Investment Rating - Industry rating: Recommended [5] Core Insights - The report highlights a significant increase in travel demand during the May Day holiday, with a total passenger flow of 1.467 billion people, representing a year-on-year growth of 8.0% [1] - The trend indicates a shift towards high cost-performance travel options, with domestic travel bookings for train tickets, flights, and hotels increasing by 10%, 25%, and 15% respectively compared to last year [2][3] - There is a notable surge in demand for high-star hotels in county-level cities, with bookings increasing by over 80% during the holiday [2] - Emerging tourist destinations, particularly in lower-tier cities, have seen visitor numbers grow by over 70%, indicating a diversification in travel preferences [2][3] - The report emphasizes the ongoing recovery and growth potential of the tourism industry, driven by government policies and consumer demand for unique travel experiences [9] Summary by Sections Transportation Overview - The total passenger volume during the May Day holiday reached 1.467 billion, with daily averages of 293 million, showing double-digit growth across various transport modes [1] Travel Trends - Domestic travel bookings have increased significantly, with train ticket bookings up by 10%, flight bookings by 25%, and hotel bookings by 15% [2] - High-star hotel demand in county-level cities has surged, reflecting a shift in consumer preferences towards quality accommodations [2][3] Inbound and Outbound Travel - The report predicts an average of 2.15 million inbound and outbound travelers daily during the holiday, marking a 27% increase year-on-year [4] - Inbound tourism orders have seen a dramatic increase of 130%, with specific cities like Shanghai and Shenzhen experiencing substantial growth [7] Key Attractions - Popular scenic spots such as Huangshan and Zhangjiajie have reported significant increases in visitor numbers, with Huangshan receiving 147,000 visitors, a 13.7% increase year-on-year [8] Investment Recommendations - The report suggests that the tourism industry is entering a growth phase, with long-term positive trends expected. It recommends investing in leading companies in the inbound tourism sector, such as Zhongxin Tourism and other related firms [9]