market determines the level of activity
As an important part of the tertiary industry, tourism, the hotel, catering, transportation, travel services and other related industries driving the revenue effect is obvious, but the main industry (resorts and travel agents) has not fully reflect the investment value. Li Weidong that, due to the impact of climate and greater degree of economic boom, the natural area is difficult to include business income from ticket sales, area expansion and renovation of higher marketing costs, return on investment such as the impact of a long cycle, the current private equity industries and enterprises in the tourism sector The focus is more limited, and the associated chain hotels, restaurants, travel services or travel information sites and other industries, private enterprises active in the market a higher degree, more favored by the capital.
The most obvious example is the Big Three domestic economy hotels such as home, 7 days, the Han court to the United States have achieved market, Motel 59% stake sale, attracting, including Blackstone, Carlyle Group and the Accor Group's race.
Cruises are also rise in recent years. Following the Star Cruises,mac makeup, Costa Poetry of the Chinese market, and foreign intervention has, this year in February, to pay in Chongqing Travel Group said that in 2010-2012 will continue to invest 20 billion yuan to build 10 world's largest river, the most luxurious, The most comfortable large cruise ship. Among them, the first After another four ships will come on line, the last 5 boats will be on the line in the second half of 2012.
listed private equity financing to accelerate
Stimulated a lot of good policy in the past, is not favored by the capital area and travel agents began to have an active capital.
to vote in accordance with C hinaV enture CV Database Products Group Soruce available data,mac brushes, over a period of time, increasing private financing activities, including ID G Tongxiang Wuzhen Tourism capital investment, fund investment in Jiangsu than in Lake, China Science & Merchants in Guangdongzhonglv increase their investment. Part in fund raising, but also began to focus on the tourism industry, private equity funds.
Li Weidong statistics,vibram 5 fingers, including the August 2009 world tour set up venture capital enterprises in Shaanxi (target 1.5 billion, the first to raise 230 million yuan), ICBC and Hainan Airlines Group International in October 2010 co-founded the International Tourism Industry Fund of Hainan (target 5.0 billion raised) and the Local Government and Dianguangchuanmei Hunan, Fortune Venture Capital in December 2010 initiated the establishment of Hunan Culture Industry Investment Fund (target 3.0 billion, the first to raise 900 million yuan). At present, these funds are not yet carry out investment.
At the same time, the domestic tourism industry is gradually becoming active in M & A transactions. June 2010, to 25 million euros Fosun acquired 7.1% shares of Club Med in France, becoming the first case of outbound tourism deals. According to C Investment in Group hinaV enture CV database product Soruce of corporate finance intelligence gathering and monitoring, the current CYTS,blackhawks jerseys, Hainan Tourism, Tourism Expo in Yunnan and other 5 companies have begun to private financing; Kaifeng, Millennium City, Dead Sea Resort in Suining, Sichuan, Fujian, Global Country of overseas tours 7 companies put forward a clear plan A-share listing and financing, some companies have entered the stage of stock reform; Shanda travels the world and other seven subsidiaries of foreign companies in tourism and related industries exists M & A needs.
ChinaVenture Investment in Group predict that, with private capital and foreign tourism to the gradual opening up the area around the development and tourism services in the form will become increasingly diversified. Benefit from local government-led industry fund, based on culture and consumer industries RMB PE funds investment direction and scale of the increase in the number of increases, the advantages of tourism enterprises around the capital level will receive more attention. In the domestic tourism market still have large room for growth in the context of policy support by unlisted companies will show the advantages of investment value.
