Galaxy Securities pointed out that as an important trendsetter for travel consumption in 2023, the May Day gold travel market performed strongly, indicating that subsequent holiday data is expected to maintain strong performance. The reason is that travel consumption, as a low-frequency, moderately spent, and well-received consumption behavior, is expected to show greater resilience in the context of a weak recovery. Recommend industries where demand recovery is fast, such as scenic spots, gaming, etc., and pay attention to layout opportunities after the pullback of leading racetracks such as duty-free, hotels, and restaurants.