「IPO全观察」 栏目聚焦首次公开募股公司，报道企业家创业经历与成功故事，剖析公司商业模式和 经营业绩，并揭秘VC、CVC等各方资本力量对公司的投资加持。 作者丨赵晓晓 编辑丨关雎 图 源丨Klook 近日，跨区域体验聚合平台 Klook （客路） 向美国证券交易委员会递交了招股书 ， 拟通过 IPO 募 资 3 亿至 5 亿美元。 Klook 成立于 2014 年， 2018 年成为独角兽企业 。 公司总部在香港，在全球 18 个国家有团队。 Klook 主要业务是卖境外景区门票、一日游、 各式交 通票等，目的地的特色游玩项目是 Klook 最大 的亮点。 Klook 的故事，缘起两位 85 后金融从业者的一次旅行。 林照围 和王志豪都是金融专业出身，毕业后都在香港投行工作，两个人因工作认识。 林照围曾 任职 花旗和渣打投资银行部门，王志豪则在摩根士丹利投行部门 ， 两个人聚焦的业务领域也相似。 根据招股书， Klook 的核心市场在亚 太 地区，截至 2025 年 9 月 30 日，平台提供约 31 万 个体 验 产品，涵盖约 4200 个目的地。 2024 年， Klook 总交易额为 25 亿美元，成 ...

Core Insights - The inbound tourism market in China is experiencing significant growth, with increasing numbers of foreign tourists enjoying travel experiences in the country [2][3][8] Group 1: Market Trends - From 2024 to the first quarter of 2025, the number of foreign tourists booking flights and hotels to China through Ctrip's overseas platform has doubled year-on-year, with local activity product orders increasing threefold [3] - Ctrip has partnered with over 10,000 domestic attractions to offer online ticket purchasing services, and has set up nearly 900 international ticket machines at 115 popular sites, supporting multiple languages and international payment methods [3][5] Group 2: Tourist Experience - Foreign tourists have a positive overall impression of traveling in China, highlighting three main aspects: hospitality and safety, advanced infrastructure, and digital tools enhancing convenience [3][5] - Tourists from various countries, including Japan, South Korea, and Europe, have praised China's clean cities and efficient transportation systems, including high-speed trains and subways [5] Group 3: Hotel Industry Response - Hotels in major cities like Beijing, Guangzhou, and Shanghai have reported a significant increase in foreign tourist bookings, with some hotels seeing inbound orders exceed 50% of total bookings [6][7] - Many hotels are leveraging technology to improve service quality and efficiency, such as implementing AI multilingual customer service systems, which have drastically reduced response times for foreign inquiries [6][7] Group 4: Service Enhancements - The report indicates that while foreign tourists appreciate China's tourism offerings, they also express a desire for improved service details, such as simplified payment verification and more multilingual support in various locations [8] - Recommendations for enhancing the tourist experience include promoting payment convenience, optimizing digital services, and providing multilingual menus in restaurants [8]

Group 1 - The core viewpoint is that China's inbound tourism is experiencing significant growth, with visa-free foreign visitors reaching 13.64 million in the first half of the year, accounting for 71.2% of total inbound visitors, a year-on-year increase of 53.9% [1] - The development of inbound tourism reflects a country's comprehensive competitiveness, including infrastructure and cultural soft power, indicating that China is in a golden window period for expanding its inbound tourism market [1] - China has several advantages in attracting foreign tourists, including strong transportation services, hotel accommodations, and resolved payment and visa facilitation issues, leading to a competitive pricing advantage and diverse high-quality inbound tourism products [1] Group 2 - To develop inbound tourism, a mature and comprehensive international operation platform is necessary, with companies like Trip.com enhancing multilingual capabilities and utilizing AI technology to improve service efficiency [2] - The company has established 23 service contact centers in 11 countries, providing support in over 20 languages and ensuring 24/7 coverage to address complex issues faced by tourists [2] - Continuous innovation in deep travel products, such as car rentals and day tours, is essential to meet the diverse and personalized needs of foreign tourists, promoting unique destinations and experiences [2] Group 3 - Southeast Asian tourists are identified as a primary market for short trips, while European and American tourists require long itineraries that connect key attractions, with business tourism and international conferences being important focus areas [3] - Services must be tailored to different customer segments, such as offering unique experiences like hot springs and skiing for Japanese and Korean tourists [3] - The company is integrating multilingual versions of city tours and car rentals to facilitate foreign tourists' inquiries and bookings, helping small businesses enhance visibility and expand the inbound tourism market [3]