Core Insights - During the 2025 Mid-Autumn Festival and National Day, Jinan will unveil a series of new cultural and tourism projects, enhancing the holiday experience for citizens and tourists through diverse offerings that combine culture and consumption [1] Group 1: New Cultural and Tourism Projects - The Queshan Ecological Cultural District opened on October 1, featuring a tropical garden inspired by Singapore, a food street with local delicacies, and over 20 cultural activities planned for the holiday [2] - The Zhejiang-Fujian Guild Hall, which opened on September 28, has been restored to showcase cultural displays and will host themed performances and exhibitions to promote regional cultural consumption [4] - The "Nine Curves of the Yellow River" project opened on September 21, focusing on Yellow River culture with various themed squares and entertainment options for a comprehensive immersive experience [6] - The Jinan Theater, which opened on September 29, will feature original performances that highlight local culture and will host a series of opening shows during the holiday [7] - The revamped Houzaimen Street, which reopened on October 1, will feature immersive experiences centered around the poet Li Qingzhao and various new shops, enhancing the cultural atmosphere [9] - The "Shangxinji" initiative launched on September 30 aims to create high-quality cultural consumption spaces and will host a vintage market during the holiday [11]

Core Viewpoint - The article discusses the recent failure of the large-scale performance project "Only Emei Mountain," which has accumulated losses of 600 million yuan and was officially announced to be suspended as of June 15 this year. This situation reflects a broader trend of popular cultural tourism projects facing operational challenges and declining visitor numbers [5][13][21]. Financial Performance - The performance project "Only Emei Mountain" has been operating at a significant loss since its launch, with the parent company, Yunshang Travel Investment, reporting total losses of 600 million yuan [5]. - The financial data for Emei Mountain Yunshang Tourism Investment shows a revenue of approximately 84.66 million yuan and a net profit of -161.38 million yuan for the current period, compared to previous figures of 378.24 million yuan in revenue and 588.97 million yuan in net profit [6]. Industry Trends - There is a noticeable trend of popular cultural tourism projects, such as "Wenheyou" in Changsha and "Bailuyuan Folk Culture Village" in Shaanxi, experiencing a decline in visitor numbers and operational viability, with some projects closing down entirely [11][13][18]. - The article highlights that many of these projects initially attracted large crowds but failed to convert that foot traffic into sustainable revenue, often relying on a "photo economy" rather than genuine consumer spending [16][18]. Consumer Behavior - The article emphasizes that the majority of visitors to these cultural tourism projects are primarily interested in taking photos for social media rather than engaging in spending, leading to a disconnect between visitor numbers and revenue generation [16][18]. - The shift in consumer preferences towards authentic experiences and local culture is noted, with younger generations showing a willingness to spend on genuine cultural experiences rather than superficial attractions [24][26]. Recommendations for Future Projects - The article suggests that future cultural tourism projects should focus on creating authentic content and experiences rather than merely replicating successful models from the past. Successful projects should engage with local culture and community rather than relying on transient trends [21][24]. - It is recommended that operators prioritize long-term management and community engagement over short-term gains, emphasizing the importance of operational details and customer experience in retaining visitors [26][28].

Core Viewpoint - The article discusses the EPCO model in the cultural tourism industry, highlighting its complexities and the underlying motivations that drive its popularity among stakeholders, particularly local governments and project developers [5][14]. Group 1: EPCO Model Overview - The EPCO model stands for Engineering, Procurement, Construction, and Operation, and is often perceived as a comprehensive solution for cultural tourism projects, but it is more of a profit transfer mechanism than a sustainable management system [9][15]. - The model allows for significant flexibility in budgeting and project execution, often leading to cost overruns and profit manipulation at various stages [10][12]. Group 2: Government Involvement - Local governments often support EPCO projects as they provide a way to achieve performance metrics without deep engagement in the complexities of cultural tourism [14][15]. - The reliance on government funding, such as special interest loans for rural revitalization, is a critical aspect of the EPCO model, which can create financial burdens for project developers [6][15]. Group 3: Risks and Challenges - The EPCO model is susceptible to risks such as changes in local government leadership, tightening of funding policies, and public scrutiny, which can jeopardize project viability [16]. - The article emphasizes that while some companies may currently be profitable, their success is often due to meticulous financial management rather than the inherent quality of the projects [16].

Core Insights - Qingdao has been recognized as one of the top ten popular tourist destinations in China, showcasing a blend of holiday economy and cultural tourism experiences during the May Day holiday [1] - The Guoxin Group's various hotels achieved significant occupancy and revenue growth, with hotel revenue increasing by 15% year-on-year during the holiday period [1][5] - The launch of new tourism projects, such as the Qingdao Cloud Sea Tian three-layer linkage project, highlights the innovative drive of the "first launch economy" in the region [5][11] Hotel Performance - The hotel sector under Guoxin Exhibition Hotel Company saw a remarkable performance, with Hai Tian Hotel achieving over one million in daily revenue for four consecutive days [1][5] - The Guoxin Financial Center Hotel and Guoxin Grand Theatre Hotel also experienced full occupancy for three days, indicating strong demand for accommodation [1] Cultural and Tourism Projects - The newly launched Qingdao Cloud Sea Tian project combines art exhibitions, city sightseeing, and themed dining, creating a unique tourism experience and attracting both domestic and international visitors [5][11] - The project offers promotional ticket prices and package deals to maximize visitor engagement during the holiday [5] Visitor Engagement and Activities - Family-friendly activities at Guoxin hotels, such as art workshops and themed games, have enhanced the guest experience, with over 500 families participating in creative sessions [5] - The Hai Tian Hotel's "Picnic Wild Tour" package and the St. Regis Hotel's personalized services have added a luxurious touch to the visitor experience [3][5] Economic Impact - The Hai Tian Mall reported a 32% increase in foot traffic and a 69% increase in sales compared to the previous year during the May Day holiday [11] - The overall visitor reception at Qingdao Cloud Sea Tian increased by 9% year-on-year, indicating a growing interest in the region's attractions [11] City Services and Events - The Hai Tian Center's light show, featuring the largest single-building light curtain in the country, has enhanced the city's night economy, attracting over 100,000 visitors daily [11] - Events like the AS Animation Carnival and the Huaxia Home Expo at the Qingdao International Convention Center drew over 40,000 attendees, reflecting a vibrant consumer engagement [13] Strategic Vision - Guoxin Group's integrated approach combining hotels, cultural tourism, media, and exhibitions is positioning Qingdao as an international consumption center, enhancing the city's competitive edge [15]