Core Insights - The upcoming "Children's Day" is driving a surge in family-oriented travel, with tourism companies actively targeting the parent-child travel market [1][2][4] - The parent-child travel market is experiencing a shift towards short-distance and nearby travel, as long-distance travel declines [5][6] - The growth of the domestic parent-child travel market is supported by an increasing child population, creating significant growth potential [1][8] Industry Trends - Various tourism companies are launching promotions and activities to attract families, such as live-streaming events and themed hotel packages [2][3] - Theme parks and animal parks are particularly popular, with many offering special events and discounts for children [3][7] - The report indicates that weekend trips are becoming the primary form of family outings, with a significant increase in short-distance travel [5][6] Market Forecast - The upcoming Dragon Boat Festival and summer vacation are expected to further boost the parent-child travel market, with predictions of a recovery to pre-pandemic levels [8][9] - Experts anticipate a significant influx of domestic tourists as international travel remains limited, leading to a booming parent-child travel market this summer [8][9] - The market is expected to see a balanced growth across short, medium, and long-distance travel, with short and medium-distance trips being the preferred choice for many families [9]

[Table_Reportdate] 2025年06月05日 [table_stockTrend] -28% -16% -5% 7% 19% 31% 42% 24-06 24-09 24-12 25-03 25-06 申万行业指数:社会服务(0746) 沪深300 [相关研究 table_product] 1.旅游市场火热，出行半径扩大—— 五一消费数据点评 [Table_NewTitle 端午旅游]增速放缓 ——端午消费数据点评 [table_main] 投资要点： [table_invest] 标配 [证券分析师 Table_Authors] 任晓帆 S0630522070001 rxf@longone.com.cn 行业简评 一、评级说明 | | 评级 | 说明 | | --- | --- | --- | | 市场指数评级 | 看多 | 未来 6 个月内沪深 300 指数上升幅度达到或超过 20% | | | 看平 | 未来 6 个月内沪深 300 指数波动幅度在-20%—20%之间 | | | 看空 | 未来 6 个月内沪深 300 指数下跌幅度达到或超过 20% | | 行业指数评级 | 超配 | ...

Group 1: Domestic Travel Trends - The Dragon Boat Festival holiday saw domestic surrounding travel and local travel account for 64% of total trips, with popular destinations including Hangzhou, Nanjing, Shanghai, and Suzhou [1][4] - Beijing remains the top domestic travel destination, following its popularity during the May Day holiday [2] - There is a significant increase in demand for high-star hotels, boutique inns, and vacation villas in local and surrounding areas, with a 31% year-on-year increase in overnight stays from local residents in Suzhou [1] Group 2: Family and Child-Oriented Travel - The overlap of the Dragon Boat Festival with International Children's Day has led to a surge in family travel, with parent-child room bookings increasing by over 50% and theme park bookings rising by 60% [5][7] - Multi-child families are emerging as a new trend in holiday travel, prompting hotels and attractions to develop "multi-child friendly" products [7] Group 3: Popular Activities and Experiences - Popular activities during the holiday include cultural experiences and water-related activities, with significant growth in hotel bookings in destinations known for rich cultural experiences [4] - The demand for water activities has increased, with a 50% rise in interest in river tracing and rafting products [4] Group 4: International Travel Preferences - The most popular outbound travel destinations are within a "3-hour flight radius," including Japan, Hong Kong, South Korea, Thailand, and Malaysia, with significant increases in flight bookings to Bali and Okinawa [8] - There is a notable increase in inbound travel orders, with a nearly 90% year-on-year growth, and popular inbound destinations include Shanghai, Beijing, and Guangzhou [11] Group 5: Future Travel Trends - As summer approaches, there is a marked increase in summer travel bookings, with hotel reservations covering 1,788 cities globally, reflecting a 375-city increase year-on-year [11]

Group 1: Tourism Market Insights - The tourism market in Wuhan is expected to be very vibrant during the Dragon Boat Festival holiday, with numerous inquiries and bookings from tourists from cities like Changsha, Shanghai, and Guangzhou [1] - Popular offerings include single bookings for tour guides and business vehicles, as well as a "Wuhan Highlights One-Day Tour" that features key attractions such as Yellow Crane Tower and Hubei Provincial Museum [1] - The Hubei Provincial Museum has reported full bookings for its basic exhibitions on May 31 and June 1, and will extend its opening hours during the holiday [1] Group 2: Accommodation Trends - The demand for unique accommodations in Wuhan is rising, with many specialty homestays fully booked for the holiday period [2] - Popular locations include the Xieyang Leizhu Homestay and Qianli Zou Danqi Homestay, both of which have no available rooms for the nights of May 31 and June 1 [2] - Other accommodations like Yuhe Confucius Mountain Resort and Wuhan Ocean Village Homestay also show high occupancy rates, indicating a trend towards local "micro-vacations" [2] Group 3: Family Activities and Promotions - Hotels in Wuhan are launching various family-friendly activities to attract visitors during the holiday, coinciding with International Children's Day [3] - The Marco Polo Hotel is offering a zongzi-making class for children and special dining options, while the Sheraton Hotel has planned a series of engaging activities including DIY workshops [3] - Promotions such as discounted family packages are being introduced to enhance the holiday experience for families [3]

Group 1 - The core viewpoint of the articles highlights the increasing popularity of the travel market as the Dragon Boat Festival approaches, with significant growth in both domestic and international flight bookings compared to the previous year [1][2] - As of May 27, domestic flight bookings for the Dragon Boat Festival exceeded 2.93 million, showing a slight increase from last year, while international flight bookings surpassed 620,000, reflecting a growth of approximately 19% year-on-year [1] - The top ten domestic destinations include Beijing, Shanghai, Chengdu, Guangzhou, Shenzhen, Xi'an, Hangzhou, Kunming, Chongqing, and Urumqi, with notable increases in popularity for Hangzhou, Beijing, Shanghai, and Kunming compared to last year's festival [1] Group 2 - The demand for short-distance travel is rising due to the limited duration of the Dragon Boat Festival, with travelers opting for nearby destinations to balance quick trips and relaxation [1] - Popular short-distance routes include Chongqing-Chengdu, Beijing-Tianjin, Shanghai-Suzhou, and others, with bookings for domestic short-haul flights (800 kilometers and below) increasing by over 12% compared to the previous week [1] - The average price of domestic flights during the Dragon Boat Festival is more affordable compared to the May Day holiday, with opportunities for travelers to find good deals on popular routes [2]

Group 1 - Qingdao tourism is experiencing a surge in popularity, ranking among the top ten destinations for both inbound and domestic travel in China [1][3] - Hotel bookings in Qingdao during the Dragon Boat Festival holiday increased by 24% year-on-year, while flight bookings rose by 12% [1][3] - The top source markets for inbound tourism to Qingdao include Malaysia, South Korea, Singapore, and the United States [3] Group 2 - Domestic surrounding travel is also gaining traction, with Qingdao ranking sixth among popular destinations in China [4] - The overall booking volume for domestic surrounding travel during the Dragon Boat Festival is projected to grow by 23% year-on-year [4] - There is a notable increase in interest for traditional cultural experiences during the Dragon Boat Festival, with a 50% rise in search interest for related activities [4]

Group 1: Travel Trends and Market Insights - The upcoming Dragon Boat Festival holiday is expected to see a steady growth in travel demand, with local and nearby travel accounting for 50% of the market share [1] - There is a significant increase in searches for cultural experience products related to the Dragon Boat Festival, with keywords like "Dragon Boat" and "Zongzi" seeing a 220% increase in search volume [1] - The trend of "central city sinking to surrounding areas" is prominent, with popular short-distance routes identified in regions like the Yangtze River Delta and Beijing-Tianjin-Hebei [1] Group 2: Family and Inbound Travel - The overlap of the Dragon Boat Festival with Children's Day has boosted family travel, with family travel orders accounting for 35% of total orders on the Ctrip platform [2] - Inbound travel is gaining traction, with hotel search heat for inbound travel exceeding 100% year-on-year, indicating a strong appeal of China as a travel destination for foreign tourists [2] - The top ten source countries for inbound tourism include Malaysia, South Korea, and the United States, with major destinations being Shanghai, Beijing, and Guangzhou [2] Group 3: Financial Performance of Travel Companies - Ctrip Group reported a net operating income of 13.8 billion RMB for Q1 2025, a 16% increase year-on-year, with a net profit of 4.3 billion RMB [4] - Tongcheng Travel is projected to achieve revenues of 19.91 billion RMB in 2025, with a target price set at 28.00 HKD per share based on strong fundamentals [4] - Huazhu Group's adjusted EBITDA for Q4 2024 is expected to grow by 10%, leading to an upward revision of its target price to 31.5 HKD [5] Group 4: Market Outlook and Recommendations - The tourism industry is anticipated to continue its recovery, supported by domestic demand policies and improving consumer confidence [3] - Key investment recommendations include focusing on leisure travel platforms and quality scenic area operators, as well as business travel recovery stocks [3] - Companies like Xiangyuan Cultural Tourism and Huangshan Tourism are highlighted as potential investment opportunities in the leisure travel sector [3]