申万宏源主要观点如下： 国庆中秋假期出行人次、旅游收入同比稳定增长，市场热度攀升 智通财经APP获悉，申万宏源发布研报称，2025年中秋国庆假期从最终数据表现上来看热度再创新高， 但是客单价并没有因为节假日的增长而提升。长假期并没有让消费者"走得更远"，反而错峰游、分段旅 游的热度提升，非营业性的小型客车运输游客增速提高(自驾游)增速快于大盘。此外，海南免税销售额 及客单价有显著提高，品类结构的升级有所体现。景区间仍然加速分化，县城旅游、小众旅游的风格仍 然延续。关注方向上建议关注自身具有增量的酒旅公司，后续关注海南封关后的免税品销售变化。 三峡旅游集团的"两坝一峡"游船产品预售异常火爆，10月2日至7日船票在节前均已提前售罄。根据重庆 邮轮中心数据，2025年国庆中秋假期(10月1日-8日)，长江三峡游轮发船131艘次(其中省际非跨夜游轮8 艘次)，为2024年同期(10月1日-8日)的92.3%;完成客运量3.7万人，较2024年同期增长12.9%;游轮平均载 客率(床位)81.6%，较2024年同期增长9.1个百分点。 2025年国庆中秋消费季，全国零售餐饮平稳增长，以旧换新政策持续，金价再创新高 商务 ...

今年国庆中秋双节叠加的8天"超级黄金周"正式收官。携程发布《携程2025国庆中秋双节旅游报告》显示，北京、成 都、上海、西安、重庆、武汉、广州、青岛、南京、杭州位列热门目的地Top10，山东整体旅游订单量同比增长10%， 高于全国均值；其中青岛增18%、日照增23%、泰安更以72%的涨幅领跑全国地级市。 泰安72%增速全国称冠 "登泰山而小天下"再度验证强大号召力。《携程2025国庆中秋双节旅游报告》显示，泰安整体订单量同比增长72%， 居全国地级市第一；主力客源地北京、上海、天津、南京、杭州五城贡献超六成客流。 高铁红利是首要推力——假日期间，京沪高铁（601816）泰安站到发旅客量居全省前列，携程平台"高铁+门票"组合订 单占比达55%，同比提升12个百分点。 趵突泉、大明湖、明水古城联票销量同比增46%，其中夜场"明湖秀"搜索热度环比节前增200%，成为泉城夜游流量收 割机。 值得注意的是，济南端午、中秋连续两个假期酒店增速保持双位数，显示"泉水文化"已具备复购引力。 青岛、日照联袂抢占"北方海生活" 今年假期，青岛整体订单量同比增长18%，在北方滨海城市中排名第一；日照紧随其后增长23%，两地合计占山 ...

Group 1 - The tourism market remains active in September, with many tourists planning "off-peak travel" despite the end of the summer peak season [1] - September offers favorable weather and beautiful scenery, making it an ideal time for travel to destinations like Xinjiang and Tibet [1] - Many tourist attractions are providing discounts and promotions, such as "buy one get one free" ticket offers for local residents in Jinan [1] Group 2 - Airfare and hotel prices have significantly decreased in September, with international flight prices typically at their lowest during this month [1] - Travel agencies report a notable drop in travel product prices, with international travel to Japan seeing price reductions of 30% to 40%, and Europe seeing reductions of 10% to 20% [1] - Domestic travel products have also seen price drops of 20% to 30%, with some products nearly halved in price [1] Group 3 - September is increasingly popular among younger travelers, who are actively seeking to create travel opportunities and take advantage of discounts [2] - Young travelers are utilizing strategic leave arrangements to maximize their vacation time, allowing for extended trips at lower costs [2] - Newlyweds are also choosing September for their honeymoon, benefiting from fewer crowds and better deals [2]

Group 1 - The tourism market remains active in September, with many travelers planning for "off-peak tourism" despite the end of the summer peak season [1] - September offers favorable weather and beautiful scenery, making it an ideal time for travel to destinations like Xinjiang and Tibet [1] - Numerous attractions are providing discounts and promotions, such as "buy one get one free" ticket offers for local residents in Shandong [1] Group 2 - Airfare prices typically drop in September, making it a cost-effective time for international travel, with round-trip tickets from Beijing to popular cities being about half the price of those in early October [1] - Travel agencies report significant price reductions for travel packages, with prices for Japan products decreasing by 30% to 40% and European products by 10% to 20% [2] - Domestic travel products are also seeing price drops of 20% to 30%, with some products nearly halved in price [2] Group 3 - September is becoming increasingly popular among younger travelers, who are finding ways to create travel opportunities, such as taking leave to extend their vacations [3] - Many office workers are utilizing annual leave in September to enjoy extended holidays, leading to a rise in travel during this month [3] - Newlyweds are also choosing September for their honeymoon trips, taking advantage of lower prices and fewer crowds [3]

Core Viewpoint - The article highlights the preparations made by airlines, particularly Spring Airlines, to accommodate the surge in student travelers returning to universities as the summer travel season comes to an end [1][3]. Group 1: Airline Operations - Spring Airlines at Yangzhou Taizhou International Airport is coordinating closely among various departments to ensure smooth travel for students [1]. - The airline has noted a high passenger volume on routes from Yangzhou Taizhou to cities like Chongqing, Zhuhai, Kunming, and Shenyang, primarily driven by students returning to school and travelers seeking off-peak vacations [3]. Group 2: Pricing and Travel Experience - In September, ticket prices have significantly decreased compared to the summer travel period, making it an attractive time for travelers to visit popular destinations such as Xiamen, Zhuhai, and Chongqing [3]. - The airline is offering various travel options, including sunset tours, free travel, semi-free travel, and small group tours, enhancing the travel experience by avoiding peak tourist congestion [3]. Group 3: Travel Regulations and Recommendations - Travelers are reminded to comply with Civil Aviation Administration regulations regarding the transport of power banks, ensuring they have the necessary 3C certification [3]. - It is advised that travelers check the weather conditions of their destinations and stay updated on the latest airline information to ensure a smooth journey [3].

Group 1 - The peak of summer travel bookings for 2025 has arrived, with significant year-on-year growth in bookings for flights, hotels, tickets, and car rentals [1] - Long-distance travel consumption has increased by 7 percentage points compared to the same period last year, with regions such as Northwest, Northeast, and Southwest becoming popular summer destinations [1] - Guangdong's summer flight bookings have increased by 24% year-on-year, and charter bookings have more than doubled [1] Group 2 - University students are the fastest-growing demographic in summer travel, with a 77% year-on-year increase in travel numbers [2] - The average travel expenditure for university students has risen by 6% year-on-year, with an average trip duration of approximately 2.9 days [2] - The trend of quality travel continues to rise, with bookings for high-star hotels increasing by over 20% year-on-year [2] Group 3 - Unique and interesting travel experiences are becoming more popular, with significant growth in travel related to "Su Chao" in Jiangsu and surrounding regions [3] - Popular summer destinations for avoiding heat include cities in Northwest, Northeast, and Southwest regions, with several cities showing rapid growth and potential to become "dark horse" destinations this summer [3] - Traditional long-haul outbound travel destinations such as Australia, Europe, and the Americas have quickly entered the top ten due to extended holiday periods [3]

Group 1 - The article highlights a significant decrease in flight prices across various regions in China, with average ticket prices around 300 yuan for popular destinations like Kunming, Shanghai, Nanjing, and Wuhan [1] - Industry insiders suggest that the current period before the summer vacation is an ideal time for off-peak travel, as prices are considerably lower, with some tickets even dropping to 1.3 times lower than usual [1] - Hotel prices have also seen a substantial reduction, nearly halving compared to the "May Day" holiday, indicating a broader trend of discounted travel options [1] Group 2 - The upcoming Dragon Boat Festival is expected to see a focus on local and nearby travel, with consumers taking advantage of lower prices and a wider selection of destinations compared to the "May Day" and summer holiday periods [1] - Travel industry professionals encourage consumers to travel now before the summer rush, emphasizing that prices are currently about half of what they would be during peak season [1]