei - Analyst William Yue Thank you for taking the time to join Samsonite's first quarter twenty twenty five results presentation. We have ...

Core Insights - The article discusses the overwhelming crowds and challenges faced during the "May Day" holiday travel in China, highlighting the need for flexible vacation policies to alleviate pressure on tourism resources [8][24][25]. Group 1: Travel Statistics - According to the Ministry of Culture and Tourism, an estimated 314 million domestic trips are expected during the 2025 "May Day" holiday, representing a 6.4% increase year-on-year [13]. - The total expenditure by domestic tourists is projected to reach 180.27 billion yuan, marking an 8.0% increase compared to previous years [13]. Group 2: Travel Experience Challenges - Many travelers reported poor experiences due to overcrowding, with popular destinations becoming "battlefields" rather than enjoyable sites [27]. - The high demand for accommodations led to significant price increases, with some hotels charging several times their usual rates, causing frustration among travelers [25][24]. Group 3: Flexible Vacation Policies - The article advocates for the promotion of "flexible vacation" policies to distribute travel demand more evenly throughout the year, potentially reducing the strain on popular destinations during peak times [10][29]. - Implementing such policies could enhance the overall travel experience by allowing tourists to avoid crowds and high prices, thus improving tourism quality [30][31]. Group 4: Economic Implications - The concentration of travel during peak holidays can lead to inflated operational costs for tourism-related businesses, limiting profit margins [31]. - A more staggered approach to vacations could extend the tourism consumption cycle, benefiting both businesses and consumers by balancing demand and supply [32]. Group 5: Implementation Challenges - The article notes that while flexible vacation policies could alleviate some issues, they face challenges such as disrupting educational schedules and maintaining necessary staffing in critical sectors like healthcare [34][35]. - A balanced approach that allows for partial staggered vacations could meet operational needs while still addressing tourism demand [38]. Group 6: Examples of Successful Implementation - Some educational institutions, like Qingdao Binhai College and schools in Hangzhou, have successfully implemented staggered vacation models, allowing families to travel during less crowded times [41][43]. - These examples demonstrate the potential benefits of flexible vacation policies in reducing peak travel pressures and enhancing the travel experience for families [44].

与这些新趋势和热潮相匹配的是，保险需求正被更多人重视，在制定出境旅游计划的同时，境外旅行险已成为不 少国际旅客主动配置的保险产品。据一位财险公司高管分析，在旅行险中目前大家最关注的风险包括机酒取消带 来的损失、意外事故造成的损失，以及突发疾病。与之相匹配的是，取消险、意外险、医疗险正成为新刚需。 据华泰财险透露的最新数据显示，5月1日至5月5日期间，出境游相关保险产品的保费同比增长29%，承保的出境 人次约4.3万人次，同比增长401%。其中，目前统计到境外旅行险出险157件，机票取消险78件，酒店取消险29 件，旅行险50件。 文｜丁艳 杨芮 编辑｜杨芮 袁满 当前，"五一"旅游市场已火热收官。据文化部数据中心测算，2025年"五一"假期期间全国国内出游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%。 国联民生证券发布研报称，"五一"假期出游意愿延续，出入境延续高增长，国内目的地下沉、出游客群年轻化等 旅游趋势延续。 微信团队发布的2025"五一"数据报告显示，今年内地居民境外微信支付交易笔数同比增长37%。中国港澳、日 韩、东南亚地区增速较快，成为热门出境游目的 ...

今天分享的是：艺恩数据：2025年出游趋势洞察报告 报告共计：31页 《2025年出游趋势洞察报告》由艺恩出品，报告聚焦新兴旅游群体，剖析当代旅行新趋势，揭示出旅行已成为现代人逃离内卷、放松身心的重要方式。 1. 旅行市场增长显著：2024年国内出游人次达56.15亿，同比增长14.8%，"旅行"相关内容在社交媒体的声量增长180%，互动量增长25% 。2025年小长假出 游热度高涨，五一假期旅游声量同比激增121%。 2. 旅行玩法丰富多样 - 去班味旅行：当代打工人利用周末出游去除"班味"。城市周边游兴起，如江浙沪周边游备受青睐，人们借此亲近自然、品尝美食；极限出境游成为职场新 潮流，"周末特种兵"充分利用周末时间出国旅行，港澳地区和越南等成为热门目的地。 - 探索世界：全球签证政策放宽，出境游市场复苏。中国游客出境游人次接近疫情前水平，港澳及东南亚地区是首选。免签国家旅行热度上升，旅行家们打 卡人生清单，探索小众冷门目的地，如格陵兰岛、萨摩亚等。 - 小城故事多："反向旅行"流行，旅行者挖掘宝藏小城。这些小城在美食、闲适安逸和文化方面各具特色，如齐齐哈尔的烤肉、慈溪的野趣、中牟的文化底 蕴等，吸引大量游 ...

报告共计：31页 《2025出游趋势洞察报告》由艺恩出品，报告指出，在社会内卷化、焦虑情绪蔓延的背景下，旅行成为现代人逃离日常、寻求精神慰藉的重要方式，旅行者 的价值取向和体验方式愈发多元。从出游数据来看，2024年国内出游人次同比2023年增长14.8%，"旅行"相关内容在社交媒体的声量增长180% ，2025年小 长假出游相关内容声量也均实现增长，五一假期因多休一天热度爆发，声量同比激增121%。在出游玩法上，呈现出多样化的特点。"去班味旅行"受青睐， 打工人利用周末进行城市周边游、staycation或极限出境游，江浙沪周边游热度高，周末特种兵旅行也从学生群体扩展到职场人士，他们突破时间与距离限 制，前往港澳地区、越南等地 。随着全球签证政策放宽和国际航线恢复，出境游市场复苏，人们探索世界的热情高涨，免签国旅行更受欢迎，旅行家们打 卡人生清单，小众冷门目的地也受到更多关注。"反向旅行"兴起，旅行者挖掘宝藏小城，享受当地美食、安逸氛围和独特文化，一些小城因美食、闲适和文 化特色而走红 。文化朝圣之旅成为新潮流，《黑神话：悟空》带动山西古建旅游热，非遗民俗活动和圣地巡礼也吸引众多旅行者。此外，季节限定旅行备 ...

2025 年 5 月 8 日 宏观策略 "五一"假期数据一览：消费市场显韧性，新兴消费势头良好 2025 年"五一"假期，受拼假人数提升、以及各地文旅消费补贴政策发力等 多重因素驱动，出行热度有所提升。据国家文化和旅游部数据，假期 5 天全国 国内出游 3.14 亿人次，同比增长 6.4%；我国游客出游总花费 1802.69 亿元人民 币（下同），同比增长 8.0%；人均消费 574.1 元，同比增长 1.5%，2019 年为 603 元。 "五一"假期数据显示当前关税等外部性因素对内需影响有限，消费市场展现 出较好韧性，在促消费政策叠加假期效应下，餐饮及零售收入均有明显提升。 从结构上看，消费升级与理性消费并存，居民更倾向于通过小额情绪消费、精 品消费等方式寻求满足感。随着内需动能持续恢复，新兴消费有望在当前经济 环境下保持良好表现，预期更多政策支持和居民收入稳定增长的配合有望支持 全面消费复苏。 出行：居民出行意愿增加，跨区域人流量明显增加。 据交通运输部初步统计，5 月 1 日至 5 日，预计全社会跨区域人员流动量累计 14.67 亿人次，日均 2.93 亿人次，同比增长 8%。具体来看：公路跨区域人员 ...

Core Viewpoint - The article explores the emerging trend of using AI for travel planning, highlighting both the advantages and limitations of AI travel assistants in creating itineraries and addressing user needs [4][103]. Group 1: AI Travel Planning Experience - Two writers tested various AI travel planning tools, including DeepSeek and Feizhu's "Ask" feature, to create travel itineraries for different locations [2][12]. - The experience revealed that while AI can generate travel plans quickly, it may misinterpret user requirements, leading to humorous or impractical suggestions [6][7][10]. - Users found that AI-generated itineraries often included real attractions, but the level of detail and accuracy varied between different AI tools [21][20]. Group 2: User Interaction with AI - Users experienced challenges in communicating with AI, particularly with DeepSeek, which required precise prompts for effective responses [48][49]. - Feizhu's "Ask" feature was noted for its user-friendly interface and practical functionalities, allowing for easier adjustments to travel plans [36][42]. - The article emphasizes the importance of real-time information updates for AI travel planning, as outdated or inaccurate data can lead to user frustration [60][84]. Group 3: AI Limitations and Future Potential - The article discusses the limitations of AI in providing reliable restaurant recommendations, with instances of AI-generated names not matching real establishments [50][54][58]. - Despite these limitations, there is a growing interest in AI travel planning, particularly among less experienced travelers who may benefit from automated itinerary generation [104][105]. - The potential for AI to cater to older travelers is highlighted, suggesting that as technology becomes more accessible, it could significantly enhance travel planning for this demographic [107][108].

Core Insights - The tourism industry in Hainan has shown significant growth during the "May Day" holiday, with a total of 3.89 million visitors, representing a 17% year-on-year increase, and total tourist spending reaching 5.25 billion yuan, up 20.2% from the previous year [1][2] Group 1: Visitor Trends - The trend of "county tourism" is emerging, with hotel bookings in county-level cities increasing by over 80% compared to last year, surpassing bookings in third-tier cities [1] - Hainan's rural tourism points saw a 32.6% increase in visitors during the holiday, with notable performances from various counties, such as Baisha County with a 59% increase in visitors [2][4] Group 2: Tourist Experience - The concept of "slow travel" is gaining popularity, as tourists seek quiet places to relax and prioritize personal experiences over mere sightseeing [5] - Hainan's counties are enhancing their unique offerings, such as ecological and rural tourism, to cater to diverse tourist needs [5] Group 3: Entertainment and Events - Large-scale events like concerts are becoming significant attractions, with performances by popular artists driving tourism consumption [6][9] - The integration of cultural events into the tourism experience is appealing to younger audiences, who are willing to spend for emotional value [9] Group 4: Scenic Areas - Scenic areas remain crucial for tourism, with a 31.1% increase in visitors during the holiday, highlighting the importance of A-level tourist attractions [10] - The development of scenic areas is being supported by government initiatives aimed at enhancing visitor experiences and service quality [12] Group 5: Infrastructure and Accessibility - The improvement of infrastructure, such as the Hainan Ring Road and tourism highways, has contributed to increased hotel occupancy rates along these routes [12] - The diversification of tourism experiences, including county tours, concert tourism, and scenic area visits, reflects a shift towards meeting personalized tourist demands [12]

证券代码： 002627 证券简称：三峡旅游 湖北三峡旅游集团股份有限公司投资者关系活动记录表 编号：2025-02 | | □特定对象调研 □分析师会议 | | | | | --- | --- | --- | --- | --- | | 投资者关系活动 | □媒体采访 √业绩说明会 | | | | | | □新闻发布会 □路演活动 | | | | | 类别 | □现场参观 | | | | | | □其他 （请文字说明其他活动内容） | | | | | 参与单位名称及 | 公司投资者 | | | | | 人员姓名 | | | | | | 时间 | 2025 年 7 15:00-17:00 | 5 | 月 | 日 | | 地点 | 全景网"投资者关系互动平台"（http://rs.p5w.net/） | | | | | | 董事长 王精复 | | | | | 上市公司接待人 | 副董事长、董事会秘书 胡军红 | | | | | 员姓名 | 副总经理、财务总监 陈晶晶 | | | | | | 独立董事 胡伟 投资者提出的问题及公司回复情况 | | | | | | 公司就投资者在本次说明会中提出的问题进行了回复： ...

Core Viewpoint - The article discusses the unconventional travel behaviors of young tourists during the recent May Day holiday, highlighting their preference for low-cost accommodations and unique experiences over traditional hotel stays, which reflects a shift in consumer behavior and values in the tourism industry [3][12][28]. Group 1: Unique Travel Behaviors - A group of mainland tourists in Hong Kong opted to sleep in fast-food restaurants like McDonald's instead of booking hotels, leading to the term "McRefugees" being coined by local media [4][6]. - In Chongqing, a government cafeteria opened to tourists, serving thousands of meals at low prices, which sparked similar initiatives in other regions [9][10]. - In Hubei, a local tourism bureau chief offered free accommodation in her home to stranded tourists, showcasing a new level of hospitality and resourcefulness [12]. Group 2: Consumer Attitudes - Many young travelers are not necessarily lacking funds; rather, they prioritize spending on experiences they deem valuable, viewing hotel costs as "ineffective consumption" [14][15]. - The trend of "budget travel" has evolved into a form of social currency, where unique experiences and stories shared on social media become more valuable than traditional luxury [17][21]. - The article suggests that this generation of travelers is more focused on maximizing their experiences within a limited budget, often leading to unconventional choices that challenge traditional tourism norms [27][29]. Group 3: Implications for the Tourism Industry - The article warns that while these trends may create temporary excitement for destinations, they could lead to unsustainable practices and strain public resources if not managed properly [30][33]. - Recommendations for the tourism industry include actively defining the boundaries of "budget travel," encouraging meaningful experiences rather than mere exploitation of public resources [32][33]. - There is a call for collaboration between platforms and local governments to establish guidelines that welcome budget travelers while protecting public resources from being treated as private benefits [33].