Alibaba's released "2024 Mid-Autumn Holiday Travel Trend Report" shows that in the past week, there has been a noticeable increase in travel service bookings for the Mid-Autumn holiday.

As of now, the domestic hotel, car rental, and ticket bookings in China have all recorded double-digit growth compared to the same period in 2019; and the overall booking volume for the Mid-Autumn Festival holiday is also significantly larger than that of the Dragon Boat Festival holiday. Different from the 8-day long holidays of last year's Mid-Autumn and National Day, this year's Mid-Autumn holiday has mainly featured short-distance travel, and "micro-vacations" to provincial and neighboring cities have been highly popular.

Correspondingly, high-star hotels and boutique homestays with the characteristics of "micro-vacations" have shown remarkable performance.

According to interviews with Ctrip Travel, the international flight ticket orders have grown by more than 120% year-on-year in the first 7 months of this year, and hotel bookings have almost doubled compared to the same period. Among the popular cities for inbound tourists, Shenzhen tops the list. The flight and hotel bookings have also seen substantial year-on-year growth during the summer.

This summer, Hainan's tourism market has witnessed a new wave of "cross-border tourism," coupled with the 144-hour visa-free policy for foreign tourist groups from Hong Kong, Macao, and other foreign countries. The ports in Hainan have seen a bustling scene of inbound and outbound passengers. According to statistics from Haikou Customs, the ports in Hainan have supervised a total of 2786 inbound and outbound flights and more than 3.61 million passengers this summer, marking a 1.5-fold and 1.2-fold increase respectively compared to the same period last year, and reaching a historical peak.

China International Capital Corporation (CICC) released a research report stating that the performance of the tourism companies in the first half of 2024 is basically in line with the previous forecast. The summer faces the pressure of a high base, and the recovery of tourist attractions has shown some differentiation, with relatively pressured per capita spending. Due to factors such as the free ticket activities, the per capita spending on tickets at Huangshan in H1 dropped by 18% year-on-year. Refined operation of attractions, innovation in products and marketing have driven visitor flows.

Atlantis Sanya has continued to enrich its non-room offerings, attracting a diverse range of guests with abundant performances, weddings, and other experiential activities, with non-room revenue accounting for 49% in H1, an increase of 4 percentage points year-on-year. It has adjusted the per capita spending appropriately to attract visitor flows. Projects in Shanghai, Sanya, and Zhangjiajie have undergone park upgrades and enhancements, and have attracted traffic through rich IP collaborations and diverse channel partnerships. The Zhangjiajie project has developed the study tour market to cope with competition.

China International Capital Corporation focuses on the fundamental trends and potential catalysts in the tourism industry and individual stocks.

Tourism and hotel-related industry companies include:

Tongcheng Travel-S (09961): Strong growth in the tourism business, with a more than 5-fold increase in net profit year-on-year in Q2.

Tongcheng Travel (00780): In Q2 2024, achieved revenue of 4.25 billion yuan, a year-on-year increase of 48.1%, setting a new historical high for quarterly revenue; adjusted net income was 0.66 billion yuan, a year-on-year increase of 10.9%; adjusted net profit margin was 15.5%, a decrease of 5.2 percentage points year-on-year; gross profit was 2.74 billion yuan, a year-on-year increase of 26.9%. Air ticket volume increased by nearly 20% year-on-year, outperforming the industry. International business maintained high growth, with air tickets/hotels growing by 160%/140% year-on-year respectively, reflecting progress in international operations. The operating number of hotels is approximately 1900 (over 1600 in Q1 2024), with over 1000 under construction. The growth rate of stores puts it in a leading position among leading hotel groups.

Fosun Tourism (01992): Benefiting from the global expansion of Club Med business, the company effectively resisted single-market risks and successfully captured growth opportunities in some regional markets. In the first half of the year, despite the unfavorable environment of declining overall demand in the Sanya tourism market, the turnover of Sanya Atlantis remained at a high level of 0.9 billion yuan in the first half of the year, with an average occupancy rate close to ninety percent, once again breaking historical records.

Huazhu Group-S (01179): As of the end of Q2 2024, Huazhu's global number of store locations reached 10,286, including 10,150 Huazhu-owned stores, including 9,558 franchise stores; there are 3,258 reserve stores. Huazhu opened 567 new stores in Q2, with a net opening of 466 stores. Its store opening performance remains strong, reaching the milestone of 10,000 stores during the quarter. The company's Q2 quarterly report demonstrates resilience in performance.