一个玩出来的IPO。 投资界获悉，Klook（客路）正式向美国证券交易委员会（SEC）递交招股书，拟在美国纽交所IPO上市。高盛、大摩、小摩、花旗等联席承销。 这是一个崛起于大湾区的独角兽。时间回到2014年，经历一次不太满意的旅行体验后，林照围、王志豪和熊小康三人在香港成立境外旅游服务提供商 Klook客路，也在深圳设立技术总部。 不同与走马观花的旅游方式，Klook从"目的地服务"切入深度游市场，具体方案是：在目的地集结一众知名人士与旅游体验专家，包括探险家、杂志编 辑、旅行作家、米芝莲星级大厨等，亲自筛选并核实特色旅游路线与活动体验，确保所有项目的质量及安全。 至今，Klook集结了包括红杉中国在内长长的投资人队伍，共同奔赴IPO敲钟舞台。 三个人，缔造一个IPO Klook的创业灵感，源于一次旅行体验。 三位创始人曾回忆这段往事：那是2013年在尼泊尔的一次旅行，他们把现金塞满背包，只为了支付一次徒步的费用——尽管当时在线旅游业的发展已经让 酒店、机票等产品标准化，但目的地依然存在许多碎片化的问题，严重影响旅游体验。 正是这样一段看似不太美妙的旅程，让他们萌生创业的想法：那些小而美的本地体验商家，为旅 ...

Group 1 - The 20th Off-road E-tribe Alashan Hero Conference opened on October 3, 2025, in the Badain Jaran Desert, attracting car enthusiasts and tourists from across the country to experience off-road excitement and witness ecological protection and cultural tourism integration [1][2] - The opening ceremony featured dynamic music, dance performances, and traditional instruments, showcasing the vastness of the desert and the resilience of northern culture, culminating in a spectacular fireworks display [1] - A three-hour music carnival followed the opening, featuring popular internet celebrities and bands, creating a vibrant atmosphere for off-road enthusiasts and tourists [1] Group 2 - The theme of this year's event is "Badain Secret Realm, Twenty Chapters to Honor Heroes," with seven major sections and 28 activities planned, including competitions, performances, entertainment, exhibitions, forums, camping culture, and self-driving experiences [2] - The event includes upgraded racing segments with core tracks deep in the Badain Jaran Desert, featuring various competitions such as the Super T3 Rally and brand motorcycle challenges, alongside activities like helicopter sightseeing and skydiving [2] - Ecological protection is a priority throughout the event, with race tracks avoiding sensitive ecological areas and participants signing an ecological protection agreement to adhere to principles of not deviating from tracks, not leaving waste, and not damaging vegetation [2]

Core Insights - The integration of sports and tourism in Hainan, particularly in Wanning's Riyue Bay, is driving significant growth in the sports tourism industry, with a focus on surfing as a key attraction [1][13]. Group 1: Tourism and Visitor Experience - Wanning's Riyue Bay has become a popular surfing destination, attracting thousands of tourists during the holiday season, with many coming specifically to learn and experience surfing [1][2]. - The beach is bustling with activities, including professional photography for tourists, surfing lessons from coaches, and rental services for sports equipment [4][6]. - The surfing experience classes are in high demand, with instructors working long hours to accommodate the influx of visitors, creating new job opportunities for local residents [6][7]. Group 2: Economic Impact and Community Development - The surfing culture has led to the emergence of a "surfing village" nearby, with 53 guesthouses established in a small community, reflecting the growing popularity of surfing-themed tourism [9][11]. - New tourism routes combining accommodation, surfing, and river tracing have been introduced, enhancing the overall visitor experience and providing new income sources for returning migrant workers [11][13]. Group 3: Sports and Tourism Integration - Wanning offers a variety of water sports beyond surfing, including jet skiing, diving, sailing, and skydiving, contributing to a more diverse tourism experience [13]. - The local government is leveraging free trade policies to create a concentrated hub for sports and outdoor equipment, facilitating deeper integration of sports, tourism, and consumer spending [13][15]. - By 2024, sports tourism consumption is projected to account for 55% of Wanning's total tourism revenue, highlighting the significant economic impact of this sector [13]. Group 4: Broader Trends in Hainan - Hainan is developing a sustainable model for "sports+" multi-industry integration, capitalizing on its unique tourism resources and free trade advantages [17]. - The province hosts various professional sports events throughout the year, such as marathons and international competitions, enhancing its appeal as a sports tourism destination [15][17].

Core Insights - The low-altitude economy is rapidly reshaping the tourism industry, driving modernization and innovation in tourism consumption scenarios, particularly in Hainan, which is actively cultivating the "low-altitude + tourism" new business model [1][12] - Hainan's unique natural conditions, free trade port policies, and forward-looking industrial layout are accelerating the construction of a comprehensive low-altitude economic ecosystem [1][12] Group 1: Industry Development - Hainan has become a pilot province for nationwide low-altitude airspace management reform, leveraging its geographical advantages to develop low-altitude tourism projects, including skydiving and aerial sightseeing [2][3] - The average annual growth rate of visitors to low-altitude tourism projects in Hainan is approximately 20%, indicating a strong market demand [2] - The low-altitude tourism market in Hainan is expected to reach a scale of 70 billion yuan by 2023, with plans to exceed 300 billion yuan by 2026 [12] Group 2: Policy Support - Hainan has implemented various supportive policies, including the "Three-Year Action Plan for Low-Altitude Economic Development (2024-2026)," which aims to establish nine general airports and over 500 low-altitude takeoff and landing sites by 2026 [8][10] - The province has opened 46% of its airspace for trial flights, significantly reducing operational costs for low-altitude tourism businesses [2][10] - The establishment of a low-altitude air route network is enhancing airspace utilization efficiency and facilitating commercial operations in the low-altitude tourism sector [9][10] Group 3: Technological Innovation - Technological advancements are crucial for the high-quality development of low-altitude tourism, with applications expanding into areas such as digital inspections and real-time monitoring of tourist flows [6][7] - The integration of drones in tourism management is enhancing safety and operational efficiency in popular tourist areas [7][12] - The use of drones for logistics has demonstrated significant time savings, exemplified by a recent cross-strait delivery that reduced transport time by five hours compared to traditional methods [8][12] Group 4: Market Opportunities - The low-altitude tourism sector is diversifying, with new offerings such as water sports, aerial performances, and digital tourism experiences gaining popularity among visitors [4][5] - Hainan's low-altitude tourism is becoming a new economic growth point, with increasing participation from tourists and a variety of new business models emerging [5][12] - The province is positioned to become a hub for low-altitude equipment import and export, further enhancing its market potential [12][13]

Core Insights - Sanya has been recognized as the most desirable prefecture-level city for young people in 2023, attracting a significant number of visitors aged 18 to 35, with a 31.8% share in the first quarter, up 2.8 percentage points year-on-year [1] - The city is experiencing a transformation in consumer behavior among young people, who are increasingly drawn to Sanya for its diverse and engaging experiences [1][3] Group 1: Young Consumer Trends - The proportion of young visitors in Sanya increased to 36.3% from February to March 2023, reflecting a growing influence of this demographic on the tourism market [1] - Young consumers are characterized by their focus on value and experience, leading to a shift in spending habits towards more engaging and memorable activities [1][3] Group 2: Attractions and Activities - Sanya offers a variety of adventure tourism options such as helicopter tours, skydiving, and water sports, with over 104.71 million visitors expected for yacht outings in 2024 [1][2] - The opening of the Sanya International Duty-Free City in April 2023 has further enhanced the appeal of the city, providing unique shopping experiences for young tourists [2] Group 3: Cultural and Entertainment Offerings - Sanya is actively promoting cultural events and activities, including film festivals, art festivals, and various sports events, to cater to the interests of young consumers [3] - The city is enhancing its nightlife offerings by developing cultural and tourism consumption areas, which include diverse night-time activities and events [3] Group 4: Service Quality and Customer Experience - Sanya is implementing measures to improve tourism service quality, including welcoming initiatives and hassle-free services to enhance visitor experiences [5] - The city aims to create a "smart tourism" ecosystem with 128 initiatives focused on elevating the overall quality of service for young tourists [5] Group 5: Market Positioning and Future Strategies - To maintain its status as a top destination for young people, Sanya must continue to adapt to the evolving preferences and needs of this demographic [6] - The city is focusing on building a comprehensive and multi-layered tourism ecosystem that addresses the diverse demands of young consumers [6]

Core Insights - The integration of low-altitude experiences with tourism is driving new consumption vitality, creating a multi-dimensional experience that enhances the entire tourism consumption chain [1][2][10] Group 1: Low-altitude Tourism Growth - The low-altitude tourism sector is witnessing significant growth, with Sanya's parachuting base experiencing a 70% increase in daily visitors during the recent holiday, and projections indicating over 10,000 visitors in 2024 [2][4] - Various regions are developing low-altitude sightseeing projects, transitioning from niche experiences to mainstream consumption, with examples including helicopter tours in Chongqing and Suzhou [4][10] Group 2: Economic Impact and Projections - The low-altitude economy in China is expected to exceed 850 billion yuan by 2025 and reach 1 trillion yuan by 2026, driven by the development of unique tourism flight routes [4][7] - The introduction of drone light shows has enhanced night-time economies, with cities like Chongqing and Huangshan utilizing drone performances to attract tourists and boost local businesses [5][10] Group 3: Policy Support and Industry Development - Government policies are crucial for the growth of low-altitude tourism, with initiatives including subsidies for tourism flight routes and promotional activities to stimulate consumer spending [7][9] - Local governments are encouraged to integrate low-altitude tourism with other sectors such as hospitality and events, fostering a collaborative ecosystem [9][10] Group 4: Challenges and Future Directions - The low-altitude tourism industry faces challenges such as talent shortages and operational inconsistencies, necessitating regulatory frameworks and industry standards [11][12] - Future development should focus on differentiated competition and leveraging local culture to create unique tourism experiences, alongside technological innovations to reduce costs and enhance service offerings [12]