深度观察 | 穿透财报:10亿“硬支出”与被误读的OTA估值重构——剥离“流量收租”标签,重估携程的履约壁垒与产业基建

凤凰网财经
Feb 26

【核心提示】当国内在线旅游市场的流量红利触顶,OTA(在线旅游平台)的商业逻辑正在发生强制性的底层更迭。在免签政策催生的入境游浪潮与国内文旅消费升级的双重挤压下,市场的核心矛盾已从“流量分发”转变为“服务承接”。通过交叉比对全球主要OTA平台的财报与携程最新业务数据,我们发现:一笔10亿元的专项基建投入与百亿规模的国内文旅供给侧改革,正在试图改变行业规则。OTA的护城河,正从轻资产的“流量撮合”,...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10